Boosting morale and finding ways to motivate your employees are crucial when it comes to fostering healthy company culture. The portion of employees who say that they are not engaged at work or motivated to perform is astounding. According to a 2018 Gallup global study, 85% of employees are disengaged and not motivated at work. Lack of motivation results in reduced productivity, increased absenteeism, and lackluster team culture. When an employee is motivated, they are eager to do their best work and willing to take the initiative on projects that support the company’s objectives.
Team morale and motivation is elevated whenever a company shows that it is invested in the success and well-being of its employees. A key component of any individual’s personal success is their financial health. When a company goes the extra mile to support their employees’ financial well-being and overall financial health, employees return the favor to the company by working harder. Employees will be motivated to go above and beyond for the company and this vibrant energy will boost the overall morale.
As an organizational leader, it is important to understand that finances are a common stressor for employees. Fostering a culture that encourages education and discussion around finances and the management of such opens the doors for employees.
The goal of financial education should be to reduce stress and elevate financial health. With appropriate and valuable tools, resources, and financial services, employees will be able to establish their own personal roadmap to achieve financial success. But we should not assume that all employees are excited to commit time and energy to improving their financial situation. Motivation is key.
Incentives and rewards are a great way to get employees excited and increase participation. Many financial wellness platforms, like FinFit, offer member rewards programs that require no effort or expense from employers. Employees are rewarded for completing educational courses and taking actions to make progress towards personal financial stability.
In addition to rewards, friendly competition amongst co-workers can add some fuel to the fire when it comes to engagement. We offer weekly live financial trivia, where employees compete against each other for bragging rights and cash prizes. Anything that will get your employees talking about financial health and well-being is a step towards engaging your workforce and helping a greater populous.
As an employer, you have a unique opportunity to provide financial education, resources, and tools to your team through your employee benefits. When your team is empowered with the information they need to thrive as individuals, they will transcend into a place of unbridled ambition that will translate into their work and ability to deliver exceptional results.
A financial wellness benefit like FinFit helps your employees manage and create stability within their personal financial lives, lower their stress levels, and allow them to focus their attention on work. Self-actualization is the core desire for most human beings and a company who aids this personal growth stands to reap huge, meaningful rewards.
The positive impact of providing financial education resources and financial wellness benefits to your employees will be felt in the company’s culture and bottom line. Create a company-wide approach so that it fosters conversations and creates a team culture where everyone feels motivated to reach their financial goals (and yours). Investing in your employees’ personal growth will ensure the stability and growth of your organization.