Do you remember that moment when you had to ask that person to the high school prom, or even just for a date? You were 15 and your heart was thumping through your chest. You thought you were going to faint, but yet you had to muster up the courage in order to accomplish your heart’s desire. Now imagine feeling that type of stress every single day. This daily stress, however, is much more challenging. It’s not about a date, but your ability to survive and live a life of comfort and satisfaction.
Stress is becoming a top health concern with 49% of people at risk for stress-related problems including heart disease, diabetes, depression and anxiety. Employers are directly impacted by employees who are dealing with stress through decreased work productivity, absenteeism and increased healthcare claims.
One of the greatest stress-related issues affecting employees is money. Based on the results of the American Psychological Association (APA) Survey, the majority of Americans (64%) reported that money is a significant source of stress.
While employers have offered health & wellness programs supporting and encouraging physical well-being for a while now, many organizations have begun promoting employee wellness from another front by focusing on stress reduction, notably, financial stress. 84% of middle and large companies now offer financial wellness programs which aim to help employees increase financial security by providing education on budgeting, making sound financial decisions, debt management and in some cases, offering student loan assistance and short-term loans.
With a focus on managing and reducing stress levels, employee health and wellness programs are a good starting point to help address the seriousness of stress and its effect on both employee and employer. Adding a financial wellness program to your benefits offering not only provides employees with the tools and resources designed to reduce money-related stress; it helps to eliminate it from even occurring, treating the cause before it turns into a symptom.
One in two employees would like to see a greater focus on well-being from their employer. Is your company committed to health and financial wellness? Or, are you still standing in the high school hallway, too scared to ask for that opportunity?