A recent Gallup survey found employers with the strong employee wellness programs saw increases to their bottom line in the last recession.
These employers saw an average of 26% increases to their profits during the economic slowdown. That’s compared to similar firms.
Financial Problems Overflow
Employees’ pocketbooks aren’t the only thing affected in the pinch of a recession,
In many cases, employees feel additional stress in other areas of their lives like their personal finances. As a result, they bring this stress to work
Financial stress can cause increased absenteeism and elevated healthcare costs. It can also lead to dips in productivity.
Employers who take the lead on offering wellness programs to stay ahead of burnout and financial burdens ensure their employees are in great shape.
Employees Find the Best
Employees working at companies with robust wellness programs aren’t there by accident. They seek out employers who value their skills, but also their wellbeing.
Firms who made it through the last recession unscathed were likely in that position because they had talented employees at the helm.
By offering attractive and robust wellness programs, some employers were able to ensure they had the best and brightest minds helping to navigate tough economic times.
What Employees Want
Employees want unbiased help in their wellness programs. They want to feel like their job has their best interests in mind.
Financial wellness benefits should encourage employees to better utilize their existing benefits. Additionally, it should advise them on what steps to take next. Do you know how much a financial wellness benefit really costs?
Employers who offer wellness programs and put in the work to engage employees regularly will see the biggest gains in the next recession.