When I go out to my clients I see a lot of things that, as a business owner, would drive me nuts… cell phone usage on company time being the main culprit. This is just the most visible item that distracts employees. Just as business owners think about the finances of their business, employees think about their own personal finances, too.
I have sat with many employees that are in so much financial turmoil from loans on cars, credit card debt, a mortgage or rent, the costs of having a family, or student loan debt. There doesn’t seem to be a way out. It’s no wonder employees fret when considering voluntary benefits and then don’t participate in the retirement plan the company sponsors either.
With money problems on their minds, I wonder if these concerns affect their job performance; I bet they do. I have been an advocate for having employers help employees with their finances; however, this is a tightrope walk of not getting too involved in the employee’s personal business.
These are a few of my thoughts about Employee Wellness Plans:
- Any financial wellness and education have to be offered solely to benefit the employee. The employees know if there is an ulterior motive.
- Some employees will feel as if “the man” is trying to get into their personal business. So, have a person with nothing to gain be the instructor.
- Allow a block of time on a weekly basis that allows employees to participate. I’m not saying on the clock, but be flexible.
- Facilitate the effort by allowing it to be done at the business.
- Allow for follow ups with the instructor. There are always questions that come up later.
- Take an interest in the outcome. Encouragement from you goes a long way.
I have great clients and I know that they want the best for their employees. Taking your employee’s financial wellness seriously creates an environment that employees have better tools to take care of their money, where being your employee is a blessing for that person and whether they stay or go, the employee is better off for being there.
Maybe the best thing of all is that the employee will not be distracted by their problems and can do a better job, too. Now… I just need to find a solution for those blasted cell phones.