Financial Wellness Programs

Wellness programs have begun to pop up in many total compensation packages. From chair massages to gym memberships, organizations have been able to see the real benefit of providing these services to employees. At MSEC, we receive calls from our members asking for ideas on how to improve their wellness offerings and provide a more holistic program. Our members understand that keeping employees’ stress down translates into higher productivity and less absenteeism, and in some cases lower healthcare costs.

More employers have begun to look at adding financial wellness programs to their current wellness benefits. Employers have begun to realize that employees who are stressed out about their financial status, can be just a detrimental to workplace productivity as those who are chronically ill.

Many of these financial wellness programs go far beyond discussing 401(k) elections. A good financial wellness program can assist employees in starting a college savings plan, managing debt, and even understanding the complexities of Medicare. These programs are typically offered through a third party provider thus taking the burden off the already taxed Human Resources department.

If you are interested in adding a financial wellness program to your benefit offerings, MSEC can help. Please attend our MyFinancial Wellness webinar on March 9th or contact Kristen Borrego at kborrego@msec.org for more information.