Over 70% of employees admit to worrying about money at work.
Offering financial coaching as an employee benefit provides a range of advantages to business owners, helping to create a healthier, more productive, and committed workforce.
Benefits of Financial Coaching as an employee benefit:
1. Increased Employee Productivity: Financial stress can negatively impact an employee’s focus and performance. By offering financial coaching, employers can reduce this stress, allowing employees to concentrate more effectively on their work.
2. Improved Employee Retention: Financial coaching shows a commitment to employees' well-being, which can increase loyalty and reduce turnover. Employees are more likely to stay with companies that invest in their personal and financial growth.
3. Attraction of Top Talent: Offering unique benefits like financial coaching can make a business more attractive to high-caliber job candidates. This competitive advantage can help bring in talent that might otherwise go to competitors.
4. Better Focus on Business Goals: When employees are less worried about their personal finances, they can direct more energy into contributing to company goals, leading to better alignment and productivity within the team.
5. Support for a Positive Company Image: Demonstrating concern for employees' well-being and financial literacy reflects positively on the company’s image, helping to build a reputation as a caring, progressive employer.