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Financial Wellness is an important component of any comprehensive employee benefits plan

June, 2017

We all know how important it is to limit distractions at work. It seems obvious that productivity will suffer when an employee is sick and working at a reduced capacity or unable to work altogether. But what about if the employee is in perfect physical health, but struggling with their personal finances. This can cause stress and distractions that are much less obvious than say, the flu, but can still result in reduced productivity in the workplace a.k.a. presenteeism.

As the overall well being of employees has come to the forefront of preventing absenteeism and presenteeism, Financial Wellness has become a "hot topic". A growing number of employers have begun incorporating Financial Wellness programs to help employees help themselves with their personal finances. PricewaterhouseCooper's 2016 Employee Financial Wellness Survey showed that 52 percent of workers and 64 percent of Millennials said they are stressed about their finances. And they feel the stress is increasing. Forty-five percent said their finance-related stress had increased during the past year. The study also showed that stress about finances is distracting workers as 46 percent spend three or more hours during the workweek dealing with or thinking about financial issues.

While the numbers are increasing, we've been sensitive to distractions caused by issues other than health for a long time. Our Family Protection Plan was designed from inception to provide employees and their families with stress and distraction reducing meaningful benefits for everyday life.

In addition to access to Free and Discounted Legal Care, Financial Education and Tax Preparation and Advice are both part of Legal Club's Family Protection Plan. Each component, along with our best in class Identity Theft Solutions plan, helps to promote financial wellness and peace of mind.

 

Tags:
Financial Wellness, Employee Benefits, Productivity at Work, Absenteeism, Presenteeism, Free and Discounted Legal Care, Identity Theft Solutions

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Legal Club provides meaningful benefits for everyday life including legal, tax, identity theft solutions, financial education and life events counseling to over 2,000,000 working Americans and their families. Legal Club’s suite of products can be tailored to meet the needs of evolving employee populations and are designed to provide ultimate flexibility for employee benefits brokers and HR leaders. For more than two decades, Legal Club has been the proven choice for organizations around the country.

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