Retention: Employers Need Innovative Solutions
Consider what your employees are going through while they are servicing your customers.
It’s a committment to fostering a culture that supports financial wellness.
Turnover is a number that should be tracked closely in a company’s leadership team.
The costs of losing good employees is high. The time and effort in finding good people should also be taken into consideration when reviewing what benefits are offered.
According to Zippia.com, 56% of employees participating in wellness programs experience fewer sick days and 80% say they enjoy work!
Companies with 3-49 employees are the least likely to offer wellness programs! Want to stand out? Offer a great program starting with financial coaching.
Having even a small program in place instills loyalty and provides health benefits.
Why Is There So Much Difference?
If you’re being surprised by employees moving on, maybe there’s more to be done?
Are employees referring their friends and family to come work at your company?
According to Zippia, 76% of employees do NOT feel their employers are empathetic towards them! That’s a staggering number!
A culture that supports financial wellness… differentiates them from the pack from a recruitment standpoint… and will be even more important when vetting future employers. www.businesssolver.com
According to Payroll.org, 78% of Americans are living paycheck to paycheck.
Meaning more than three quarters of Americans struggle to save or invest after paying for their monthly expenses.
This is mostly behaviors that can be coached into better habits.
Once your employees realize you’re helping remove stress by offering coaching, you will gain a lot of loyalty.
It’s Not Always About Making More Money.
Though you do want to do everything you can to pay your team well, in the Forbes Advisor, there are many factors that cause financial stress.
Social pressures and a lack of budgeting or financial planning can play a major role in stress. These are behaviors that with coaching, can be improved.