Financial and Physical Wellness Go Hand in Hand

By Jill Micklow
Posted: May 28, 2015

Wellness Programs: Encompassing Financial and Physical Wellness

Workplace wellness programs. We know you’ve heard us talk about them here, here and here. We hope you’ve even implemented one in your organization. When managing a wellness program though, many employers don’t realize that financial wellness is equally as important as physical wellness. In fact, employees who struggle from financial trouble are often less focused at work, live an unhealthier lifestyle and incur higher medical costs. Incorporating a financial component to your wellness program can be a strategic move that both your budget and employees will appreciate.

Financial problems are consistently rated among the highest sources of stress and can cause anxiety. This type of stress can lead to health problems like:

high blood pressure
cardiovascular disease and stomach disorders
trouble sleeping
moodiness and generally feeling run-down
colds and minor illnesses

Stress due to money can increase absenteeism rates due to increased health problems and cause employees to search for higher paying jobs.

As an employer, you can help employees cope with financial problems and improve their financial situations. Consider offering financial benefits, including educational materials, resources for those needing advice or assistance and classes to teach basic to advanced financial wellness, including retirement savings. If you’ve got a wellness program, incorporate the financial component with the overall program. Work to increase awareness of your Employee Assistance Program (EAP) to boost utilization and ensure employees are taking advantage of the benefit.

Financial education should also be integrated with healthcare discussions to encourage more savvy healthcare consumers. Education will allow employees to be more confident in their healthcare expenditures, participate in consumer-directed health plans, consider mail-order prescriptions and take advantage of preventive care as well as saving themselves and their employer a significant chunk of change.

Having financial peace of mind will significantly reduce an employee’s stress level, which then improves overall health, along with focus, attitude and performance at work. Financial wellness can support your overall wellness initiatives by promoting healthier behaviors and attitudes in all aspects of life because, after all, happy employees = a better bottom line.

If you have questions about educating employees on both financial and physical wellness, chat with an ‘A’ Team member and experience a healthier workforce.

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ABOUT THE AUTHOR

Jill Micklow

Jill Micklow is a Wellness Manager on Assurance’s Risk Management team. With a passion for improving the health of companies and their employees, Jill works closely with her clients to create large-scale corporate wellness programs. After first identifying her clients' specific health and wellness goals, Jill then helps to develop, implement and manage a strategic wellness program tailored to their needs. Jill joined Assurance in 2009 and has since received certifications as a Group Benefits Associate (GBA), Certified Worksite Wellness Specialist (CWWS) and Certified Worksite Wellness Program Manager (CWWPM). Jill is proud to serve as 2018 Co-Chair on the American Heart Association Worksite Wellness Committee. Prior to Assurance, she graduated Summa cum Laude from St. Norbert College with a Bachelor’s degree in Business and Finance.

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