There has been a number of articles written about the positive aspects of offering financial wellness to employees- from ways to help employees better utilize their employee benefits to offering financial planning to employees. This article from HBR explains the many advantages to companies that offer this type of guidance to employees.
Articles like this typically have a missing piece- particularly as it relates to people in the 50s and 60s- who are in the age range where they should also begin planning for the many wellness aspects beyond financial wellness.
This article from Financial Advisor magazine describes these non-financial areas of wellness. The other wellness areas the author points out are: physical, emotional, social, intellectual, occupational, spiritual, and environmental.
I would say that each of these areas can be as important as financial wellness, or perhaps for many employees, more important toward creating a win-win situation. As the HBR author points out “The evolution is not just good for the workers — empowering a more financially confident workforce will drive greater overall business outcomes.”
If you simply remove the word “financial” from the statement, and have it include all of the wellness topics, including financial, only then will employees have the needed resources to have better clarity, confidence, and control of their futures- particularly those nearing retirement.
If you are an employee of a larger company that offers financial wellness as part of your benefits, inquire about including the non-financial wellness areas as well and explain to your company why these can also be beneficial.
