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Business
5 Ways Companies are Keeping Employees Happy
(StatePoint) For years, many American businesses have provided wellness pro- grams dedicated to encouraging employees to improve their physical health and fit- ness. But a new work culture is emerging, as employers recognize the need to focus on the overall well-being of their associates in order to keep them at a company.
Recruitment is expensive, and an emphasis on retaining top talent through efforts to support their well-being can lead to a significant reduction in these costs. A recent Staying@Work survey revealed that within the next year, 64 percent of employ- ers would adopt programs to address the overall wellness needs of employees in five areas:
1. Financial: Nearly 75 percent of people worry about their finances at least some
of the time, reports the American Psycho- logical Association. Concerns about house and car payments, child care and daily living expenses, and student loan debt can affect an employee’s work performance. The World Health Organization calculates that financial stress costs employers $300 billion each year in missed work and lost productivity.
To address these concerns, nearly 84 percent of employers provide financial wellness programs, offering services like counseling to set up and maintain family budgets. However, only 4 percent of em- ployers provide loan repayment assistance, such as the BenefitEd program, making this a benefit that would help many em- ployers stand out from their competitors when vying for talented employees. With BenefitEd, employers can easily set up a monthly, quarterly or annual contribution, or matching payments, toward employees’ student loans. Employers may provide BenefitEd for specific positions or to employees meeting certain criteria. Some
employers are using BenefitEd’s platform to let their employees take advantage of match dollars that have traditionally only been used for retirement.
2. Social: One key way employers sup- port employees’ social well-being is with policies that allow for greater flexibility and work-life balance. Employees who can telework or control their schedules to bet- ter juggle work and family responsibilities are more relaxed, productive and satisfied with their jobs.
3. Community: Seventy-nine percent of employees surveyed in a recent study pre- ferred to work for an employer that cares about social and environmental issues, and encourages community involvement.
4. Career: Employees want to work
for employers that appreciate them and provide learning opportunities. To meet this demand, many employers offer tuition assistance programs, repayment programs
like BenefitEd, and lunch-and-learn options offering employees a chance to develop new skills and get training for jobs in other departments.
5. Physical: Nearly two-thirds of employ- ers encourage their staff to develop healthy lifestyles. Popular programs include nutri- tious food and snack choices in cafeterias and workout areas to make it more conve- nient for employees to exercise.
To learn more about how employers are supporting employee needs, visit YouBene- fitEd.com/Happy.
Employee engagement and happiness are essential to running a successful business. As more companies make this connection, employees can expect to be offered more opportunities and benefits that they need and want to be healthy, happy and effective in the workplace.
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