Hallie Gabor Hawkins, JD & CCRR® & CITRMS®

As a part of Employee Benefits there is a focus on employee wellness. Many wellness programs focus on weight loss, smoking cessation, managing prescription costs and health care costs and other similar issues. Healthcare and the cost of healthcare are being discussed on the television, talk shows and board rooms.

Thinking of wellness in broader terms may actually be a more effective way to affect the bottom line of a company’s balance sheet. A person’s overall personal wellness affects many aspects of their work life including health, attitude, ability to concentrate on the job, and interaction with others. Financial Education for employees can be an integral part of a wellness program. Financial instability or personal financial concerns attack the productivity of an employee in multiple ways.

Financial problems can directly affect the health and wellbeing of the employees at work. The Executive Director of the APA Katherine Nordal, PhD states that in a tough economy worries about money and finances may be at the forefront of discussions. Underlying this, though, it the stress in emotional and physical terms on America as a whole. If this high stress level continues to long periods of time, there is a great risk for the development of serious health issues for the nation.

The immediate health impact on the workforce can be as simple less productivity due to not feeling good. Studies show that people with financial problems report general fatigue, irritability, anger, not sleeping, lack of interest or motivation, feeling depressed or sad, headaches and general tension.

"Right now people are increasingly concerned about their jobs, retirement savings and simply being able to provide for their families and it's taking a major toll on their health. It's a harsh irony that worrying about being able to afford health care is actually causing health problems."

- Bob Gallo, AARP Illinois Senior State Director

Don R. Powell, PhD., president and CEO, American Institute of Preventive Medicine, pointed out that successful employee wellness programs receive an average return on investment (ROI) of $3.48 to 1 due to reduced health care costs and $5.82 to 1 due to reduced absenteeism, making them worth considering. He also advised companies to consider how comprehensive a wellness program should be for their company.

– EHS Today

Key findings from the AARP survey, Impact of Economy on Health Behaviors, include:
•       20% of people 45 and older reported health problems due to financial stress
•       About one fifth, 22%, have delayed seeing a doctor due to cost

•       16% had to use retirement savings or other savings to pay for medical care
•       21% have cut back on other expenses in order to afford their medical care

•       One in six, 16%, are not confident they will be able to afford health care in the coming year

The survey also found that health problems due to financial stress is having a greater affect on individuals 45-54 and 55-64, than on those ages 65 and older (22% and 25% vs. 13%, respectively).
- SOURCE AARP Illinois PR Newswire


This financial stress falls right into the ages of 45 to 64, a prime candidate for key employees. There are hundreds of articles about how financial stress effects a persons heart health, digestion, fatigue and even hair loss. Think of how these physical effects of stress can affect the bottom line of a company. Are employees able to focus well on the job at hand? Can they handle that irate customer with professionalism and poise as the face of the company? If a project requires great accuracy and detail are the numbers are correct when an employee is not feeling well or a creditor is calling? Presenteeism, an employee that is physically present, but mentally absent, is a factor. Absenteeism can also increase during times of stress

Another way that Financial Education can assist employees is to make them financially healthier….A goal of overall wellness! An AARP survey showed that 39% of respondents thought it was important for employers to offer financial consultation services and 57% said they would take advantage of the services if offered.

Because of the increased focus and tension around the financial strain, companies should incorporate regular financial educational sessions into their wellness program. The philosophy of a good wellness program is to have a positive effect on the employee and help increase their satisfaction. Since the stress levels had risen over personal finances, financial education is a great fit for a wellness program.

A well known insurance company offers free financial planning seminars. The seminars are not solely focused on retirement, they are offered so a wide audience of employees would benefit from the educational offerings. These are offered during work hours. The Senor Vice President of Benefit Programs indicates that the costs are minimal and the employees are more productive, focused and can do their jobs much better if they feel financially, emotionally and physically fit.
- Human Resource Executive May 2009

One of the primary goals of most wellness programs is to reduce heath care costs, including financial health into a wellness program is a natural fit. Get It Together Workshops are designed to compliment other wellness programs and provide benefits to both the company and the employee.

For the Employee, Get It Together Workshops provide:

Independent Financial & Legal education

The creation of an Action Plan to take control of these areas of life that are a great distraction
Credit Score Education and One-on-One counseling for employees

An understanding how to use benefits provided by the company Increased participation in401K and retirement programs



For the Employer, Get It Together Workshops provide:

Increased participation in 401K and retirement programs Increased employee productivity

A clear distinction for the compliance required by ERISA 404 C to provide neutral financial education

Workshops with independent Financial and Legal education, including credit score education and counseling