The corporate benefits of financial well-being have the main function of reducing financial stress in the routine of employees. When the plan is well applied, the tendency is to increase employee motivation and productivity .
A MetLife study on Employee Benefit Trends showed that 37% of professionals assume that they spend a good deal of time at work thinking about their financial situation.
With this scenario, the focus on tasks decreases, worries take over the concentration and the results become unsatisfactory.
So that your company does not have to go through this situation, we have listed in this article some corporate financial welfare benefits that your organization can offer. Check out!
What are corporate financial benefits
A corporate financial welfare benefits program are strategic actions developed by companies to reduce the impacts of financial stress .
Especially because with financial concerns it is quite possible that the employee may not be able to fully engage with the work , influencing their mood and performance.
Not only that, financial stress can cause physical and psychological illnesses. Knowing this, 82% of employers recognize the importance of investing in corporate financial well-being benefits, according to MetLife .
Advantages that somehow contribute to reducing absenteeism and even the turnover rate . Do you want to know the main corporate benefits of financial well-being in the market?
We have listed some of them to help you contain job dissatisfaction.
What are the main corporate financial benefits
$ 60 billion, which is the value that companies tend to lose due to the low productivity of their employees caused by stress, indicated a survey by The American Institute of Stress .
In many cases, financial stress is the main driver of this alarming number.
A report by Prudential indicated that 45% of professionals who receive corporate financial well-being benefits declared themselves physically healthy . So, check out 7 benefits that can contribute to the satisfaction of your employees.
- On-demand salary ;
- Special credit lines;
- Student financing;
- Food stamps;
- Fuel vouchers;
- Agreements with gyms;
- Lectures and courses on financial management.
Below you will find all the details of each of the corporate financial welfare benefits mentioned above.
Who has never had a squeeze at some point in the month when they found themselves without money to pay the bills? Yes, this is a very common reality in the lives of Brazilian professionals.
To solve this problem of lack of money, which can generate financial stress, companies have been betting on a very effective novelty, wages on demand .
Within the corporate benefits of financial well-being, this advantage gives employees greater autonomy over their wages .
With the salary on demand, the employee can take part of his payment at any time and will receive the amount for the days worked .
This reduces financial stress, as the employee will have part of his money throughout the entire month and increases, for example, his gratitude and motivation towards the company.
Special credit lines
According to Google Survey more than 51% of Brazilians use loans to pay debts, taxes, card bills and so on. Given this reality, payroll loans are one of the options within a corporate financial well-being plan.
Since, in addition to its low interest rates, it tends to reduce financial stress on the employee who is in need of money to solve personal problems.
Any private company can offer this type of loan to its employees, as long as they have an agreement with a financial institution. In the payroll loan the amounts are deducted directly from the employee’s salary.
So, the payroll loan can be an excellent possibility of benefit for those employees who need a fast credit line, with a low interest rate.
Professional improvement is part of the incessant search for the knowledge that talents have. However, teaching in the country costs the student, on average, about R $ 898.00 per month, revealed the Map of Higher Education in Brazil .
It is not by chance that school dropout in Higher Education in 23% indicated data from Quero Bolsa . Given this, it becomes almost impossible for an employee to decide to improve himself, organizing his home expenses with studies, without being financially stressed.
Therefore, many companies bet on education assistance as a good attraction within the corporate benefits of financial well-being to reduce financial stress and retain talent.
With this support that the company offers, it becomes more feasible that employees continue to improve through courses, MBA and even higher education.
A survey by the Núcleo de Estudos Sodexo revealed that for 75% of Brazilians the food / meal voucher is one of the main benefits that a company can offer.
This is mainly due to the extra expenses with food that employees would have if they did not receive this extra amount in their salaries.
The same survey showed that more than 40% of employees said they would need to make a financial adjustment if they did not receive food or meal vouchers .
Based on this data, it is possible to see that companies that give up these corporate financial well-being benefits tend to create a great concern in the employee in relation to their expenses with food.
For this reason, food stamps or meals can be a stimulus to motivate employees and reduce the financial stress caused by this type of expense.
It is even a determining factor in employee motivation and directly contributing to talent retention .
The transportation voucher is a right of the employee who works under the CLT regime. However, many professionals choose to travel to the company with their own vehicle because they live far from bus stops, stations or even for comfort.
For this reason, many companies offer a fuel voucher within a corporate financial welfare benefits program .
Giving this autonomy to the employee to choose the best way of commuting can contribute to their well-being, motivation and quality of life.
This, therefore, is a great competitive advantage to reduce the concern of employees in relation to personal expenses with commuting to the company. Thus allowing the employee to choose the best option for him.
Agreements with gyms
A study by the University of Bristol, UK showed that physical exercise is linked to increased productivity and concentration. 41% of employees who did a day of exercise increased their motivation and 25% finished their work beforehand .
In addition, these same professionals increased their power of concentration by 21% . Thus, offering an agreement with gyms can be one of the corporate benefits of financial well-being.
This is so that whoever wants to create a gym to improve their personal satisfaction and professional performance does not have to worry about this expense in their accounts. Since the company itself will offer you this benefit, contributing to your income.
Financial management lectures and courses
According to a survey by the Credit Protection Service (SPC) and the National Confederation of Shopkeepers (CNDL) 65.6% of defaulting people have a feeling of sadness, discouragement many are depressed.
This is because six out of ten Brazilians do not have any, or little time, to plan their finances, according to data from the SPC and CNDL itself. The consequence of this is the lack of productivity at work, dissatisfaction and financial stress.
Many Brazilians do not have the slightest notion of financial management and that is how many companies have been betting on lectures and courses to help employees manage their finances.
These corporate financial well-being benefits, through lectures and courses, can help raise awareness of conscientious use of wages, financial planning and account organization.
Lectures can encourage employees to take an interest in the subject. The courses can create an environment for reflection, debate and search for solutions to problems related to indebtedness, investment, accounts and expenditure restraint.
Financial well-being and stress reduction
The corporate benefits of financial well-being have gained momentum as a major stimulus to ease the stress caused by money concerns.
For this reason, these advantages can increase productivity, performance and employee satisfaction . It is important that a corporate financial welfare benefit plan is organized according to the profile of employees.
And the operation of each benefit must have transparency, clarity and objectivity on the part of the company with its employees.
If necessary, make presentations and workshops to reiterate the importance of financial planning and how the company is thinking about contributing to this challenge.