According to the American Heart Association, the No. 1 cause for heart attacks is stress, and the No. 1 cause of stress is money. When employees are financially stressed, it affects their job performance and productivity and can even erode workplace ethics and integrity.
This doesn't mean that financially strapped employees are "problems," but it does strongly suggest that when they're working but still have too much month at the end of their money, they will not be fully engaged or invested in their employer's vision. It also suggests that some basic employee financial stress is not being addressed. And that's bad news for everyone involved.
Some employers are starting to realize that financial wellness is an important component of employee wellness, and contributes to the financial well-being of the company itself.
According to John Hope Bryant–a member of President Obama's Advisory Council on Financial Capability for Young Americans and author of the book How the Poor Can Save Capitalism: Rebuilding the Path to the Middle Class–helping employees alleviate financial stress is innovative, low-cost, has measurable benefits, and is an efficient way employers can raise morale and create loyalty. Says Bryant, "Giving people financial literacy and an opportunity for self-determination means giving them hope. Financial literacy is nothing less than the new global language of money, and in today's world we all need to be bilingual."
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