Employee reward programs run the gamut of incentives.
Employee reward programs run the gamut of incentives. One major trend of these initiatives is focusing on workers' well-being – both physically and fiscally.
While firms don't need to offer financial incentives as part of employee rewards programs, some companies are seeking to help staff members manage the money they do have more adeptly.
A recent article in Workplace Savings and Benefits points out that there are a number of reasons – and benefits – for companies to facilitate basic financial education opportunities for their employees, including reducing stress, improving productivity and fostering a greater understanding and appreciation of existing benefits.
There are a number of ways businesses can institute financial education programs. "It depends on what the organization is trying to achieve and the resources it has at its disposal," Charles Cotton, performance adviser, told the news source. "Some organizations … are doing it through face-to-face or meetings; others are doing it online. Some would bring in outsiders; others will try and do it internally."
Managers and human resources departments can discuss the options with employees to determine what processes and information they would find the most helpful.