Tuesday, June 8, 2021

4 Tips to Increase Employee Productivity


Forbes author Serenity Gibbons posted a recent article with four tips to increase productivity in the workplace. With many still working remotely due to the pandemic, she writes "Leaders need a more nuanced set of solutions to make and sustain real productivity gains." The tips she includes are:


1. Reevaluate Meeting Needs and Expectations: she suggests using a simple test to recurring meeting: "Is this engagement the best use of its participants' time at this particular moment?"

 
2. Use An Agenda For Every Meeting: A good meeting should be short, direct, and sweet. It covers current and future expectations while clarifying responsibilities of participants. Straying off topic while dragging meetings longer than necessary discourages engagement and leads to unsatisfied employees.


3. Implement A Goal-Setting Framework To Set And Measure Desired Outcomes: "Productive teams work toward goals and always know where they stand in relation to them." Whatever framework your organization implements for goal-setting, it should be flexible, team-oriented, and include a timeframe for participants.


4. Retrain Team Members To Manage Their Own Time Better: By investing in training for productivity, organizations are increasing their core competencies while encouraging success among employees; it is foundational.


For more information on these tips to increase employee productivity, please read: Four Tips To Increase Employee Productivity


Written By: Your Financially Fit Employees Team

Friday, May 28, 2021

How Financial Stress Affects Health

In a recent podcast from the American Psychological Association, psychologist and researcher Linda Gallo, PhD, discusses how financial stress can negatively impact one’s overall health. A recent study from the APA found that money continues to be a top source of stress for all Americans from all economic backgrounds. Long-term stress, regardless of source, can contribute to chronic illnesses and disease including diabetes, heart disease, and more. Gallo states that managing financial stress should be a priority for every American regardless of socioeconomic background. Tips she gives for managing financial stress include:

  • Building good social support (formal support groups, religious organizations, family, friends, etc.)

  • Seeking help from a psychologist or mental health provider as needed

  • Seeking guidance from financial wellness supportive services

  • Managing overall stress by regularly exercising, eating well, and taking time to relax

For more information on how to manage stress and increase your understanding of the link between chronic health issues and financial stress, visit: Speaking of Psychology: The stress of money

Written By: Your Financially Fit Employees Team


Wednesday, May 19, 2021

Employers Role in Student Loan Debt of Employees

In an article recently written by Amanda Schiavo in benefitnews.com, she highlights how student loan debt is negatively impacting employees’ ability to perform at work, celebrate major life events, and their overall mental health. In terms of how employers can help, Schiavo writes, “It is critical for employers to recognize when employees are struggling and provide support and resources to help them improve their financial wellness and overall mental health. The two are inextricably linked, and employers can’t expect their employees to bring their full selves to work and be productive when they are struggling to pay rent or buy groceries.” Benefits such as offering student loan assistance reduces employee turnover, absenteeism, improves productivity, and can greatly and positively impact an organization’s bottom line. By assisting employees with debts, employers can expect to see a dramatic increase in employee productivity, satisfaction, and engagement. Working with a company like ours can teach employees how to manage their funds properly while setting both short and long-term goals for their finances. To learn more about how employers can take action to increase mental and financial wellness, please visit: Student loan debt is crushing employees’ mental and financial wellness. Is it time for employers to take action?


Written By: Your Financially Fit Employees Team 


Monday, May 17, 2021

The Impact of Financial Wellness on Employees




Finances are one of the most common stressors in modern life. They distract us from our family, hobbies, social life, and more. Learning to become financially well benefits people in all areas of their life. As an employee, financial wellness leads to greater engagement, better focus, increased productivity, and overall greater satisfaction. When employees are not stressed about money, they have a greater sense of purpose in the workplace with less distractions. In a recent survey conducted by Lincoln Financial Group, seventy-nine percent of those surveyed said the pandemic has impacted their views of planning financially for their future, while ninety percent said that they want to take action to improve their financial standings over the next three months. Becoming financially well means you are able to meet your current financial obligations in addition to planning and saving for future ones. It means finances are not your biggest concern and you have full control over yours. Our team’s goal is to provide you the tools and knowledge necessary to reach your financial goals and become financially well. To read more about the survey conducted by the Lincoln Financial Group and how financial wellness impacts employees, please visit: US Adults Are Looking to Improve Their Finances.

Written By: Your Financially Fit Employees Team


Thursday, May 6, 2021

Ways To Practice Financial Self-Care


A study conducted by CreditWise in February found that over 73% of Americans surveyed rank finances as their top cause of stress. In an article written by Levi Leidy from gobankingrates.com, Leidy discusses ways in which we can implement financial self-care practices into our daily lives to reduce this stress and increase our overall quality of life. Leidy lists seven ways to practice financial self-care:

  1. Get Clear on Your Financial Situation: figure out what you are working with and how you can improve

  2. Set Financial Goals: whether this is reaching a savings goal amount or paying off debt, goals keep us accountable

  3. Prioritize Your Debt: the longer you take to pay it, the more you will owe. Make this of utmost importance! 

  4. Make a Budget: this will help you stay organized and reduce frivolous spending

  5. Check Your Bank Account Regularly: sometimes we forget about that $8 latte or $15 salad we purchased; it is beneficial to always know where you stand financially to make sure you have enough for bills and upcoming purchases.

  6. Don’t Beat Yourself Up If You Overspend: Life is short after all, and sometimes we need a nice dinner out or that extravagant pair of shoes. Always remember you can “do better the next time around.”

For more information on financial self-care practices, visit 7 Ways to Practice Financial Self-Care


Written By: Your Financially Fit Employees Team


Thursday, April 29, 2021

Financial Wellness Amidst a Pandemic


Ramsey Solutions conducted a financial wellness study titled the “2021 SmarDollar Financial Wellness Benefits Study” earlier this year and found that “employers have never been better positioned to help their employees than they are right now through the power of financial wellness.” 77% of employees surveyed stated that the pandemic had a large impact on their mental health, and 68% of employees surveyed stated that the pandemic had a significant impact on their financial health. It is evident that both business and their employees were hit hard this last year, and now is a better time than ever for employers to help their subordinates. As stated in the article, financial wellness is when employees:

  • Have control over daily finances

  • Have enough cushion for financial emergencies

  • Have limited debt and can control expenses without a credit card

  • Are on track for their financial goals

Financial wellness impacts every aspect of our lives, and this study highlights the importance of an employer’s role in their employee’s financial wellbeing. For more information on this article and the importance of financial wellness, visit: Employee Financial Wellness Can Wait No Longer.


Written By: Your Financially Fit Employees Team

Wednesday, April 21, 2021

How Financial Wellness Can Benefit Your Organization

 

Countless research (done by our own company as well as outside sources) has shown how financial wellness programs benefit employees on the job as well as life at home. When a person feels competent with budgeting, saving, debt management, and planning for their future, it can positively impact every aspect of their life. Employees become more productive, engaged, and satisfied with their accomplishments. At home, employees will be less stressed and have more time to focus on hobbies and family life rather than worrying about their finances and becoming disengaged with daily life. By providing employees with dynamic financial wellness programs such as the services we offer, companies can expect to meet objectives swiftly while increasing employee satisfaction and loyalty.  For more information on how employers can help employees with financial stress, visit How Your Employer May Help With Financial Wellness.


Written by: Your Financially Fit Employees Team