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