Financial well-being is a complex topic, with living expenses, debt, and health care costs all on the rise. Add the financial impact of the pandemic, and you may have employees more stressed about money than ever before. Financial wellness programs can have an immediate impact on all aspects of employees’ lives. More specifically, financial wellness programs ensure a long-term, positive impact on their contributions and engagement at work.
In a recent survey, 72% of employees stated they’d be attracted to a company that cares about financial wellness more than their current employer.* At the same time, business and HR leaders are continuously faced with new challenges to stay competitive in today’s gig economy. Keeping employees satisfied is key to retaining your top workers. Giving them options for early wage access and other financial wellness benefits can help.
*2022 PWC Employee Financial Wellness Survey.
Removes the need to wait for the traditional payroll cycle, giving employees the freedom to access a portion of their earnings on their terms, without disrupting the payroll process.
isolved’s Employee Marketplace provides staff discounts on prescription medicines, entertainment and other reprieve from day-to-day costs.
As costs rise, child and elderly care rates are also increasing. Employees are forced to make decisions on doing without care or not making it to work. Through isolved Benefit Services, employees can elect to set aside a pre-taxed amount to be reimbursed for child and elderly care costs – helping with the caregiver crunch.
isolved Benefit Services makes it easy to offer employees a transit plan to help cover commuting costs with pre-tax income.
Employees can curb premium costs on high-deductible plans with an isolved Benefit Services HRA, as well as make informed healthcare and cost decisions with an isolved Benefit Services HSA.
With isolved Expense Management, employees no longer have to wait extended time periods to get reimbursed for mileage and other on-the-job accrued costs – helping employees get to job locations on time.