Nurse Retention Tip: Add Money Management to Corporate Wellness Programs

Written by LeAnn Thieman, CSP, January 10th, 2013

Wisely, many organizations and hospitals have initiated employee wellness programs, focusing mainly on preventative care (diet, exercise, smoking cessation programs and nutrition counseling.) Some are now including financial wellness programs. Both are great nurse retention tools.

Some employees come to work bringing their financial concerns with them. This leads to increased absenteeism, frequent personal phone calls, low morale, poor concentration, and lower productivity.

Not only is implementing a wellness program effective in reducing the company’s health care costs, it can be leveraged to reduce the employee’s financial stress and increase their job satisfaction.

There are a variety of financial wellness programs available. Employers may have their benefits providers reach out to employees or have a third party answer questions and route them to providers of various financial services. Some offer on-site educational sessions in group settings. The sessions may include topics such as debt management, cash flow management, savings strategies, tax saving strategies, estate planning techniques, insurance education, etc.

Some employers take it even a step further and provide opportunities for their employees to meet one-on-one with an experienced financial adviser to help them better understand how to best integrate their current benefit programs with their personal financial and retirement plans.

Many believe that these programs help increase the financial wellness of a company’s employees. Financial wellness within employee wellness programs will lead to higher productivity, retention and overall job satisfaction.

To learn more nurse recruitment and retention strategies and how to increase work life balance for nurses and healthcare professionals, check out my new SelfCare for HealthCare program. After you take a look, CONTACT ME DIRECTLY to talk about customizing this powerful program for your employees.

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