A new report suggests that employee benefits consulting may do wonders for business owners' bottom lines.
According to a white paper published by e-commerce retailer Purchasing Power, business owners who make their employees' financial health a priority tend to perform better in terms of financial well-being.
Among other things, the report, titled "Beyond the Paycheck: Getting Employees on the Right Financial Track – and Staying There," lists the variety of ways in which employers have gone about improving their workers financial health, implementing employee benefits, employee purchase programs and offering advisory services. It also discussed the payoff that businesses have received as a result of making these programs available.
"It's in an employer's best interest to provide programs and services to help employees get to and remain financially healthy," said Richard Carrano, president and CEO of Purchasing Power. "And it means more than just providing a paycheck and core benefits. Offering benefits that provide employees the opportunity to improve their financial wellness, in addition to their physical health, is a win-win for everyone."
According to a separate analysis performed by PricewaterhouseCoopers, 97 percent of employees say they spend time at work thinking about personal financial issues they may be experiencing.
