APA Center for Organizational Excellence: Abstract Detail: Debt should be priority in financial wellness programs

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Title

Debt should be priority in financial wellness programs

Available Online https://www.benefitnews.com/news/debt-should-be...
Publication Date March 21, 2017
Author Kathryn Mayer
Source Employee Benefit News
Source Type Online News Article
Summary

This article focuses on the importance of including debt as a major topic in financial wellness programs. Experts suggest that debt is currently a huge issue for employees of all ages. One particular type of debt, student loan debt, is an especially big issue, and organizations are advised to offer student loan repayment as a benefit, as this increases retention and good feelings among employees. However, organizations should also focus on mortgage loans, retirement savings plans, and emergency savings plans. The article suggests that services should automate emergency savings contributions like retirement savings plans do. Ultimately, experts say that these components are related, as health, work, finances all affect each other and happiness. The article concludes that financial wellness is, and will continue to be, a very important issue for employees.

Keywords Financial wellness, debt, loan, retention, happiness, health, emergency, retirement
Reference

Mayer, K. (2017, March 21). Debt should be priority in financial wellness programs. Employee Benefit News [Online]. Retrieved March 30, 2017, from http://www.benefitnews.com

"The University of Arizona is honored to be recognized by the Arizona Psychological Association for promoting a psychologically healthy workplace. Our life-cycle services and campus-wide partnerships are designed to promote resiliency and well-being for our most valuable resources-our employees."

Saundra Taylor
Senior Vice President for Campus Life
University of Arizona