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

"Receiving the National Psychologically Healthy Workplace Award is truly a confirmation of the many programs and services we have implemented over the years to address job-related satisfaction for our employees. We're very honored to receive this recognition."

Mark Richardson
President and CEO
Great River Health Systems