Unless you work on Saturdays, the weekend can be considered a workplace transition as each week ends and new one begins on Monday morning; that is a very simplistic transition. And it does affect your money: you don’t work, you don’t get paid!
While the workforce is also transforming, the blending of work and life looks different for everyone. Embracing the difference makes it more acceptable to each and everyone of us. But for many of us, we are “always on the clock”. There oftentimes are no borders between work and personal. Too many of us focus our happiness on our work life: engagement, culture, team development, stability, protection, and a safeguard against disruption. We look for harmony between work and life, and that includes well being on both the financial and emotional areas.
Not only employees, but also employers see that employees (49% according to MetLife’s 15th Annual “Benefit Trends” study) are concerned, anxious, and fearful about employees’ current financial wellbeing, and the employees are looking to their employers for financial support and security. Employers are concerned and are looking at customizing benefit plans as well as retirement planning as family structures change and retirement dates are being extended. The employers are beginning to include in their benefit objectives “Help employees make better financial decisions.” They are also beginning to recognize that anxiety about finances can affect employees’ personal lives, which can then, in turn, impact their careers. Those who don’t consider themselves financially secure are more than twice as anxious as those who do! It is an everyday occurrence that employees come to work with financial concerns. This affects their productivity and their health. Sleep is being lost, they worry about financial calls coming into work.
Helping employees to be better versed in financial decision making brings peace of mind, reduces financial anxiety, impacts productivity, and helps employees to become more financially secure.
Employees of employers who are recognizing this transition in the workplace are on a path to better financial decision making in their total lives: work and personal!