Improve your team’s financial health and boost their whole well-being
December 2021   WHOLE HEALTH

Improve your team’s financial health and boost their whole well-being

Financial health and mental health is closely related. The figures speak for themselves: according to the ‘Cigna 360 Well-Being Survey’, single-person finances (30%) and the family economic structure (27%) are two of the leading causes of stress in Spain.
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This stress can in turn influence every area of a person’s life, including the working environment. For this reason, it is necessary for businesses to understand how and with what tools they can support their employees in improving their financial health. Read on!

Financial health is a person’s ability to manage their day-to-day financial obligations with peace of mind and security regarding the future. It is a fundamental part of a person’s overall well-being, since financial worries and the stress they cause can affect many other areas of our lives: relationships, work and mental and physical health.

Sleepless nights spent pouring over figures and worrying about how to face unforeseen expenses are common scenes in many workers’ lives, which - if they occur too often or for too long - can lead to heightened levels of stress and affect their mental health.

To avoid this, HR professionals must integrate financial health as an additional factor to take into account when implementing actions aimed at improving the overall well-being of the workforce. It’s here that Cigna Europe  has much to offer. Thanks to services geared to caring for employees’ overall health, organisations can turn the spotlight on those key aspects that form part of people’s lives. You can read about them at this link.

For example, one of the solutions offered by Cigna Europe to help HR professionals deal more efficiently with this challenge is to facilitate employees’ access to psychological consultation. With this service, the company will position itself alongside its workforce to deal with their financial worries and the impact that these may have on their mental health.

Also, from the point of view of providing continuity of emotional support, awareness raising is another factor to keep in mind. It is essential for employees to have the necessary information to realise the importance of taking care of their financial health, just as they would adopt other healthy habits. In this regard, organisations can offer informative talks and lectures by experts. These sessions will bring home to employees how they can improve their quality of life through better management of their income and expenditure.

Finally, businesses can provide training to protect their employee’s financial health, as part of their  health at work strategy. This learning can be provided through workshops that address issues such as: the basic concepts of saving, taking charge of financial freedom, knowing how money works, learning how to turn financial problems into investment opportunities, understanding how and where to invest to get the most out of investing money, etc. The fact that this service is offered by the company itself will reinforce the ties between employee and employer and improve the atmosphere at work. In addition, these kind of activities will enable HR departments to identify employees’ needs and to put into practice various solutions for supporting them in taking care of their financial health.

Each of these actions naturally needs to be personalised and adapted to the situation of each particular organisation and team. But the advantages of improving workers’ financial health are clear: by reducing the stress associated with these worries, general personal satisfaction is increased and general well-being strengthened. Consequently, performance improves, as does productivity and output.

For all these reasons, we encourage you to take one more step in the development of the strategy for the well-being of your team from an overall point of view, without forgetting financial health. Because all the factors affecting people’s day-to-day lives are interconnected (home life, work life, family, financial health, access to healthcare, and support network) and they all have the same weight in the overall health of the workforce.

Find out here about all the solutions and products that Cigna Europe can offer you to help you take care of your team’s whole well-being. Commit to your employees’ health. Now’s the time!


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