{"id":491,"date":"2021-11-17T23:01:00","date_gmt":"2021-11-18T07:01:00","guid":{"rendered":"https:\/\/immixgroup.ca\/blog\/?p=491"},"modified":"2022-02-07T10:12:48","modified_gmt":"2022-02-07T18:12:48","slug":"3-action-steps-employers-can-take-to-reduce-employee-financial-stress-and-increase-financial-literacy","status":"publish","type":"post","link":"https:\/\/immixgroup.ca\/blog\/2021\/11\/17\/3-action-steps-employers-can-take-to-reduce-employee-financial-stress-and-increase-financial-literacy\/","title":{"rendered":"3 Action Steps Employers Can Take to Reduce Employee Financial Stress and Increase Financial Literacy"},"content":{"rendered":"\t\t
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By\u00a0Lindsay Byrka<\/strong>\u00a0| BA, BEd, CFP
Vice President, Immix Group: An Employee Benefits Company<\/a><\/p>

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How can you assist your employees in achieving financial wellbeing?<\/strong><\/h3>

November is Financial Literacy Month in Canada, and one of the key themes for 2021 is the importance of\u00a0building financial resilience in challenging times<\/a>.<\/em><\/p>

When it comes to promoting employee wellbeing, we often think of health and dental benefit programs, offerings related to health and fitness, or certain elements of corporate culture. What we might not initially consider to be part of employee wellbeing is Financial Wellbeing. However, as one study after another shows us, money is the primary source of stress for most people. The\u00a02021 Benefits Canada Healthcare Survey<\/a>\u00a0confirmed this once again, with 36% of respondents listing \u2018finances’ as their primary source of stress.<\/p>

So, we know that our teams are worrying about money.\u00a0 But how can you, as an employer, help to reduce employee stress over money matters? Can you play a role in promoting financial wellbeing?<\/p>

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What does Financial Wellbeing mean and how do you know if you have achieved this?<\/strong><\/h3>

The theme for Canada’s financial literacy month this year is building financial resiliency, which essentially means the ability to withstand unexpected or difficult financial situations.<\/p>

\u201cFinancial well-being describes a condition wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow them to enjoy life. It’s determined by the extent to which people feel that they:

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