Gyms, massages, medical insurance or restaurant tickets are part of the usual packages of benefits that companies offer their employees. Although they remain services appreciated by workers, the needs are varied and change over time, that is why innovation is also necessary in this area of HR. In this sense, technological innovation also has much to contribute and is visible, for example, in the form of digital financial assistance for employees, a booming trend. And is that, financial education is a field in which the Spaniards still suspend. Data from the latest PISA Report show that Spain is below the European average with 469 points compared to the average of 489 in Europe. Because,
With all this in mind, social benefits are a very important tool to motivate workers and, consequently, increase productivity in a company. More and more companies are seeing a connection between financial and physical health, and, as a result, lack of work performance and absenteeism. And this is where financial wellness programs appear.
What are financial wellness programs?
But what are financial wellness programs? For this is one of the most innovative initiatives that currently exist in the field of social benefits for employees. They focus on issues related to personal finances, which are the occasions that some of the problems that most concern people causing them stress, lack of concentration and absenteeism. Logically they have a significant impact on their work performance, so the personal financial problems of the workforce also end up being problems for companies.
Do not make ends meet, how to face unexpected expenses, the rise of the mortgage, what income will be taken when retiring, etc. affect the daily performance of workers. In fact, according to PwC’s Employee Financial Wellness Survey, 53% of employees suffer from stress caused by financial problems that result in difficulties in their workplace: productivity, motivation, absenteeism. In addition, 30% of employees are distracted at work because of personal financial problems and 46% spend three hours a week managing their finances at work. These are certainly alarming figures. Therefore, if companies provide their employees with a free digital platform to improve their financial education, they will help reduce their stress and consequently increase their productivity. In United States,
To address this situation in the workplace, technological innovation has developed, as noted above, independent financial assistance services based on digital platforms that companies can offer as a social benefit to their employees to help them improve their financial education. These systems are offered through subscription models for businesses, and free for the employee, and allow you to add financial data from various bank accounts, so that you can easily view the data and take control of finances in a way simple. Thus, they make it possible to see the financial statements, analyze where they spend more, set savings targets and access training to improve personal financial health. All this in the palm of your hand, that is, on your smartphone,
Of course, security is guaranteed, as they use encryption technologies with a level of security equal to that of the banking sector. In any case, these systems only read the bank details of the employees to be able to add and order them, they are not transactional websites. In addition, they fully respect employee privacy, as they do not share or sell your financial information. In the case of sumofuturo, the client-server communication is done through the HTTPS transfer protocol, so that the session is encrypted with a SSL digital certificate; all stored sensitive information is encrypted with block encryption. And user keys are never requested. What is wanted with all this encryption is to ensure the security of the data.
Ultimately, financial-based programs based on digital platforms facilitate in an affordable way that companies help their employees to achieve financial fullness understood as the ability of people to control their economy, as well as to decide freely how to live your personal finances. A really useful way of promoting their personal well-being and, as a result, the good progress of a company, which, once again, we remember that they have their greatest assets in human capital.