Employees are increasingly regarding financial wellness benefits as indispensable, as indicated by discoveries in Vestwell’s annual Savings Industry Report. Financial wellness is about finding a balance between covering everyday expenses and saving for the future, akin to maintaining physical health. Just as one needs training to run a marathon, achieving financial stability requires access to the right tools and strategies. Employers looking to “Empower Your Financial Future” need to grasp employee expectations, as financial wellness programs are transitioning from mere perks to crucial elements of workplace benefits. With employees facing economic uncertainties and retirement complexities, there’s a rising demand for comprehensive financial solutions beyond traditional retirement savings vehicles.
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As the 2024 open enrollment season approaches rapidly, having a carefully devised strategy becomes pivotal. Not only will it aid in retaining your valued team members, but it can also serve as a magnet for potential star players. Here is a basic guide to ensure you are fully prepared for the open enrollment period:
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