Employee programs that combine lifestyle & financial wellness benefits may yield healthier, less-stressed workers, Prudential...
June 21 2019 - 7:00AM
Business Wire
Employers who provide traditional health and wellness offerings
alongside financial wellness benefits are likely to reap the
benefits of a healthier workforce. Research unveiled by Prudential
Financial, Inc. (NYSE: PRU) at the Aspen Ideas: Health festival
suggests a connection between the use by employees of both benefit
types and improved physical and mental health, based on
self-reported outcomes. Prudential’s study found that respondents
who take advantage of these benefits programs are more likely than
others to report lower levels of stress, as well as better physical
and mental health.
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Prudential Wellness Programs Census
(Photo: Business Wire)
Prudential’s report, “The Interplay Between Health &
Financial Wellness Benefits” is based on a survey of 2,000
Americans employed by organizations that offer wellness benefits
like gym memberships, fitness and diet advice, and smoking
cessation programs. The report builds on findings from the academic
community that show even small changes in socioeconomic position
can impact health risk, with incremental increases in income
associated with improved health.
“Workplace health and financial wellness programs can make a
positive difference in the lives of American workers,” said Judy
Dougherty, Prudential’s chief financial wellness officer.
“Financial and physical health are often intertwined, and employers
who provide help on both fronts stand a greater chance of achieving
better outcomes for their employees.”
Among the survey’s key findings:
- Users of workplace health wellness benefits are more likely
to be healthy than non-users. Forty-five percent of users
report themselves to be in good physical health, versus 37% of
non-users.
- Both health and financial wellness programs correlate with
better mental health. Fifty-nine percent of workers who use
health wellness programs consider their overall mental health
“good,” as do 59% of those using financial wellness programs. Those
numbers fall to 53% for those who don’t use health wellness
programs and 55% for those who don’t use financial wellness
programs.
- Non-users of financial wellness programs report feeling
highly stressed compared to users. Just 13% of workers using
financial wellness programs say they have high overall levels of
stress, versus 17% of non-users.
- Employees have an appetite for financial wellness
programs. Nearly a third of workers expressed a desire for
financial education classes, online financial management tools,
digital financial advice and planning, accrued wage advances, low
interest loans, and debt consolidation/payment programs.
“These findings mirror our experience providing financial and
health wellness programs for our almost 50,000 employees,” said
Lucien Alziari, Prudential’s chief human resources officer. “We
have seen firsthand how financially well employees become more
effective employees, less burdened at home and at work by the
stress financial struggles can cause. As a company, we know that
understanding the needs, challenges and desires of our employees
makes us stronger, more attractive to new talent, and improves the
productivity of our workforce.”
For more information, view the full report, “The Interplay
Between Health & Financial Wellness Benefits.”
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial services
leader with more than $1 trillion of assets under management as of
March 31, 2019, has operations in the United States, Asia, Europe,
and Latin America. Prudential’s diverse and talented employees are
committed to helping individual and institutional customers grow
and protect their wealth through a variety of products and
services, including life insurance, annuities, retirement-related
services, mutual funds and investment management. In the U.S.,
Prudential’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for more than a century. For more
information, please visit news.prudential.com.
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MEDIA: Yemi Rose 973-802-7641
yemi.rose@prudential.com Twitter: @yemirose
Discretion Winter 973-802-6701 discretion.winter@prudential.com
Twitter: @PruDiscretion
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