What a year, 2020... The past 12 months have been eye-opening for insurance companies and employees alike, and though it has been challenging, the knowledge and insight gained is leading us all in the right direction. Employers across industries now recognize the importance of offering financial wellness services to support their employees. They are beginning to understand why single-point solutions don't quite hit the mark and how a holistic financial wellness program can impact their employees' productivity in a big way. For many, the workplace's future will consist of adopting technology that allows employees to be more efficient, successful, and loyal. |

Effects of the pandemic in 2020

Through the COVID-19 pandemic, employers have realized that employee well-being is a critical component in employee productivity and performance, as companies are looking at much more integrated approaches to factor in physical, mental, and emotional health benefits. For many Americans, the number one source of stress has always been money. The American Psychological Associations recently reported that 70% of Americans list the economy and their work as main sources of stress. This rate of stress brought on by finances and employment increased dramatically in 2020. No one could have predicted the effect the coronavirus pandemic would have on the world. It has highlighted the importance of accessible financial, mental, emotional, and physical wellness services. |

4 things employees will be looking for in 2021

The coronavirus-driven virtual work environment has been the catalyst for a shift in benefits that acknowledge the merging of 'personal' and 'business.' Employees are turning to their employers to help with all aspects of their lives, as there is no longer a clear delineation between 'work' and 'life.' So, while employees have a renewed focus on benefits, what will they be looking for in 2021? 1. Flexibility. Employees want employers to trust in their ability to manage their responsibilities. Whether this equates to eliminating the traditional paid time off benefit and allowing employees the freedom to determine when they have the capacity to take time off, enabling them flexibility during the day when they're 'on the clock,' or giving them a choice to have a hybrid work model, they want to decide. Employees want to know that they are in control of their lives. 2. Stability. The pandemic has demonstrated how important it is to have stability in key aspects of life: reliable employment, mental and emotional fortitude, a solid financial foundation. The ability to successfully sustain these elements is critical to employees' overall well-being. They are looking to their employers to provide resources that allow them to navigate personal and environmental changes and maintain their well-being effectively. 3. Health. Another critical need that has been heightened in light of the pandemic is the focus on health and well-being. Medical benefits are being highly scrutinized by employees. Health/wellness programs, HSA/FSA opportunities, mental health coverage, extended family care benefits — elements that contribute to their overall well-being. 4. Wealth. And this doesn't just mean monetary wealth. Employees want to feel satisfied as contributing members of society. They want a purpose, and they want to be recognized for their efforts. They want to feel valued at their place of employment, and they want to know they are making a difference. They want to support their communities, their families, charities they believe in. They want to work for an organization that allows them to not only achieve personal success but also contribute to the greater good. Click through the slideshow above to see the four areas of employee benefits that are expected to see increased adoption or innovation in 2021. |

Financial wellness becomes a most-wanted benefit

A holistic financial wellness program gives your employees the resources to pursue opportunities in all aspects of their lives to achieve overall well-being. Heading into 2021, financial wellness tops the list of most desired programs because employees want to be seen and heard and feel like their needs are essential to the organizations they devote so much time and energy to. David Kilby is the president and CEO of FinFit. Related: |

• Five best and worst states for health and well-being
• How to fuse financial wellness skills into your insurance practice
• 10 ways your company can support Black colleagues, improve well-being