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The Convergence of Health and Wealth: Holistic Support for Your Workforce

In the last month, businesses have been forced to adapt to a changing environment at an unprecedented pace and scale. For many, the challenges of keeping employees engaged and working despite threats to their health, their finances, and their time, has been overwhelming.

It has become increasingly clear that we must recognize and support our employees as individuals facing circumstances outside of the office that can drastically impact their ability to stay focused and productive at work.

Prior to COVID-19, it may have been too easy to ask employees to ‘turn-off’ the noise that may exist in their lives the minute they step into the office. But through this situation, in a very dramatic way, the humanity of our workforce shines through.

Ultimately, employers must ask themselves – what impact does overlooking the individual stressors in my employee’s lives have on the health of my organization and its culture?

To meet the moment and prepare for the future, employers may also ask themselves:

  • What benefits offerings can be tailored to better meet the needs of my employees?
  • What solutions might better resonate to not only to help attract and retain but to help ease employee stressors impacting their overall health and ability to retire on time?
  • How can we all learn from this experience and adapt to take into consideration the ‘whole employee?”

Answers to these questions have informed our organizational goal of engaging to improve the financial, physical, and mental health of the workforce. We know that employers and employees alike want a modern, digital, technological experience that does not overlook the importance of human interaction.

One example of a retirement plan solution we built to meet this goal is Personalized Portfolios. This managed account solution gives employees access to investment strategies unique to their investor profile within the retirement plan. It looks at more than just their age to determine the strategy that is most appropriate for them.

This solution also provides employers peace-of-mind through additional fiduciary protection and oversight, improves outcomes, and eliminates emotional investment decision making by employees. When coupled with a financial wellness solution that includes proactive, outbound calls to employees from ‘financial mentors,’ employers can help address the root causes of financial stress. This is just one example of how we can take a traditional benefit such as a retirement plan and shift from a one-size-fits-all strategy to one that is accessible and personalized to meet the needs of each employee.

There is a connection between the health and financial security of your employees and your ability to drive your business forward. This is an opportunity to adapt your strategies to better support your employees while building a business that is future-proof.

Learn more about OneDigital’s expansion into the retirement and wealth vertical, providing employers with the ability to deliver holistic benefits support from a single provider.

Investment Advice offered through Resources Investment Advisors LLC, (d/b/a OneDigital Investment Advisors) an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.