Tag: Workplace wellness

  • 4 Reasons Financial Wellness Is Important in the Workplace

    Originally published by Huffpost

    Traditional views of wellness focus on exercise and nutrition. And frankly, if everyone ate and exercised perfectly, life would be better for all of us. But counting steps, joining exercise challenges and eating healthy lunches are so much harder when we’re stressed about money. It’s time to take a look at the relationship between financial wellness and overall well-being.

    Here are a few reasons why financial wellness is a critical part of employee well-being:

    Finances are a Major Stressor
    Work isn’t the only thing stressing employees out ─ money can be a huge source of anxiety. In a 2015 PwC survey of working adults in the U.S., 45% of respondents said dealing with their finances is stressful.

    For some, money can be a constant source of stress. In fact, a 2015 report conducted by the American Psychological Association (APA) found that 72% of adults feel stressed about money at least some of the time, and 22% experience extreme financial stress. When it’s extreme, health suffers. Some respondents said they thought about skipping or actually did skip doctor visits because of financial concerns.

    The same APA study found that those in lower-income households with extreme financial stress are more likely to engage in unhealthy behaviors to manage that stress. Think watching TV for hours, ice cream binging and drinking one too many to manage that stress.

    We know that chronic stress is unhealthy on its own, but financial stress multiplies the impact. People may avoid health investments to save money.

    Managing Finances Takes Time
    Managing finances isn’t just stressful, it’s time-consuming. Without control of their financial health, employees bring their worries into the workplace. In fact, 37% of those surveyed by PwC said they spend three or more hours at work each week thinking about their personal finances.

    Some employees even miss work due to money woes, according to a SHRM survey in June 2014. Among HR pros surveyed, 37% indicated that employees had missed work because of a financial emergency. And another study published by Rand in 2015 found that lack of sleep, financial concerns and taking care of family members are negatively associated with productivity.

    Stress is distracting — and when employees worry about their financial wellness, they lose focus and are less productive in the office.

    Employees Want Support
    Employees feel the burden of all this stress, and they want their employers to help support financial wellness.

    Although the SHRM study found 81% of HR professionals said they provide retirement planning to their employees, a majority don’t provide credit score monitoring or financial literacy training.

    But employees, especially those just out of college, want financial planning benefits.

    In a 2015 survey of employees ─ published by Quantum Workplace and my company, Limeade — almost 40% of employees younger than 25 said they wanted their employer to provide these benefits. Employees who feel stress from money issues are looking for help to improve their financial wellness.

    Financial Wellness Improves Engagement
    In our study, 71% of employees surveyed said they want standard-of-living raises — but only 31% of employers provide them as financial benefits. I’m a big fan of market — and merit-based pay — but employers should be aware of cost-of-living realities, especially for lower-paid employees.

    Cost-of-living adjustments account for increased living expenses due to inflation. They may alleviate stress and allow more work focus. When you give employees these raises, they’re 15% more engaged, on average.

    Providing financial benefits also shows employees that the organization cares about them as individuals, inspiring loyalty and motivation. When employees feel their employers care about their health and well-being, they’re 38% more engaged.

    Investing in financial wellness boosts the overall well-being of employees, increasing their health, productivity and engagement.

    To set up a 10 minute custom consultation, email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having a workplace ATM and the surcharge-free ATM options we offer.

  • Protect your Employees and Provide a New Benefit with an ATM in the Workplace

    Since the first case of the novel coronavirus (COVID-19) was confirmed in the United States in January 2020, life as we know it has changed dramatically. Social distancing, plexiglass barriers, face masks, frequent hand washing, the use of hand sanitizer and meetings via Zoom have all become the new norm.  

    As companies begin to reopen, how to adequately protect employees is on the minds of executives. In addition to following the Centers for Disease Control (CDC) guidelines for workplace safety, many companies are looking for creative ways to make their staff less anxious as they return to work.

    ATM at Work: A Creative Way to Safeguard Staff and Add a Benefit

    There are many advantages to having an ATM in the workplace. It is a convenient way for employees to get cash and do routine banking, it saves employees valuable time, helps workers save more of their paycheck with reduced or no fee transactions, but most importantly having an ATM on-site helps to keeps staff safer in our new post COVID-19 world.

    For many employees, especially hourly employees, cash is essential. According to the latest statistics from the Federal Reserve, 42% of transactions under $25 and nearly 50% under $10 are in cash, and households earning less than $25,000 annually prefer cash to other payment methods.

    Having an ATM in the workplace, exclusively for staff use, is a great way to ensure the safety of your employees and is a benefit your employees will appreciate.

    Social Distancing & Disinfecting – With an on-site ATM, employers choose the safest location for the machine. The company controls other variables, as well, such as how often it is cleaned and sanitized. They can also limit who has access to the ATM, establish perimeters for social distancing, and provide guidance to restrict traffic as needed. Unlike public ATMs, the employer can directly monitor all of these procedures. 

    Cash is Safe: Viruses Don’t Spread Easily on Surfaces – Despite early information that came out during the pandemic, cash is safe according to medical experts and central banks around the globe. The CDC also recently stated that “the virus does not spread easily on surfaces” such as ATMs, although it’s still recommended that anyone touching a foreign surface wash there hands.

    Time is also on the side of company ATMs when it comes to the transmission of any virus. Most viruses live on porous surfaces for no more than 24 hours. Its unlikely employees will touch cash that has been handled by anyone in that time frame. The cash withdrawn from an on-site ATM is most likely to have sat in the machine for much longer than the time any virus would be present.

    Reduced Physical Danger – Beyond the immediate health concerns, an ATM in the workplace will also lessen the physical dangers that employees face using public machines. As life returns to normal, grabbing cash and running errands after a shift or during the lunch break is common for most people. An on-site ATM offers your employees more than just a clean environment, there is little chance of thieves having access to the machine and hacking card numbers. Also, more violent crimes – such as robbery – are dramatically reduced when using an ATM in the workplace.

    Time Saver for Employees – Another advantage of a workplace ATM is the time-savings to employees. Hourly employees can be profoundly positively affected when employers provide an on-site solution. A recent case study conducted at a company in Texas demonstrated the impact. The Texas company employs 650-700 workers and has two full-time shifts. ATMatWork estimates that employees at the location saved approximately 400 hours on average each month. It was demonstrated to be crucial for hourly employees who only have a half-hour for lunch and short breaks during the day.

    Saving More of Their Paycheck – With ATMatWork offering many surcharge-free options, employees and staff can save more of their hard-earned paycheck. The financial advantages of an ATM in the workplace for employees are evident in the study mentioned above. The Texas employees completed 1,325 transactions in the first month. While 517 of these were balance inquiries, which are always free, 732 cash withdrawals were performed ‒ saving employees a total of $5,480.66 in surcharge and bank fees. The employees had previously been using ATMs off-site before the installation and paying an average fee of $4+ per transaction.

    As employees return to work, now is a great time to add an ATM for employee use – to ensure the safety of staff and provide a cost-effective benefit that will help to reduce anxiety and help staff save more of their hard earned paycheck.

    To learn more, call at 866.440.4700 or email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • 4 Ways Employers Can Promote Workplace Wellness

    As the country reopens from the pandemic, there are topics up for debate all over the news and social media. What is not up for debate is that employers should promote workplace wellness and protect workers upon reopening. This task doesn’t have to be overwhelming.

    Here are four tips business owners can implement immediately to facilitate wellness among staff.

    Move Meetings Online. If you haven’t taken this opportunity to move staff meetings, forms, and training online, you are missing the boat. A plethora of tools are available to help any size company transition to and create amazing online experiences to accommodate staff needs. Employers can utilize Zoom, Google Meet, Teams, Slack and more to foster relationships without jeopardizing safety – even if staff is working in the office.

    Establish Strict Cleaning Protocols. The way we do business has changed, and cleanliness is top of mind for everyone. Many salons, retail shops, restaurants, and more are asking patrons to wash their hands or use sanitizer upon entry immediately. Consider implementing similar guidelines for team members. These measures foster a sense of wellness in the organization. All staff should have cleaning supplies handy and should be held accountable for wiping their area and work spaces down frequently throughout their shift.

    Rearrange Your Office. The chances are that even if you’re back in the office, it isn’t the same. Physically distancing desks, chairs and rearranging meeting rooms is a must to protect the well being of employees and guests. Separation is a crucial component in fighting germs. Consider mounting plexiglass on desks and counters, especially if it is a frequently visited area. While it may seem a little odd at first, employees will appreciate the lengths you will go to provide a safe environment.

    Add a Workplace ATM. Allow your staff to do their banking at work and minimize contact with the public by providing an ATM for employee use. Your company can control how often the ATM is cleaned and ensure users regard social distancing guidelines. Additionally, there are a variety of ATM programs available, including low or surcharge-free options that help your staff safe more of their paycheck as well as providing them with a safe environment to get cash and do routine banking. This convenient and cost-effective benefit will save employees time, while keeping them safe.

    As your business reopens, it’s important to keep in mind that the best systems are the ones your staff use. Enforcing new policies is just as important as creating new opportunities to keep your staff safe and providing additional measures that will make them less anxious as they return to work.

    To learn more, give us a call at 866.440.4700 or send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.