Tackling Financial Stress Through Wellness Programs

Tackling Financial Stress Through Wellness Programs

Addressing financial stress has become a critical focus for employers as its impact on productivity and mental health becomes increasingly apparent.  Companies are evolving their wellness programs to tackle this challenge by integrating financial education and support into traditional health initiatives.  This shift reflects the growing understanding that financial well-being is a cornerstone of overall employee wellness, influencing not only mental health but also workplace engagement and long-term stability.

By offering tools to alleviate financial stress—such as literacy programs, retirement planning resources, and personalized guidance—organizations empower their teams to navigate financial challenges with confidence.  This approach strengthens workforce resilience and ensures a more balanced, secure foundation for employees’ futures.  Fred Barstein, CEO and founder of TPSU and 401kTV, highlighted these benefits in a conversation with Sara, a senior benefits analyst. Following a TPSU program at Marquette University, Sara shared how her organization’s 2,500 employees benefit from initiatives like 401(k) beneficiary updates and one-on-one financial sessions, fostering a comprehensive approach to physical, mental, and financial health.

Read the Full Transcript Here:

Fred Barstein:

Greetings. This is Fred Barstein, CEO and founder of TPSU and 401kTV. Just completed a program at Marquette University in Downtown Milwaukee, and I’m here with Sara.

Welcome, Sara.

Sara:

Thank you.

Fred Barstein:

Okay if we ask you a few questions?

Sara:

Yes.

Fred Barstein:

Okay, great. Before we start, tell our audience a little bit about yourself and the size of your organization.

Sara:

Sure. My name is Sara, and I’m a senior benefits analyst, and I work for an employer that has around 2,500 employees.

Fred Barstein:

2,500. Great. Thank you. Sara, one of the things you talked about was part of your wellness and benefit program. You give credit for somebody doing a financial wellness program. Can you tell us a little bit high level what that program is?

Sara:

Sure. Our wellness program happens every year and employees have the option to complete several different tasks. Those include the 401k beneficiary completion, 401k education with an advisor one-on-one, a medical exam, a dental exam, or there’s one other one.

Fred Barstein:

You don’t remember it?

Sara:

Yeah.

Fred Barstein:

So part of that is a financial wellness?

Sara:

Correct.

Fred Barstein:

So why did you do that?

Sara:

It helps combine physical and emotional mental health into well-being versus only being a physical aspect.

Fred Barstein:

Right. So they all go together. Mindfulness is important for health. How’s it working?

Sara:

I think it works well. It definitely helps our campaign to have beneficiaries on file for the 401k. It helps to encourage our employees to talk one-on-one with an advisor to ask individual questions that they might not be comfortable asking in a group setting.

Fred Barstein:

Great. So final question, couple of things you picked up here at TPSU and do you think it’s beneficial for people to come to the program?

Sara:

I do. This is my third year attending. I think it’s very beneficial. It’s a great annual reminder of fiduciary responsibilities and things to think about and consider. It’s great to hear from experts in the industry and connect with people locally in the community.

Fred Barstein:

Great. Well, thank you for your time today.

And thank you for watching 401kTV. Please stay tuned for more programs like this.

Sara:

Thank you.

Fred Barstein:

Thanks.

FOLLOW US:

Thank you for visiting our site!

TRAU, Inc. and its affiliates TPSU and 401kTV do not provide investment, legal, tax or accounting advice. 401kTV readers and viewers should consult their legal and tax advisors for guidance. All materials, including but not limited to articles, directories, photos, videos, graphics etc., on this website are the sole property of TRAU, Inc. and are intended for educational purposes only. We do encourage your sharing 401kTV content with Plan Sponsors; however, unauthorized use of any and all materials is prohibited/restricted.

Permission to use any of the materials, etc. on any of this site or affiliate websites may be requested in writing at [email protected] and may be granted in writing on a case by case basis. Use of all editorial content without permission is strictly prohibited.

Scroll to Top