Employee Financial Wellness: Getting C-Suite Buy In and Measuring for Success
In this bonus episode of SECURE by FinFit, Charles Lattimer, Chief Innovation Officer, FinFit, and Tim O’Neil, Sr. Workforce Solutions Specialist, TrueNorth Companies, talk about the importance of financial wellness in the workplace and how HR executives can establish a data-driven strategy for success. Due to factors such as inflation and a tight labor market, employee health and well-being has become a priority for many organizations. This has shifted from being a “feel-good” factor to being part of a strategic business plan. One of the biggest challenges is winning over the C-suite by telling a data-driven story that demonstrates the impact on retention, reduction of healthcare costs, and other key metrics. The use of data sets such as payroll data, population health data, and claim level data are important in guiding decision-making for employee health and well-being programs. One of the biggest opportunities is getting to a point where predictive models can identify parts of workforce populations that need intervention.