Supporting employees beyond the January blues
Blue Monday is nearly upon us. And if you’ve never heard of it before, the clue is in the name. It’s said to be the gloomiest day of the year due to wintery weather, general tiredness, and post-holiday blues.
What also makes it worse is that with Christmas and New Year behind us, credit card bills start to arrive and pay day feels a long way off, so it’s no surprise people start feeling a bit low.
Financial health is important
As finances are a key concern for people in the month of January and February, supporting financial wellbeing for your employees is important.
Six in ten employees said their behaviour changes when under financial pressure according to Neyber’s DNA of Financial Wellbeing 2018, which polled 10,000 UK employees and 500 employers.1
When employees worry about money it can lead to stress, mental health issues and extended absences from work. In fact, financial stress costs UK businesses £120.7 billion every year.2
Helping your employees with their Financial Wellbeing can improve quality of life and make them feel better about themselves. And as any business knows, happy employees mean a happier and healthier business.
It’s not just one day
We believe as good as Blue Monday is for raising awareness around mental health, it’s not something that can be solved in a day. Employees need on-going support that they can access at all times. That’s why more and more businesses are implementing Employee Assistance Programmes (EAP).
Our programme is provided by Health Assured, the UK and Ireland’s largest award-winning health and wellbeing network, which helps make a positive difference to over 9.5 million people. Working closely with them, we’ve developed an EAP that provides a range of resources that aim to help keep employees healthy and happy in work.
It's designed to help manage absence rates and increase staff retention in work, as well as help in the duty of care for all your employees, whether they’re covered by us or not. And the good news is it’s provided at no extra cost with our Group Protection products, and is available around the clock - 24 hours a day, 365 days a year.
Employee Assistance that goes further
Many people think an Employee Assistance Programme is just for help with stress and mental health issues. But in fact, they also provide financial support and advice.
Our EAP provides your employees with access to trained counsellors and advisers who can provide financial information and guidance at any time, day or night. Their support could make a huge difference in helping employees resolve their financial issues.
Help whenever, wherever you need it
These days, we use smartphones to do everything from checking our bank balance to ordering dinner. So it makes sense to provide financial education and tools in the same way.
As part of our EAP, we provide employees with access to a Health Assured smartphone app – My Healthy Advantage. As well as bespoke features to support an employees’ mental and physical health, it also provides financial education and tools like a weekly mood tracker, 4 week plans to improve health and mini health checks. No wonder it’s the most popular and comprehensive business wellbeing app in the UK and Ireland.
What’s also good about an app is that many employees are uncomfortable requesting support services in person or over the phone. Our app allows them to access information in a way that feels safe and comfortable for them.
Beyond the January blues
Find out more on how our Employee Assistance Programme can help your employee’s financial wellbeing here.