A workplace is not always a conducive environment, to some it could be ideal but others may consider it intimidating. Due to this varied reaction, Xerox tries to improve employee financial wellness and overall well being by providing them with Xerox benefits.
The Company’s drive is a consideration borne out by the 2016 Xerox HR Services Financial Wellbeing & Voluntary Benefits Survey results that found over 66% of companies are integrating more voluntary benefits over that of the standard regular benefits. The primary consideration being the employee welfare and improvement of the overall wellbeing. Traditionally, only core benefits were available, voluntary supplements is a new upgrade.
Part of the upgrade or strategy include employees health assessments, workshops, education materials and retirement planning facelifts. And according to the survey, the main objective by adding voluntary benefits is to help address employee financial stress that could in the end lead to health issues and maybe higher benefit costs. While stress do not always come as work related, if not addressed can shift handily into the workplace.
However, some other reason may have triggered the Company’s change of heart not just stress related concerns. It could include reducing wholly employee absences; it is devised as a way to increase productivity, thereby reducing employees compensation claims; it could even be a sure fire move to not just retain but attract more talent into the workplace; or a method used to promote awareness and educating the workers about the need to be financially savvy.
Xerox HR Services helps secure their employees future through the improved company programs. New technology and responsive administrative services helps employees to better care for their health and wealth programs. While such related thrusts becomes beneficial to the workplace, it also is a professional boost to the employees career development. It is actually a multifaceted approach that benefits both parties.
Improving employee financial wellness through the Xerox benefits program is really important to the continued success of the company.