Rewards Programs Drive Employee Engagement
Employee engagement is essential in determining the value of any Financial Wellness program. This Research Report helps retirement plan sponsors design a Financial Wellness Program Management Dashboard based on the practices of leading retirement plan advisors. The report provides a framework for monitoring progress and guides plan sponsors on the key indicators to monitor. One strategy for the most committed employers to drive engagement in Financial Wellness programs is to implement a rewards or points program that incents employees to use the program. Leading advisors surveyed in this report say that, on average, 19% of their clients with a Financial Wellness program use a rewards or points program to stimulate participant engagement. Programs such as these have been quite successful on the healthcare front, where employees earn points for having regular medical checkups or going to the gym. They make just as much business sense in helping employees achieve and maintain Financial Wellness.