According to recent studies, one of the things that hurt diverse populations the most is student loan debt. In fact, only three percent of all student loan balances are eliminated each year. This means that there are a whole lot of people out there with a significant financial burden hanging over their shoulders. At Mentoro, our goal is to help you and your employees create a foundation for financial success.
By offering employee wellness program benefits, you can help increase the diversity of your workforce. Here’s how:
Loan Repayment Programs Boost Diversity
There are a number of ways employers can help employees pay off their student loan debt. In fact, each year the number of companies offering this as an incentive has increased and shows no signs of slowing down. This type of program helps attract minority applicants that are struggling with student loan debt.
Some of the leading benefits of having a diverse workforce include:
- Decisions that lead to better results.
- A quicker decision-making process.
- Greater adaptability.
- Better business decisions.
- More innovation.
- Increased revenue.
Other Employee Wellness Programs that Offer Benefits
In addition to helping your staff pay off their student loan debts, you might also want to consider giving them options to refinance them as well. Doing so can help lessen their financial burden and save more money over the long term. Additionally, working with a workplace wellness program provider like Mentoro can help give them the tools they need to succeed.
At Mentoro, we work with your business to help improve financial wellness. This, in turn, can then lead to improved efficiency, less medical costs for employees, and a boost in participation in other benefit programs, like retirement plans and 401ks.
Contact Mentoro for more about financial wellness in the workplace!
As one of today’s leading financial wellness companies, Mentoro is committed to helping businesses and employees make sound financial decisions, as well as plan for the future. With our services, you can reduce employee absenteeism, minimize excessive loans, distributions, or other financial hardships, as well as ensuring you employ a balanced and diverse workforce.
Contact us online today to learn more about what we do or call 1 (844) 324-2411.
