The Key to a Happy Retirement and Higher Workplace Productivity
If your employees are planning retirement now, or getting close to that special day, there are a lot of different factors to consider. How much money is saved? Is there a retirement plan? Are assets going to be paid for by the time retirement comes? All of these things have a significant impact on your employee’s everyday life after they retire and they need to be considered carefully, but above all the most significant impact on their post-career happiness is their health and healthcare needs. Happy employees leads to higher productivity, a happier workplace, and as a result, higher returns on your investments in them.
Post-career happiness and a happier workplace
Reducing stressors for your employees leads to lower healthcare costs, lower turnover, and higher productivity from your team. The cost of healthcare, whether out of pocket or paid to a healthcare provider, can be staggering to figure out in retirement and can require some research. But even while providing everything right health-wise, there’s always the chance your employees will still need some measure of professional health care after they stop working, and this is where budgeting financial needs beforehand becomes valuable. While being able to maintain a certain lifestyle in retirement is a considerable achievement, keeping your employee’s mid-career lifestyle at a measurable point of happiness can lead to long-term success in career and personal lives.
Higher returns on your investments
Even not considering money, health is the key to your employees happiness right now. Without health, most people wouldn’t be able to do many of the things that they enjoy, whether that be socializing, spending time with friends and family as much, going out to their favorite places, or working out and playing sports. When retirement age is getting close, health care concerns start to change. Companies should keep this in mind when considering employees changing and shifting concerns as they start thinking about their retirement. The less employees are thinking about external stressors, the more they will be focused on their work and personal lives.
There are several ways to lower the cost of retirement for you and your employees. Long-term financial success in retirement depends on a proactive approach now and ensuring that your employee’s assets, personally and professionally, are taken care of in the present so they can be preserved for their futures. This includes health, housing, and investments.
Keeping employees happy and healthy is not only key to your company’s success, but is key to retiring in an effective manner. Most retirement plans don’t require much effort to maintain aside from working with a certified retirement or financial professional group.