Leading American companies are prioritizing their employees’ financial wellness by teaming up with DailyPay to support employee savings and “America Saves Week.” The annual event that kicks off today is organized by the nonprofit America Saves, an initiative of the Consumer Federation of America. The event’s mission is to encourage and support Americans to save effectively, aimed at motivating individuals and families to take better control of their finances and achieve financial stability.
Read more here.
The post [DailyPay in PR Newswire] Top American Companies Demonstrate Commitment To Their Employees’ Financial Wellness By Partnering With DailyPay To Support “America Saves Week” appeared first on OurCrowd Blog.
Before the COVID-19 pandemic, stress was already costing Australian businesses upwards of $ 10 billion every year. Anxiety levels have worsened, with COVID-19 proving to be hugely disruptive to corporate wellness.
There is no one-size-fits-all solution to workplace stress and other related health problems. However, it could potentially be beneficial to implement a workplace wellness program with the goal of improving health and wellness, as well as productivity, at your company.
Here are five ideas for actions you can take to protect the health of your company’s employees:
Conduct a Health Risk Assessment or Employee Interest Survey
A Health Risk Assessment is designed to help you identify potential hazards that are present in your workplace. It can also help you to implement a plan to remove these hazards and reduce health risks to your employees.
Another possible approach: make a list of all the wellness initiatives your company is prepared to work on and circulate the list to your employees. Ask them to rate each idea and provide feedback on the ideas that would best motivate them to work toward improved health. For example, would they find it useful to have incentives to quit smoking or utilize a free gym membership? Have them share their ideas for initiatives, too.
Ensure employees have paid time off
Your employees are more likely to take care of their own healthcare needs if they have sufficient time to do so. Ensure that they are given time off for doctor’s appointments and self-care.
Provide access to counselling
In the wake of COVID-19, Australians’ mental health has taken a downturn. To protect your business, it would be beneficial to ensure that your employees have access to mental healthcare. If your company provides a health insurance policy with extra benefits, ensure that psychology is one of the health services included in the plan.
An alternative would be to hire a therapist to provide corporate counselling services. There are quite a few practitioners that provide this type of service in Australia.
Be sure to vet your provider carefully to avoid the dodgy ones; at a minimum, if you’re using a counsellor, you’ll want to ensure that he or she holds a vet qualification or a bachelor’s degree in counselling or psychology. It’s even better if they’ve obtained a Master of Counselling degree and have registered with the Australian Register of Counsellors and Psychotherapists. If you’re using a psychologist, you will want to ensure that he or she has completed a postgraduate degree in psychology and have registered with the Psychology Board of Australia.
Whichever option you choose, ensure that your employees know about it, and encourage them to take advantage of these services when needed. Reassure them that these services are confidential and there is no taboo associated with using the services.
Sponsor wellness workshops
Many allied health providers are willing to conduct workplace workshops for the purpose of educating employees on how to be healthier. There are, for example, psychologists who will conduct mindfulness workshops, employee assistance programs and EQ workshops. There are physiotherapists who can provide workplace training on proper posture and ergonomics.
Workshops like these can ensure that your employees have the knowledge they need to keep themselves healthy and productive at work. You could consider hosting one or more of these events annually.
Stock the kitchen with healthy food and beverage options
Diet contributes significantly to one’s health, wellness and mental clarity. You can’t control what your employees eat, but you can give them healthy options in hopes they will eat those things rather than consuming unhealthy junk food. With that in mind, consider stocking the kitchen of your workspace with healthy snacks, such as fruits, nuts and fresh vegetables.
Perhaps your startup doesn’t have the budget to provide food for all of your employees. In that case, you can at least ensure that any vending machines you have offer healthy options rather than junk food. Daily habits contribute significantly to a person’s health and wellness levels; imagine the differences in outcome if an employee buys a piece of fruit daily from the lunchroom vending machine, as opposed to a daily candy bar.
These are five things you can do as a business owner to improve health and wellness at your startup. There are many other things you could be doing to encourage wellness amongst your employees, but these five things are a great place to start. Whether you choose to implement an extensive health and wellness program or just start with a couple of things on this list, in any case, it is worth encouraging a culture of health and wellness in your workplace.
The post 5 Ideas for Implementing a Workplace Wellness Program at Your Company appeared first on StartupNation.
Berlin-based actio, an app that connects you to real coaches and a global community for fitness, mindfulness, and self-optimisation, has raised €10M in its Seed round of funding from Heal Capital, alongside HV Capital & Cavalry Ventures.
Nikita Fahrenholz and Daniel Stahlkopf are the founders of actio. Delivery Hero and foodspring are two of their successful projects. Their goal is to create a platform, democratise professional coaching and make it affordable for everyone.
How is actio different from its competitors?
Founded in 2019, actio is a platform and live community for people who want to optimise themselves and their lives in the long run. The platform offers more than 100 different live courses on a daily basis. Some of these courses include, meditation (e.g. Monday Anxiety Relief, Care & Love), Pilates to yoga (e.g. Bed-Time, Flex & Flow), Happiness Journaling or fitness offers (e.g. HIIT, Ballet/Barre), the courses are on average 15 minutes long.
According to the company, the actio app is based on a specially developed VoIP call software that connects users with real coaches worldwide and brings them together in group calls.
The company believes, in order to create a new routine, the brain needs a powerful trigger. And this is where actio claims to be making a difference. It replaces app notifications with calls to motivate its users. So, instead of a push notification, participants receive a call before the course begins.
Eckhardt Weber, Partner, and MD of Heal Capital says, “actio hits exactly the zeitgeist with its product. We all start with good intentions and usually fail after just a few weeks. actio, with its motivating approach, manages to establish healthy and positive routines in everyday life that will strengthen well-being and health in the long term.“
About Heal Capital
The VC fund was founded in 2019 and in the field of health-tech, it claims to be one of the leading venture capital funds in Europe. “We reimagine healthcare by leveraging cutting-edge technology to make a difference in people‘s lives.”
Heal Capital is dedicated to investing in the integrated health-tech sector starting from Series Seed onwards and has a total investment volume of €100M. It is backed by leading private health insurances and deeply rooted across the German healthcare ecosystem.
Back in December 2020, the startup had reportedly raised about €8.5M from HV Capital and Cavalry Ventures. Angel investors and co-investors also participated in that round, including Stefan Jeschonnek and Jan Deepen (Sum-Up co-founders), Fabian Siegel (CEO Marley Spoon), Doreen Huber, Atomico Angel Fund, Udo Schloemer (Founder Factory), Karl-Moritz Herrmann (former Google Deepmind Berlin) as well as music producer Tassilo Ippenberger and Thomas Benedix (Second State and Pan-Pot).
One commonly known fact – so common as to be enshrined in tax law – is that new businesses typically don’t make money. Rather, for the first few years, most subsist on loans and investor funds and whatever the owners have saved up. Still, even before your startup becomes profitable, it’s important to begin cultivating meaningful financial wellness.
How can you put your business in the best possible financial position when getting it off the ground? You can take a number of different steps, but they all come together to create long-term solvency.
Be Budget Savvy
It can feel untenable to try to stick to a rigid budget when you’re not bringing in enough money to pay the bills, but it’s important to get into the habit of creating and following a budget now. A budget will show you one-time and occasional expenses, what vendors or service providers take up the bulk of your budget, and where debt accumulates. As your income increases, you can steadily readjust your budget until it’s balanced.
Develop Additional Income Streams
One of the best ways to increase your income in the long-term is by developing passive income streams. Any passive income source should be something of a ‘one-and-done’ task, such as creating an eBook or downloadable course. Passive income streams support your existing business, but they don’t demand the time and energy that the main operation does.
Monitor The Ins And Outs
If you’re not making sure your invoices are paid and not just sent out, you’re going to have a problem. Many businesses and freelancers accumulate bad debts or debts unlikely to be paid from a consistent set of clients. Unfortunately, the pattern underlying bad debt often isn’t obvious unless you’re carefully tracking your invoices.
Tracking bad debt isn’t just bad news because it points out problem clients but because small businesses and startups tend to have more of it than major corporations. Big businesses can hire people to chase down those debts. Over time, this accumulated debt can actually drive a small business to bankruptcy, so it needs to be tracked.
Know Your Options
Speaking of bankruptcy, strong small businesses aren’t just those that avoid bankruptcy; they’re also the startups that understand their options. In other words, they know debt doesn’t need to be the end of the road. As bankruptcy lawyer Rowdy Williams explains, “Every business owner needs to understand that [Chapter 11] bankruptcy doesn’t mean closing your doors forever. It can be a way to start over, to address your debts honorably, but with some added breathing room.”
Chapter 11 bankruptcy allows businesses to take stock of their debts and make arrangements with their creditors to eventually pay off their debts. Depending on your business’s situation, this can be a better option than taking out a loan. And it’s definitely more tenable than hoping to attract enough new clients to cover your costs.
The Art Of Financial Wellness
Many will argue that financial wellness is ultimately a matter of establishing strong cash flows and minimizing cash loss. But until you get down to the details, you can’t really understand what’s at stake. By looking beyond the basic budget and at the mechanics and underlying causes of business debt, though, you can give your startup a critical edge in a competitive market.