Poor physical health, on the other hand, often leads to depression and anxiety, which causes even more health problems, including gastrointestinal issues, insomnia, obesityand a weakened immune system. There’s also a heightened risk of alcoholism, drug abuse and emotional spending.
According to a study by the Money and Mental Health Policy Institute (MMHPI), the vast majority of people (93%) admit to spending more money when they’re depressed. Chronic stress spending – or even one major, overly extravagant purchase – can cause significant financial difficulties, which in turn leads to more anxiety and depression and a decline in physical health.
So, how can employers drive employees to engage with the benefits that will support their overall health, financial wellness and wellbeing? Personalization holds the key.