National employee wellness month

4 cost-effective ways Houston startups can champion employee health and wellness

Here are some ways to encourage health and wellness in the workplace without breaking the bank. Tom Merton/Getty Images

Apple and healthcare provider Aetna announced earlier this year the two industry giants are collaborating on a new app, Attain. The wellness app, available both for the iPhone and Apple Watch, rewards users who achieve certain health-focused goals such as getting more sleep, meditating, or even receiving their annual flu shot.

Today, companies are increasingly leveraging similar health and wellness goals and reward programs, if not this very initiative. In fact, the United States' workplace wellness industry is valued at nearly $8 billion.

This hefty price tag encompasses massive corporate health and wellness programs such as that of Google, which offers its employees benefits such as massage services, physical therapy, onsite health care, community bikes and even guitar lessons to promote mental health. However, for most companies, building an onsite health care facility or having your own personal masseuse at the ready to release the knots in your neck and back is a bit out of the price range, we'd say.

For those companies, including startups operating on a tight budget, most just want employees to experience less work-related stress and live happier, healthier lives. In honor of National Employee Wellness Month this June, here's how startups can implement budget-friendly health and wellness programs into their companies.

1. Utilize tech in wellness challenges

Fancy equipment is not necessary for an effective corporate health and wellness program. Instead, try offering employees Fitbits, a budget-friendly option, as part of their benefits package, which they can then use to track their daily activity. To leverage the Fitbits to create intraoffice challenges, offer employees incentives for health goals such as the most activity or the most seven-hour nights of sleep each month.

My company that I coach for, Orangetheory Fitness, also features its own brand of wearables, the OTbeat, which tracks workout activity such as calories burned, steps, distance and splat points (Orangetheory lingo for when you achieve excess post-exercise oxygen consumption). I see friends, coworkers and even complete strangers compare splat points — something employees could also use as a friendly form of competition.

2. Hand out workout passes that give employees an hour off work to exercise

This is the real-life version of Monopoly's "Get Out of Jail Free" card. One of the major reasons I see people fall out of touch with Orangetheory is because they don't have enough time to work out. An extra hour or two out of the workday could be all it takes to motivate your employees to get active.

In fact, most gyms and fitness classes offer corporate discounts to employers. I'm seeing more and more companies sign up for a corporate membership, especially since health and wellness in the workplace is becoming much more important.

3. Host group health and wellness events

Another initiative idea that's cut from the same competition cloth: Cooking contents. Host a lunch where staffers bring their favorite healthy recipe. Then, have employees vote on the most delicious option.

You can also implement health and wellness in other company events such as employee 5Ks and team-building exercises such as weekly team outings to a local fitness class. These would be ideal opportunities to dole out those workout or lunch passes.

4. Try "deskercising"

Like most successful companies, it takes a lot of sweat, blood, tears — and often countless hours at a desk — to see the fruits of your hard-earned labor. Today, a sedentary or inactive lifestyle, which most likely consists of sitting at a desk with little to no physical activity, has been linked to a number of chronic diseases, including obesity, heart disease, high blood pressure, as well as increased feelings of depression and anxiety.

While deskercising (i.e. the combination of sitting at your desk and exercising) doesn't quite measure up to a full-on workout, it has similar effects, including improved health, physical and mental. Squats, chair dips, shoulder raises and even frequent walks or breaks from the desk can have a significant impact on employees' health and work productivity.

Whether you implement one or all these programs, it's important to remember companies — whether they're a small startup of five or an established corporation of many — can implement health and wellness initiatives.

It's not the program or the money invested that makes corporate health and wellness initiatives effective. At the end of the day, the efficacy of any health program comes down to the company its willingness to prioritize the holistic health and wellness of its employees.

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Charlotte Morales is Orangetheory Fitness's San Felipe head coach.

August 23 is pHERsonal Finance Day — a day dedicated to education about financial practices for women. Getty Images

You've seen the statistics on Americans' financial health. The average American is not in great shape: $6,000 per person in credit card debt, $4,900 per person in student loan debt, and 51 percent of all workers who feel they aren't saving enough for retirement.

You also probably know about two other trends: women are living longer than men and divorcing at higher rates. What you may not know is that in 2019, most married women still say their husbands manage their finances. Even more surprisingly, millennial women have their husbands manage their financial futures at higher rates than their mothers. According to a 2017 UBS survey, 61 percent of millennial married women say their husbands manage their finances versus 54 percent of boomers. How do these trends come together?

Each year, there are two million American women who get divorced or widowed. These women grapple with a traumatic life event while trying to figure out the passwords to their investment accounts. In addition, married women are waking up to discover their retirement savings are short of their expectations. In a world of women's marches and the "Future is Female" t-shirts, women should be stepping up to shape their financial futures. For that reason, women should take a financial health day.

What's a financial health day? It's 24-hours where you take the day off work or dedicate a Sunday to writing down the balances of your investment accounts, renegotiating your auto insurance, and deciding if you should roll over that old 401K. A financial health day is not going to magically wipe away your student loans or solve your spending problem, but it can give you a plan for paying off debt or your mortgage three years early.

There is growing consensus on what being financially healthy means: you should maintain a four to six-month emergency fund, carry zero credit card debt, and contribute 10 to 20 percent of your monthly income to a retirement fund. Additional goals, like buying a house or paying for your kids' college, don't come until you have achieved a stable foundation.

Along with knowing what "financial health" means, there is also general agreement among financial experts on the best ways to achieve it:

  • Know your money situation. Physically write out your loans (credit cards, auto loans) with their interest rates, and all of your savings (including retirement). Seeing it all in one place will help you figure out your priorities.
  • Create money goals. Set multiple goals and prioritize them (you can also fund more than one goal at once). Is it saving for the down payment on a house or becoming debt free?
  • Track your spending. Where is your money going? There are budgeting apps from Mint or YNAB to help you keep track. Are there places where you can tweak your spending habits to fund your savings goal? Can you cancel a recurring expense you aren't using? Could you negotiate a better rate on your phone bill?
  • Automate to achieve your goals. Set up recurring payments to your debt and savings. Automated monthly transfers from your checking account to your savings goals make sure you aren't as tempted to spend that money. Schedule monthly and yearly calendar alerts to check your spending, rebalance your portfolio, etc. One advanced tip is to enroll in your 401K plan's "save more later" option. This will increase the percentage of your paycheck you put into your 401K annually.

These items seem simple. Yet, why are so few people doing them? It takes a LOT of work to get this money infrastructure set up. At the end of a long day of client meetings, chasing a toddler, or some combo of the two, it's difficult to muster the mental energy to address your finances – especially if you have the option of outsourcing this responsibility to a capable partner. That's where a day dedicated to your financial to-dos will help. You don't need to be solely in charge of your money, but you definitely need to understand the plan.

While we feel that everyone can benefit from a financial health day, the first pHERsonal Finance Day targeted to millennial women is scheduled for August 23. Check out our schedule if you want to get started. If taking a whole day off feels like a long-shot, take this quiz here to help you prioritize your financial to-dos. Whether it's a daily money minute or an appointment with a financial adviser (pick one who is a fiduciary), what are you doing to own your financial future?

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Eryn Schultz is the co-founder of pHERsonal Finance Day.