Read: An appetite for improving wellness ROI

Consider biometric screenings, typically used in corporate wellness programs. They measure physical characteristics that can be taken at work as part of a workplace health assessment.

Most companies view such screenings as a valuable tool to gain a pulse on the health of their employees and dependents, but demand grows for more personalized and participation-based programs that take these measurements and specifically address the needs of employees and their families. Managed correctly, wellness programs can have a positive impact on employee engagement while also helping contain costs.

Besides an employee’s waistline and blood pressure, employers are growing increasingly interested in how employees manage their personal finances.

That’s because the inability to pay the bills ranks among the greatest causes of stress to employees and, subsequently, threatens workplace performance. According to a new study by Willis Towers Watson, a risk management, insurance brokerage, and financial advisory company, employees who cite financial concerns as a distractor lost 12.4 days in 2015 from “presenteeism” – working when not fully functioning because of illness or severe stress – and just 3.5 days due to absence.

What’s an employer to do? One remedy involves ensuring that employees have the necessary tools and information to manage their finances effectively and alleviate stress. Among the financially focused services employees seek are the following five:

1. Student Loan Repayment Programs

Americans owe more than $1.3 trillion in outstanding student loans.

Today’s largest generation of millennials – those 18 to 36 – specifically are saddled with $25,000 of student debt on average.

Yet few companies offer repayment programs to lessen the burden on employees. Employer loan repayment assistance programs (LRAPs) provide employees with the funds to put directly toward their student loan payments. This frees up earnings so employees can pay other everyday costs of living.

2. Health Care Cost Planning

As health care costs continue to climb, so does the challenge of budgeting for the future.

Employees who elect the correct health care benefits protect their financial wellbeing by avoiding large out-of-pocket costs. However, employees often don’t fully understand their health care-related options and become frustrated and unsure about their selection of benefits.

Employers who engage employees from the start and provide continued communications can direct their employees to the most appropriate benefits plan based on their individual needs.

3. Health Insurance Product Review

Not only is reviewing and planning for health care costs key to an employee’s financial wellness, but having an understanding of the different health insurance products available (such as long-term disability, critical illness or accident insurance) can also protect an employee’s finances.

In the case of a major health event, it is important for employees to understand that there are health insurance products designed to fill gaps in their coverage and ultimately keep them from going into financial ruin.

4. Retirement Preparation

Employees are largely disengaged when it comes to getting smart about investments.

They often underestimate what and when and how they need to save. A recent survey from GoBankingRates, a personal finance and consumer banking website, revealed how ill-prepared many Americans are for retirement.

Fifty-six percent of respondents said they have less than $10,000 saved, and more than one-third reported having no retirement savings at all. Whatever the reason for this, employers still should transition employees into the appropriate financial planning program and provide the information to help them make wise investments.

5. Day-to-Day Financial Advice

Poor financial literacy and ineffective day-to-day money management habits trigger financial stress for employees.

Improved financial security, however, gives employees peace of mind and a foundation for improving their financial health. Employers can address this by providing access to learning centers and facilitating self-imposed financial discipline that can help employees fix and grow credit scores, among other things.

Through readily available online-based financial planning tools and direct deposit services, employers can help their employees alleviate financial stress and improve their health – and the employers’ financial health as well.