Employee health and wellbeing has grown to encompass a number of topics in recent years. One of the most interesting areas of development has been in supporting employee’s financial health.
While a simple solution for employers would be paying their staff more, there have also been a number of applications cropping up to ensure that staff can manage their money better without employers needing to raise wages to insurmountable costs.
Startup ZavFit originally positioned itself as a platform that could help people with their wellness and finances in conjunction. It does this by suggesting healthy activities and ways to spend funds. The application also tracks the mood of the user when they spend.
The app is built by behavioral scientists, psychologists, artificial intelligence experts, and neuroscientists. Their expertise allows the application to make informed readings from a health quiz and provides the opportunity to share financial information.
But now a pivot to employee health will see ZavFit launch a Beta application in the coming months to thousands of users. One of the first companies to witness this change will be the insurance company Lloyd and Whyte. The application will become part of the company’s broader Wellbeing Matters offering.
Implementing ZavFit for employees
Anna Freeman, founder & CEO of ZavFit, discussed the importance of the company’s new health-focused offering: “ZavFit is a MoneyFitness Movement. It’s something we’ve been working tirelessly on after recognizing the devastating impact that money stress has on our health.
“We’re delighted to be working alongside leading businesses on the Beta launch to help hundreds of employees think differently about the way they use their money and the impact it has on their overall mental wellbeing and health. We are focused on improving health outcomes and genuinely want to bring an end to the chronic daily money stress that plagues millions of people globally.”
In terms of adding this application into existing wellbeing offerings, Robert Lynch, director of Wellbeing Matters at Lloyd & Whyte, said: “Employee wellbeing and good mental health has always been something we’ve taken seriously and has become increasingly pertinent.
“Working with ZavFit is giving our people a new and innovative way to think about their relationship with money, reduce the stress it can cause, and ultimately use it to make them healthier.
“Being part of the Beta is something many people don’t get the opportunity to be part of so we’re excited to see the results!”
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