In an exciting development that promises to redefine the landscape of workplace health and financial wellbeing services, we are delighted to announce a new joint venture between Vitality Works and First Capital Financial Services that will trade as Vitality Works NZ Limited.
The synergy between Vitality Works, a leading innovator in workplace wellbeing solutions, and First Capital, a distinguished financial services firm, is set to usher in a transformative era for employees and employers alike.
Mental health and financial well-being are two important aspects of our lives that are often viewed in isolation from each other. However, the truth is that these two elements are deeply intertwined and play a crucial role in determining our overall health and happiness1.
Our experience and data show a clear impact on workplace wellbeing when employees are struggling with financial stress which is particularly relevant in the current economic environment. Research shows that 69% of New Zealanders are concerned about money, with that figure rising to 74% of women and 82% of those aged 18-34. This concern manifests in a variety of ways, with people feeling stressed (49%), not accessing health services when they might have otherwise (31%) and making unhealthy eating choices (28%). Ten per cent of those aged 18-34 take regular days off work due to money worries2.
“We are delighted to bring together the financial expertise of First Capital with our team of wellbeing professionals,” says Cathy McDonald, Director for Vitality Works NZ Limited. “Combining our tailored financial and wellbeing employee programmes means we can offer a full spectrum of truly unique and wholistic wellbeing solutions to business leaders to help nurture happier, healthier employees.
Our combined workplace health and financial wellbeing services offers businesses:
- Comprehensive Workplace Wellbeing Solutions: By combining Vitality Works’ expertise in workplace wellbeing programmes with First Capital’s financial acumen, we will provide a wholistic approach to employee well-being.
- Customized Employee Benefits: Our joint venture will tailor employee benefit packages to meet the unique needs of each organisation. Whether it is fitness programmes, mental health support, employee investment or insurance advice, our solutions will be customised for maximum benefit.
- Data-Driven Insights: The partnership will leverage data analytics to track the benefits of Vitality Works’ programmes to guide leaders in making informed decisions to maximise their investment and outcomes through our employee wellbeing programmes.
- Cutting-Edge Technology: Both companies are committed to staying at the forefront of technology. We will harness the power of AI, data analytics, and digital platforms to provide businesses with efficient, accessible, and user-friendly solutions.
- Transformative Wellbeing Services: We offer wholistic range of wellbeing programmes and resources to help employees lead healthier lives through our Thrive Mental Health and SafetyWorks consultancy practice. Additionally, we can now offer financial wellbeing programmes through our partners, First Capital Financial Services.
First Capital’s Managing Director, Hugh Percy, said on signing the joint venture agreement, “This partnership is a testament to our commitment to helping individuals achieve financial success. Together with Vitality Works, we are poised to offer unparalleled solutions that will transform workplaces across the nation.”
Kevin Jackson, the CEO of the Sanitarium Health & Wellbeing Group, expressed enthusiasm about the venture, stating, “The synergy between our two companies is an exciting opportunity to create a brighter future for employers and employees. We look forward to leading the charge in promoting holistic wellbeing and financial stability in the workplace.”
This partnership commences 1st November 2023 and will trade as Vitality Works NZ Limited. The company is part of the Sanitarium Health & Wellbeing Group, and is a leading innovator of workplace health, safety and wellbeing solutions and brings with it 125 years of health and wellbeing expertise.
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 Retirement Commission. Financial stress impacts mental wellbeing | Retirement Commission Te Ara Ahunga Ora