Why Offer Financial Wellness Programs?
Employers can stand out from other workplaces by offering strong financial education to employees. You can use Financial Wellness programs to support your employees and attract better candidates when trying to fill positions.
Financial Wellness Programs Can:
- Teach employees how to succeed financially, getting out of debt, improving their credit scores, saving for the things they want for their families
- Boost job satisfaction
- Improve retention
- Help employees successfully plan for retirement
Studies have shown that large numbers of Americans of all income levels have more debt than before the economic downturn. Many feel that they have no control over their financial decisions. Even many wealthy individuals feel that their money choices are made by chance, are in debt, and feel somewhat in a fog about how to make wise financial decisions.
Now imagine if you are an employee and your company is offering to help you overcome your financial concerns, teaching you how to get out of debt forever, helping to give you the tools you need to feel in control of your finances and for maybe the first time in your life you aren’t worried about money.
Wouldn’t you want to stay at and work harder for a company that helps you achieve your financial goals and feel more in control of your financial future?
This is the advantage you can gain by offering financial wellness programs to your employees.
Another goal of this program is to increase peoples understanding of the choices they have for investing for retirement so that employees will take full advantage of the opportunities their employers are offering – the end results being that employees are saving more for retirement.
Companies that offer financial wellness programs to their employees site that when their staff are not feeling so stressed about their finances, they take fewer sick days and their job performance increases – saving companies, a lot of money over time.
There are two ways that you can assist your employees through Financial Wellness Programs:
- Offer workshops to teach people how to:
- Create budgets that work
- Track to make sure they are sticking to the budget
- Start saving starting now
- Get and stay out of debt
- Prepare for unexpected expenses
- Plan for large purchases
- Save for retirement
- Understand their financial backgrounds and thinking so they can change their behavior and make better choices going forward.
- One to one coaching.
Many clients feel uncomfortable talking about their finances in front of others. Offering one to one coaching allows clients to learn the same skills being offered in the classes in private. This is a particularly good format for couples and families.
It’s Time to Help Your Employees Take Control of their Money
Certified Money and Business Coach
I think of myself more as a self-love coach than as a money coach. I help my clients see their value, so they come to believe they are worthy of more. Sure, I also teach them to make spending plans and how to get out of debt and save. More importantly, I help them to see that by taking care of their money they can better take care of themselves and the people they love.
Self-love? What does that have to do with managing money and financial success, you may ask?
Kind Words from My Clients
I had the pleasure of attending the financial class offered to staff members by my company this past spring offered by Sheryl Kosovski. I found Sheryl’s class to be an invaluable support in becoming more aware of my finances, planning for my future, and improving my financial health. I feel very grateful that my agency gave me the opportunity to take this course and highly recommend it to anyone looking to better understand and manage their finances.
Shira Glogower, LCSW, MS.