American workers’ economic security is top-of-mind across the country, and for good reason: The long-time and persistent issue of Americans’ lack of preparedness for financial shocks was amplified by the COVID-19 pandemic. Even as working people nationwide are recovering, they are left feeling as financially uncertain as ever, often lacking available resources to cover even a month of expenses, and potentially carrying personal debts and other financial burdens.
This is bad news for employers because financial stress leads to a whole host of issues for workers: lower productivity, higher absenteeism as well as “presenteeism” (workers on the job but disengaged), higher rates of turnover and potential employee health issues. In some industries, workers struggling with outside-the-job concerns may even pose safety issues for themselves as well as their coworkers. A worker who is worried about how to repay personal or student loans, how to cover an unexpected medical expense or how to pay their monthly bills is a worker who can’t give full attention to the job.
Well-being — a broader and more complete focus area than what is considered “wellness” — allows workers to address some of their concerns about the forces affecting the world around them and provides some measure of control. Providing workers with information, support and practical solutions is one way that organizations can help them feel more financially secure as well as give their best when on the job.
We work with you to provide your people resources to:
Understanding the basics of how to manage personal financial decisions goes a long way toward making people feel secure in their situation.
Give your people the tools they need to help get out of debt and free themselves from a huge mental and financial burden.
Helping your people build a safety net of savings will prevent life’s unexpected expenses from sending them into a tailspin.
Even though retirement may seem to be a long way off for some workers, financial well-being must address today’s needs as well as plan for long-term objectives.
By addressing these financial wellness topics today, we can help you remove some of the barriers that may be stopping your people from planning for the future — and help them stay engaged at their jobs.
So how do you ensure you’re offering the right resources to your people — and that you’re helping them use those resources effectively? Our multidisciplinary team of benefits, compensation and communications professionals will work to understand your existing offerings and how that compares with your people’s specific financial well-being needs. This work includes identifying what solutions your organization can and should deliver and how you can drive engagement with your offerings.
To help you identify the right solution for your organization, we follow a data-driven process that focuses on your people. As an unbiased, independent consultant, we’ll best meet your needs and the needs of your people as we develop customized strategies to:
After going over your financial well-being scorecard, we follow with recommendations regarding what you should do next to achieve your goals and help your people. Let us show you the possibilities.Contact Us
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