This month we have focused our discussion and topics around financial wellness and how to improve employee productivity. As we near the end of the month, we want to encourage employers to become “the employer of choice.” What does it mean to be an employer of choice?
To start with, you can offer a financial wellness program which can help you demonstrate your understanding that happy, healthy employees are vital for a highly productive company. Having a financial wellness program can benefit your employees in the form of improved employee morale and boost their productivity at the same time. It’s a win-win situation for all.
But keep in mind, helping your employees become financially healthy is a little more complex than it might seem at first glance. The ultimate goal is financial well-being. It’s not enough for employees to learn about what constitutes financial well-being; they must put it into action to achieve success.
Here are three tips you can use to help increase employee financial literacy:
· Choose resources relevant to your specific workforce. What works for the millennials may not work for baby boomers.
· Ask your employees. Priorities often differ between genders, age groups, married, single, families, lifestyle, homeowners, renters and so on. Send out an anonymous poll with targeted questions to better understand your employees and what resources they need to confront their financial challenges.
· Learn the boundaries. Employees want their employers to provide and facilitate the program but don’t want them to be overly involved in their personal lives. So set clear expectations and firm boundaries to help prevent overstepping from work life into personal space.
If you would like to learn more about financial wellness, attend classes or offer financial wellness classes, give us a call today at 269.324.0080.