Why should employers care about employee financial wellness, and how can the SECURE 2.0 Act of 2022 legislation help increase the financial stability of America’s workforce?
Recently enacted Federal legislation seeks to increase the financial stability of the American workforce, directly addressing the governing dynamics that prevent broader adoption of retirement plans and emergency savings accounts through an array of new benefits for both employers and their employees.
It isn’t all about the packages, boxes or bags
My brother Dan and stepfather have bonded over the years over a shared love of fishing. Each summer, my brother returns home to the Wisconsin lakes from California for a week of fishing, with a goal of hooking that prized musky. While our family has caught some nice size fish, including muskies, there’s always that one ‘that got away’ swimming in the depths, albeit taunting them.
Our large, blended family gets together each holiday season. Normally,...
As an HR manager, business owner, or financial decision-maker, you probably avoid prying into employees’ personal lives. However, financial stress can consume your employees’ energy, making them less productive at work. That can lead to health problems, sick days, and other problems that affect your business.
How can you turn this losing proposition into a win-win? Financial coaching can help bring peace of mind back to your employees by giving them tools to help them with major financial life...
Financial Literacy Month is observed each April. As we turn our attention to financial literacy, it is important to consider how critical relevant financial education is to employees during a time of rising inflation.
Many Americans weren’t privy to an education grounded in the basics: Budgeting and smart spending
Establishing emergency savings
Responsible use of credit
Planning for and investing in the futureThese key pillars of financial health are all critical elements to helping an individual...
Emergencies show up at the most inopportune time, whether it’s an unexpected trip to the ER, a surprise auto repair bill, or a busted pipe spewing water in your basement. And when life shows up — as it always does — where will your employees turn for financial resources to help you manage the situation? If they’re like most Americans, they likely have insufficient savings —nearly 70% of Americans have less than $1,000 stashed away — or no savings at all.
Without adequate savings in a bank...
Today, employees are switching jobs in droves. So much so, this mass exodus has been classified as the Great Resignation. According to the U.S. Department of Labor, a staggering 11.5 million workers left their jobs during April, May, and June of 2021. And by most measures, this is just the beginning.
Now more than ever, it’s imperative for employers to use every tool within their arsenal to retain and engage top talent. Fortunately, there may be an often-overlooked, golden arrow within your...
Financial wellness involves and achieves independence. No matter how much one works and earns as income, being tied down by debt and commitments provides no real freedom. Financial wellness works the same way as wellness for the body; when everything is working correctly, and there are no concerns, a person is healthy. When vulnerabilities, leverage, debt, and financial stress cause losses and struggles, the body becomes sick and can’t perform as well. Most people in the U.S. today are not...
59% of employees are more stressed about money than any other life stressor combined, as reported by the PwC 2019 Employee Wellness Survey. The reasons for this financial stress range from not having enough money in savings and being unable to meet monthly expenses, keep up with debt, or pay for college. One in four employees ranks a financial wellness benefit, including access to unbiased counselors, as the most desired employer benefit.
Your employees are stressed about the cost of living, student...
Everybody deals with financial challenges, though each individual financial journey is unique and the challenges may look different. For employed individuals, financial stress can affect job performance as well. As personal financial problems become worse, it becomes nearly impossible to ‘leave it at home.’ Employees are distracted, productivity goes down, stress goes up and, in some cases, discipline issues and absenteeism can occur.
FinFit helps boost employee productivity and increase...
The New American Workspace:Millenialsat the Gate
By David KilbyMillennials are the new core workforce. Their concept
of “work” is different than the traditional. They bring
bold, new approaches of what work should be, how and
where it should be performed, and what the rewards
for work should be.
Summary:Millennials are the new core workforce. Their concept of “work” is different than the traditional. They bring bold, new approaches of what work should be, how and where it should be performed,...
FinFit Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Loans subject to credit approval. Residents of Colorado, Connecticut, Iowa, Vermont, West Virginia, Nevada and Massachusetts are not eligible for loans. Nothing in this advertisement constitutes an offer or solicitation for loan products to residents of those states. Actual time it takes for loan approval dependent upon loan verification set up with your employer.
Funding time dependent upon funding method selected. Expedited funding may incur additional fees.
Student loan services are provided by unaffiliated third parties. FinFit loans issued by Celtic Bank do not include student loans.
Wage Now is fully funded and managed by an affiliate of FinFit. If any fees apply, those fees will be disclosed prior to entering into any agreements. Residents of California, New York, North Dakota, South Dakota, Tennessee and Vermont are not eligible for WageNow. This does not constitute an offer or solicitation for WageNow to residents of those states.
FinFit’s Financial Wellness Program, which includes educational content, a financial assessment and a financial dashboard, are free to registered members. Services offered may incur fees and/or interest. All fees will be disclosed prior to entering into any agreements. Products listed are a representation of FinFit offerings. Actual availability may vary. The products available to you and your organization will appear on your FinFit membership dashboard. Actual loan amounts and rates offered vary based on lender, credit worthiness and other factors.
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