In brief.
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.

The Secure 2.0 Act of 2022 includes key areas of legislation such as automatic enrollment, required minimum distributions (RMDs), catch-up contributions, student loan debt, saver’s match, and emergency savings for both full-time and part-time employees.

Still, the new laws aren’t a panacea.
Today, more than six out of ten employees across America are living paycheck to paycheck. This is an increase of over nine million Americans from the end of 2022. And the issue reaches across classes and touches both hourly and salaried workers. In December 2022, 50.8% of those earning over $100,000 annually reported they, too, are living paycheck to paycheck.

This harsh reality is the powerful backdrop for the Secure 2.0 Act legislation, but factors like ongoing inflation have put continued pressure on the American consumer, pressure which disproportionately effects Black, Hispanic, and middle-class employees.

For many of these workers, regular contribution to an established 401(k) isn’t feasible, and the need for emergency savings to address unavoidable and unexpected life-expenses is ever-present. And, as you may be aware, it has been widely researched that a sufficiently funded emergency savings account is the foundation of financial stability, delivering greater security for housing, transportation, and food, leading to wide-reaching positive outcomes for employees and employers alike, affecting everything from smoking cessation to employee engagement and retention rates.

But the Secure 2.0 Act only provides short-term emergency liquidity options for employees with retirement accounts, leaving nearly 60% of the American workforce out in the cold and forcing employers to solve this challenge through additional initiatives.

So, what’s next?
Given the sensitive nature of discussions involving personal finance, employers must first act with intention, taking the time to evaluate the needs in their organization and plan appropriately. In doing so, managers greatly increase the likelihood that the steps they take in support of their employees’ long-term financial well-being are successful. Here are some recommendations to create an actionable implementation plan for future programming:

• Take the “financial temperature” of your organization.
• Understand that leaders’ perspectives may be quite different than those of employees.
• Shift from a reactive to a proactive attitude when it comes to employee financial wellness.
• Commit to creating – and maintaining – a healthy work environment for everyone.

For more details on how to make it happen for your employees, be sure to check out our full white paper on this topic here.

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, our parents focus their gifting on their 17 grandchildren and we adult kids receive a one size fits all gift like socks, dishtowels with goofy sayings and some sort of food gift (yes, cheese and sausage. It is a Wisconsin thing). However, last year, Dan received something unique from our stepdad. It was an old musky lure which had belonged to our stepdad’s father, along with a handwritten note detailing the significance of that lure. The look on my brother’s face will forever hold a place in my heart of holiday memories. He treasures that gift, that gesture of love. In fact, he was so afraid of losing it in the lake this past summer, he bought a similar model to practice with.

The point is, we are living during a time of inflation. Our holidays may require some creativity with how we adjust the flow of our cash to create some extra spending money. It may mean a shorter gift list or fewer gifts purchased. Perhaps, fewer new decorations or a simpler meal.

Instead of looking at what you may need to spend on decorations, evaluate what you can do with what you already have. Maybe mix it up a bit and place the snowman collection in a different spot this year. Cherish the time spent with loved ones, perhaps making new decorations.  And as you unpack the tried and true, also unpack the memories of their holidays past.

And as you think about this year’s gift list, consider what you’d most like to share with each special person on your list. You may find it isn’t something brand new that might cause you to buy now-pay later. Rather, it could be the gift of your time. Or your talent as a baker, or a woodworker, a writer or musician or you get the point. You know where your talents lie. Or it could be something of great meaning to you, like that musky lure which, for my brother, simply represented the ultimate gift of love and friendship.

Employers – it’s likely the financial stress of the holiday season will only ratchet up the stress your employees are already feeling from inflation. Give your employees the gift of a financial wellness program. Give them FinFit. Request a demo to learn more.

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 changes. As a result, you will develop a stronger, healthier work environment for everyone and boost employee morale.

Recognizing the impact of financial stress and providing solutions to help with it is imperative for today’s employers. FinFit has solutions that can help, including expert advice on:

•   New baby/child
•   Getting married/divorced
•   Buying a home
•   Understanding credit reports
•   Budgeting guidance
•   Unemployment
•   Affording college and student debt

Explore these important programs and make them available to your employees! Recognizing the impact of financial stress and providing solutions to help with it is imperative for today’s employers.

What Are the Causes of Financial Stress for Today’s Employees?

Everyone has felt the effect of rising interest rates and costs. Necessities such as food, gas, and utilities now take up a bigger chunk of employees’ paychecks. This can translate to stress and strain that bleeds over into the workplace. Here are some of the biggest stressors:

•   Credit Card Debt
•   Lack of Emergency Funds
•   Rising Inflation
•   Lack of a Monthly Budget

Fortunately, FinFit has educational programs to help participants make the right decisions for their financial future. Although managers and decision-makers may balk at spending money on these programs, you have to weigh it against the savings time and lost productivity.

Increasing Credit Card Debt

Americans feel the weight of rising personal debt, which now tops $841 billion. Many families are carrying approximately $7,000 in debt. This can quickly eat up available funds if left unaddressed. Rising utility, grocery, and gas bills are forcing more families to use credit cards for day-to-day living. Consequently, total debt is on the rise.

Fortunately, there are many strategies that can help employees understand the relationship between debt and their credit score. By implementing some of the programs mentioned below and partnering with FinFit, you can take some of the burden off the shoulders of your employees by giving them the right tools for this stage of their lives.

Lack of Emergency Funds

Keeping money back for emergencies can reduce financial stress. Typically, the strategy works best when the funds are kept in a separate savings or checking account. Emergency funds help families stay afloat when appliances or automobiles break down or someone cannot work due to illness or injury.

With three to six months’ worth of expenses in the bank, employees are likely to feel much more confident in their financial health. By contrast, fewer than half of Americans can cover unplanned expenses exceeding $1,000. Help your employees understand the importance of having a cushion to fall back on in case of unexpected financial responsibilities.

Rising Inflation

The U.S. Bureau of Labor Statistics reports that the consumer price index (CPI), which measures consumer spending on goods and services, rose 9% in 2021. That includes the impact of a 35% hike in energy costs and a 48% increase in gasoline prices. Some families may face the difficult choice of paying for transportation versus paying for food.

Lack of food security and an affordable way of getting to work puts tremendous pressure on employees. Diminishing discretionary funds may mean that parents cannot provide toys, electronics, and other items to their children. This has certainly added to the emotional and mental health struggles many people experienced during the pandemic and continue to experience today.

Lack of Monthly Budget

Having a monthly budget can help your employees adjust to the reality of higher prices. You can use this and other FinFit programs to boost morale and employee retention.

What Are the Symptoms of Financial Stress?

Approximately two in five U.S. consumers had difficulty covering expenses in the past year. For those interested in gauging the impact of this stress, here are the symptoms:

• Headaches
• Depression
• Weakened immune system
• Heartburn
• Infertility
• High blood pressure
• Extreme fatigue
• Panic attacks
• Upset stomach
• Insomnia

If you or your employees experience difficulty sleeping, feelings of anger, muscle pain, and relationship difficulties, it may indicate a focus on financial stress.

What Are the Effects of Financial Stress on the Workplace?

Financial stress has a direct impact on the workplace since employees often cannot draw a line between their home and work lives. These effects may include becoming dangerously distracted, having outbursts, making errors, and neglecting responsibilities.

By providing your employees with the tools they need to stay calm and overcome financial hurdles, you could help them stay focused on their work and remain loyal to the company.

Well-Being of Employees Has a Direct Effect on the Workplace

By investing in the well-being of your employees, you can develop a workforce with enhanced resilience, reduced absenteeism, and higher productivity. It can also assist with retention efforts since employees will appreciate a company that looks after their health and welfare.

Stressed Employees Facing Financial Anxiety Are Less Productive

Stress in the workplace creates significant challenges for managers and business owners. Stressed employees may take more days off to deal with financial responsibilities, such as unpaid bills. If you notice a recent drop in productivity, it may be time to have a heart-to-heart with an individual employee. By finding out what’s going on, you can match them to the appropriate FinFit program so they can learn money management techniques and immediately enact them in their daily lives. Alternatively, you can include referrals to local resources for assistance with utility bills and other soaring expenses.

Physical Symptoms of Money Stress Can Lead to Missed Days of Work

Since the COVID-19 outbreak, studies have shown that nearly half of employees now struggle with mental health issues. Financial instability just exacerbates weakened mental health. Financial stress, poor mental health, and physical illness cause employees’ productivity to decline, which significantly impacts your business.

How Can Employers Help Employees Manage Their Financial Health and the Stressors that Impact Their Performance?

Conscientious employers can employ a number of techniques to take financial stress off of their employees. Consider implementing one of the following strategies to help employees sail through rough patches in their financial lives:

•   Early wage access
•   Pay student loans
•   Help with the cost of aging parent care
•   Provide financial coaching

If you need help setting up any of these programs, turn to your FinFit financial consultant for suggestions.

Offer Credit Counseling to Your Employees

Credit counseling gives employees more control over their finances. They can set up manageable payments for existing debt and learn strategies for avoiding new debt. Most credit counseling services also include training on how to read a credit report and addressing any entries that are not correct.

In some cases, credit counseling can help people avoid foreclosures and bankruptcy. These programs can give your employees peace of mind and serve as a valuable tool to boost morale, retention, and performance.

Practical Steps to Calm Stress

There are a number of steps that employees can take to keep their stress at a minimum. Deep breathing, visualization, and grounding are just a few ways that employees can remain calm when facing financial pressures.

Here are a few exercises to recommend, especially to those who need help dealing with strains and responsibilities:

•   Box breathing involves mentally visualizing a square and breathing into it. Participants hold their breath for four counts in and four counts out. Employees can physically move along an imaginary square by walking or standing still and using visualization techniques. Continuing this deep breathing for a minute or longer can help reduce stress before tackling an important assignment.
•   Rainbow Walk: This is a grounding method. For those who suffer panic attacks, this grounding method can bring peace and relief. As anxiety builds, take a minute to walk around the building. Look for objects in the colors of a rainbow:

o   Red

o   Orange

o   Yellow

o   Green

o   Blue

o   Indigo

o   Violet

By focusing on this task, taking pictures of objects, and mentally categorizing them, you can regain your calm and resume your work tasks.

•   Wellness activities at work: Many employers encourage wellness activities in the workplace. You can inspire leaders and teams to take a few minutes each afternoon to breathe, perform light stretches, and otherwise take out a moment to recognize the importance of health and wellness.

Other suggestions include to ease the strain of personal finances include:

o   Lunchtime yoga class for mental and physical health

o   Healthy snacks in the breakroom

o   Create a quiet area for rest, relaxation, or meditation

o   Pay for or supplement funds for a gym membership

How Can FinFit Help with Financial Worries?

FinFit offers numerous programs that help your team members deal effectively with financial worry to avoid mental and physical health issues. Feel free to meet with one of our financial consultants to learn more about the programs below:

• Spending and Savings Accounts: Offer your employees spending and savings accounts that help them improve money management. These bank accounts can provide a cushion and help employees avoid turning to a credit card company.
• Early Wage Access: Providing access to wages ahead of time shows your faith in your employees and gives them opportunities to avoid financial problems.
• Credit Solutions & Loans: FinFit can help you or your employees regain control of your finances by setting a loan program to offer employees a low-interest way to meet sudden expenses,
• Student Loan Repayment: Help your employees find consolidation loans or refinancing programs for their financial situation.
• Financial Assessment: Give employees a personal assessment to help them understand where they are and better plan for financial goals.
• Financial Coaching: Employees who are recently divorced, worried about job loss, growing their family, or facing their first mortgage payments will all benefit from professional financial coaching for financial issues. FinFit offers financial advisors to coach your staff.
• Educational Resources: FinFit has numerous resources for employees facing a new source of stress, such as:
  • Improving Credit Scores
  • Buying a Home
  • Investing
  • Paying for College
  • Caring for a Family Member
  • Preparing for Retirement
• Life Insurance: Give employees access to affordable life insurance coverage.

Make Your Employees Happy and Reduce Financial Challenges by Offering FinFit

Request a demo of how FinFit can assist you and your employees with overcoming the stress of unexpected expenses. This is a win-win for your entire team and for your company as a whole. You’ll also have a healthier staff since financial stress can lead to heart disease and other healthcare concerns.

Let’s discuss how FinFit can help! Give the financial professionals a call at 888-928-7248 or complete the online contact form and we’ll be in touch!

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 future

These key pillars of financial health are all critical elements to helping an individual successfully navigate their finances and maintain financial stability, now and in the future. Giving your employees access to tools and resources that allow them to identify their current financial health in each of these categories is the first step to improving financial well-being. During times of challenge such as we’ve experienced with the pandemic and now rising inflation, employees who understand the basic elements of financial management are better equipped to weather the storm.

In February 2022, 26% of Americans were unable to pay at least one bill. 47% were concerned about paying at least one bill in March.

A solid financial education can help employees who may feel helpless against the rising tide of inflation and empower them to best utilize their available funds. At FinFit, we are committed to supporting the financial literacy of not only your employees, but the next generation of employees as well. Our financial education program, Ready University, offers courses for employees and their children.

Although the focus on financial literacy should not diminish during the other eleven months of the year, take a moment this April to share your company’s financial education resources with your employees. Select courses especially appropriate for managing money during today’s rising costs and encourage your employees to review the material. Ensure they know how important it is to create a budget, spend wisely and establish an emergency savings. Support them by offering employee benefits that allow them to achieve their goals. They’ll appreciate your caring for their well-being. 

Financial wellness tools and services give your employees the ability to pursue opportunities due to the stability of having a day-to-day financial system, which includes the capacity to spend, save, borrow, and plan. If you don’t currently offer financial education resources, tools and services, let us give you a hand. Schedule a demo with our team.

Without adequate savings in a bank account, a relatively minor financial molehill can easily turn into an insurmountable mountain for your employees. Unfortunately, many will attempt to rectify the financial emergency with a high interest-rate credit card — if available. Some will have no option other than to turn to the exorbitant rates of payday loans. They may even have to mortgage their future by tapping into their employer-sponsored retirement plan, such as a 401(k). For the majority of Americans with little to no access to affordable credit, lack of savings can be very costly and derail their financial goals.

Fortunately, we can help. As one of the largest, oldest, and most comprehensive financial wellness providers in the U.S., FinFit can help your employees develop healthy savings habits and create a plan to start saving today. Read on for a deeper dive into the ins and outs of savings accounts.  Click here to request a demo today.

What Is a Savings Account?

As a cornerstone of personal finance, a savings account is a type of deposit account offered by banks, credit unions, and other financial institutions. A basic short-term savings vehicle allows individuals to set aside money for a rainy day, special event, vacation, or any other financial situation that may arise.

A savings account should provide easy access to make manual or automated deposits, empowering your employees to securely and confidently save money. As an added bonus, the best savings accounts will pay interest as their funds build, accumulating annual yields. Some online banks and online savings accounts offer high-yield savings accounts that pay higher rates and can have minimal to no monthly fees.

While there are several types of accounts, including brokerage accounts, that do earn interest and appreciate, savings accounts are unique in they are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC). The FDIC is the main federal regulator of banks chartered by states that are not a part of the Federal Reserve System. In either case, the FDIC’s backing offers extra peace of mind: in the event the bank fails, this agency will reimburse the savings balance up to the allowable limit of $250,000.

How Do Savings Accounts Work?

To get started, employees need to open a savings account at a FinFit or another financial institution and deposit money into it. As long as the funds are left in the account, it will earn interest. With many automated programs and direct-deposit options available, employees can conveniently grow their balance as they work to achieve their unique savings goals, such as:

• Emergency savings account
• A family vacation
• Down payment on a house or real estate
• Down payment on a vehicle
• A just-because savings account

Depending on the financial institution, a savings account may be free to open and maintain, which means there are no monthly maintenance fees associated with the account. FinFit savings accounts are fee-free, with no monthly maintenance fees and no minimum balance requirements. Other financial institutions may require individuals to maintain a minimum balance, such as $500 to avoid a monthly maintenance fee. When performing evaluations for different savings accounts to offer your employees, make sure you evaluate the unique parameters of the account which can include key elements like:

• Minimum initial deposit amount
• Minimum account balance requirements and
• Monthly or quarterly withdrawal limits

Are There Different Types of Savings Accounts?

Because of the variety of potential needs, individuals can open one or several savings accounts, including a small business account. Each account can be earmarked for a specific purpose. Ensure the account affords the ability to easily withdraw from the account with minimal restrictions, in the event funds are needed to achieve savings goals or handle a financial challenge.

Are There Fees for a Savings Account?

The number of and type of fees for a savings account varies from institution to institution. Traditionally, most financial institutions have restrictions on how often the account can be withdrawn penalty-free. For example, a financial institution may allow up to six savings account withdrawals in a quarter. If this withdrawal limit is exceeded, the financial institution may charge a marginal fee or require conversion of the savings account to a checking account or Money Market account with more flexible withdrawal functionality.

Understanding Savings Account Interest

Savings accounts that have strong Annual Percent Yields (APYs) will help the balance grow more quickly. When money is deposited into a savings account, it empowers the bank to lend money to others. As a result, the savings account earns interest on the money as the financial institution’s way of saying thank you. However, savings accounts in general will have lower initial deposit requirements, lower monthly maintenance fees, lower monthly balance requirements, which means lower APYs.

Savings Accounts vs Other Types of Investments

In addition to savings accounts, there are a number of other short-term savings vehicles available. Once employees have paid down debt and established a basic savings account, they may have the opportunity to broaden their investment strategy. Some of the most common are listed below.

Money Market Accounts

Money market accounts (MMA) often combine the best features of savings accounts with checking account options, such as check-writing abilities and even debit cards. Money market accounts tend to pay higher APYs compared to savings accounts because the funds may be invested in mutual funds or similar vehicles. However, MMAs usually have significantly higher balance requirements so it’s important to read the fine print closely.

Certificates of Deposit

Certificates of Deposit (CDs) are engineered to hold funds for a predetermined term, such as three months or three years. During the term, individuals are unable to withdraw money from the account unless they pay a penalty. The longer the term, the higher the interest rate may be. At the end of the term, the original principal plus any accrued interest may be withdrawn.

Cash Management Accounts

Cash management accounts (CMAs) are a relatively new short-term savings vehicle offered by robo-advisors or investment firms. These accounts do pay interest but lack the security and insurance of a savings account.

Savings Accounts vs Spending Accounts

Now that we have laid the groundwork by explaining the ins and outs of a savings account, let’s review the benefits of having a spending account associated with a savings account.

The most significant difference between a spending and savings account can simply be boiled down to the names of the accounts and their inferred meaning.

1. Spending accounts are specifically designed for daily spending. Almost all spending or checking accounts will come with a debit card; some may include check-writing privileges, and a very high number of withdrawals.
2. Savings accounts are designed for saving. Because of this, the savings account may not have direct check-writing privileges from the account. If the savings account is linked to a spending account however, it likely offers the ability to withdraw funds via an ATM card. Savings accounts traditionally limit the number of withdrawals allowed during a given time period.

Spending accounts generally offer an unlimited number of withdrawals and the least encumbered access to funds. Because of the inherent purpose of a savings account, funds deposited into the account are generally not as accessible. Most financial institutions will limit the number of withdrawals allowed from a savings account within a period. If the number of allowable withdrawals is exceeded, the account holder may be subject to a fee. This practice was previously a federal requirement, but it was relaxed back in April 2020 due to the financial distress caused by the COVID-19 pandemic.

Interest Earned on Savings Accounts vs Spending Accounts

Another differentiating factor between spending and savings accounts is usually the interest rate. Virtually all savings accounts will pay some percentage of interest on deposits, even if it is minimal. Although spending accounts traditionally do not pay interest, some financial institutions do offer nominal rates to encourage higher balances.

For example, a spending account may offer interest for those who maintain an average daily balance of $25,000. However, keeping such a high balance in a spending account is usually not recommended — unless there is a specific reason for the funds to remain accessible. Otherwise, a savings account would be optimal to allow the money to accrue interest.

Fees for Savings Accounts vs Spending Accounts

Today, there are usually several ways to avoid fees on both spending and savings accounts. Some of the most common fees associated with savings and spending accounts include:

• Monthly maintenance fee: If an account has a monthly maintenance fee, it can typically be circumvented by maintaining a minimum balance. Ideally, your employees will have access to fee-free spending and savings accounts like the FinFit Spending and Savings Accounts.
• Overdraft fee: Only spending accounts have an overdraft fee.
• Out-of-network ATM fee: While commonly associated with spending accounts, savings accounts may also charge fees for withdrawals made on ATMs out of the financial institution’s network.
• Withdrawal limit fee: If the monthly or quarterly withdrawal limit set by the financial institution is exceeded for a savings account, fees may be assessed.

Should Your Employees Open a Savings or a Spending Account?

Both! Spending accounts and savings accounts are complementary — not competitive. Both of these accounts are key to managing a budget, improving financial health and achieving financial goals. When both accounts are opened with the same financial institution, it makes financial management easier. Most importantly, the savings account can then serve as a buffer or as overdraft protection for the checking account.

Checking Account + Savings Account = Overdraft Protection

Overdraft protection is a popular option that uses the funds in a savings account as a security blanket in the event an employee overdraws their checking account. For example, if there is only $5.00 in the checking account and the attempted purchase value is $25.00, the transaction could be:

• Declined, or
• Paid by the bank, which could generate a hefty insufficient funds fee.

Overdraft protection helps employees avoid these unfavorable outcomes and protect their hard-earned money. As long as sufficient funds are available in the savings account, an overdraft protection program would automatically move the funds to the spending account to cover the transaction.

How Much Should Employees Keep in a Savings Account?

The ideal balance to maintain in a savings account will vary by employee, based on their needs and financial goals. An excellent place to start is by establishing an emergency saving account for unexpected expenses. The goal for this account should be to have anywhere from three to six months of living expenses to protect against job loss or an emergency. Once an emergency savings account is established, employees can focus on opening specific savings accounts for life events, increase allocation to pay off debt to improve their credit score or establish a downpayment for a real estate purchase.

Do Your Employees Think They Don’t Make Enough to Save?

One of the most common and dangerous sentiments many individuals must overcome is the notion that “I don’t make enough to save anything.” First and foremost, no matter how much you make, you can save. Saving as little as $10 to $15 a week can quickly add up after a few months. Most financial institutions make it very easily to establish automatic transfers from checking to savings, or employees can allocate money directly from their paycheck to be deposited into their savings account every paycheck. Stack saving is another great way to slowly increase the amount saved.

The key to stack savings success is to start small. If your employees can get in the mindset of putting a small amount of money away, they will be able to increase the amount over time. Behavioral change for their spending and savings accounts. It might sound impossible for many of your employees if their goal were to save $1,378 in a year’s time. That’s a big number. But what if they had to put just $1 into savings this week? Next week, put in $2. The following week, $3. See the pattern? Save one dollar more than the previous week. It’s called “Stack Saving.” By the end of a full year, they would have $1,378 in savings just by taking incremental steps each week. And it all starts with a realistic, attainable plan.

Unlock the Amazing Benefits of a Savings Account

A savings account isn’t a nice-to-have; it is a must-have, foundational component of any financial health journey and must be contemplated during the financial planning phase. Let’s recap the benefits of a savings account:

Savings Accounts Are Insured by the FDIC

Savings accounts are unique in they are insured up to $250,000 by the FDIC, offering peace of mind that the money will be there in the rare event of bank failure.

Savings Accounts Are Low-Risk

Because savings accounts are not invested in the stock market, they are extremely low risk. When your employees deposit money into a savings account, they are essentially lending the bank money. The bank — in turn — issues loans to other customers with those funds. Your employees earn interest as a token of the financial institution’s gratitude.

Everyone Can Open a Savings Account

While some short-term savings vehicles like Money Market Accounts or Certificates of Deposit may require higher starting balances, everyone can open a savings account with virtually any amount of money.

Open Complimentary Spending and Savings Accounts

A spending account is essential for everyday money management and access to funds. Opening a complimentary savings account creates a dedicated account earmarked for a particular event, purchase or unexpected financial challenge. This point of delineation can help separate funds while strengthening healthy savings activity. Separate spending and savings accounts also makes budgeting for short-term and long-term goals easier.

Open Several Types of Savings Accounts

No matter the savings goal, there is a savings account exclusively designed for that. Open several savings accounts that support each unique financial goal. Having specific reasons to save can also encourage your employees to save more, knowing there is an end goal or reward.

Contact FinFit for Tailored Savings Solutions

Establishing savings can be daunting for many of your employees. That’s why we built our Spending and Savings Accounts to help your employees establish impactful solutions to help them manage their daily expenses while developing healthy savings habits.

Contact our team to learn how we can help your organization succeed: 1-888-928-7248 or request a demo here.

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 quiver of tools: employee financial education through robust financial wellness programs. Let’s take a closer look at financial wellness programs to see if they live up to the hype.

FinFit can help your employees measure their financial health with evaluation tools and educational resources to encourage healthier, financially sound decisions that lead to financial stability. Contact FinFit today if you have questions related to your organization’s financial health – we’re here to help guide you down the path to employing a healthier workforce.

Financial Wellness…Buzz Word or Buzz Worthy?

Over the past few years, financial wellness has been on the mind of virtually every human resource professional. If it wasn’t, it is now because it has become a top focus for employees when assessing their entire compensation and benefits package. A financial wellness program is a holistic solution designed to:

• Help employees reduce money-related stress
• Alleviate financial problems
• Improve financial capability and decision-making
• Gain financial confidence
• Achieve financial security

How Should an Effective Financial Wellness Program Work?

To get started, each employee completes a brief financial wellness assessment. Based on the results, the solution should empower employees to identify their financial goals, assess the areas where assistance is needed — such as establishing emergency savings or setting up life insurance — and then provide actionable tools and resources to help them move closer to achieving financial freedom by creating a plan. After the initial phase, the financial wellness program should deliver timely, personalized, and targeted communications and insights to help employees identify the next best step on their journey. Whether it’s one-on-one financial coaching, robust seminars on retirement planning, debt reduction webinars, or other financial literacy solutions, the financial wellness program should meet your employees where they are and move them closer to achieving their financial goals.

But do these programs really deliver results? Here are a few key areas of financial wellness programs and the desired outcomes.

Stressing the Importance of Financial Wellness and Healthy Personal Finance

Let’s face it: Financial stress is a drain on your workforce. In fact, financial stress is the leading stressor in the workplace — more than all stressors combined:

• 10% – Health Concerns

• 12% – Relationship Stress

• 15% – Job Stress

• 59% – Financial Stress

As the predominant source of stress, financial stress impacts your employees in more ways than one. The best way to combat financial stress is by implementing a robust financial wellness program.

Financial Wellness Can Improve Mental Health

While financial wellness may be the employee benefits star of the decade, mental health issues have a co-starring role. And if you’re looking to improve your employees’ mental health, it makes sense to start at the greatest source of stress — their finances. According to the 2019/2020 Global Benefits Attitudes Survey, 49% of American workers suffer from depression, anxiety, or stress associated with financial matters.

More so, many adults lose sleep because of money-related issues, which can further exacerbate mental health issues. Specifically, those suffering from financial stress are 3.4 times more likely to have panic attacks and anxiety. A holistic financial wellness program is designed to target the underlying cause of financial stress by showing employees the necessary path toward a solution.

Employee Financial Education Can Improve Physical Wellbeing

While the mental and emotional hazards of financial stress have been well documented, financial stress can also take a physical toll on employees if it’s left unchecked. One study suggests employees with financial stress are 20% more likely to have painful migraines.

According to Bankrate, financial problems are the biggest cause of sleep loss, and it’s showing no signs of slowing. The study indicates 78% of U.S. adults are losing sleep daily because of concerns over retirement savings, managing student loans, credit card payments, and healthcare costs.

When you add in the desire to save for a new house or handle unexpected financial decisions, it’s easy to see how financial stress can reach dangerous levels. People with substantial financial stress were 13 times more likely to have a heart attack. Fortunately, a financial wellness program centered around employee financial education can help remedy these physical manifestations of stress.

Employee Financial Literacy Education Can Impact Your Bottom Line

While improved employee financial education offers real benefits for employees, employers share in the successes in more ways than one — making it a real win-win.

Improve Employee Retention

As all employers reel from the Great Resignation and look for innovative ways to not only retain and engage top talent but attract fresh talent as well, financial wellness should take center stage. According to research conducted on over 14,000 employees by FinFit, offering a financial wellness program resulted in an 18.8% increase in retention among salaried and hourly employees. Along the same lines, employers say offering a financial wellness program can transform the workplace:

• 76% of employers say financial wellness leads to higher levels of employee job satisfaction.

• 65% of employers say financial wellness leads to higher levels of loyalty for employees.

In the end, your commitment to improving your employees’ financial wellness could be the deciding factor in whether they leave or stay.

Bolster Employee Recruitment

According to a 2019 PWC Employee Financial Wellness Survey, 78% of employees experiencing financial stress would be attracted to a different company that demonstrates concern over their financial wellness. This means offering a financial wellness program could better position your business to recruit top talent from your top competition.

Employee Financial Education Can Drive Cost Savings

While it may be counterintuitive, offering a financial wellness program can have a direct impact on your bottom line — in the form of savings. According to the previously mentioned research by FinFit, offering an employee financial education program can lead to a $1,855 annual turnover cost savings per employee. To put this into greater perspective, it equates to almost $2 million in annual savings for every 1,000 employees. How could your organization reappropriate $2 million each year?

Drive Employee Productivity

The correlation between money woes and decreased productivity is clear: When your employees are worrying about money problems, they can’t focus on work. And this is no secret among organizational leaders: 80% of employers report financial stress has reduced their employees’ overall performance. Based on the PWC 2018 Employee Financial Wellness Survey:

• 43% of employees surveyed said finances have been a distraction while at work.

• 21% of employees surveyed said financial worries impact their productivity.

Instead of being focused on the task at hand, employees are worried about finances, leading to missing important information, errors, and miscommunications. However, a financial wellness program offers targeted solutions to help alleviate their financial concerns.

Enhance Employee Morale and Company Culture

If your employees are worried about the feasibility of retirement or how to pay the latest medical bill, they are more likely to be disengaged and irritable with coworkers and customers. And the research supports this: Salary Finance’s 2019 Employers’ Guide to Financial Wellness suggests employees with money worries are 4.3 times more likely to have beleaguered relationships with colleagues. This can lead to increased confrontations, reduced morale, and eroding company culture.

Help Reduce Employee Absenteeism

Most likely, your employees are losing focus, getting sick, and missing work because they are consumed by financial stress. And this isn’t a secret — 58% of employers view financial “illness” as a prevalent component affecting employee absenteeism. Even worse, increased absenteeism related to financial stress is rising, with stress-related absenteeism skyrocketing by more than 300%.

However, offering financial wellness and employee financial education programs are turn-key solutions designed to quell the swell. For example, employers who offer a financial wellness program experience an average of $348 reduction in operating costs per sick day.

Maximize Your Employee Benefits Package Spend ROI

We get it — you have limited dollars to spend on employee benefit plans, and employee financial education may not rank at the top of the list. However, if you’re looking to maximize your employee benefits spend and ROI, it’s time to take a second look at financial wellness and employee financial education programs. The Consumer Financial Protection Bureau suggests employers can expect a three-dollar return for every dollar spent on a financial wellness program.

Measuring the Success of Your Financial Wellness Program

Very simply, offering your employees a financial wellness program is key to unlocking their full potential. More than 8 out of 10 employers agree that financial wellness programs lead to:

• Greater employee productivity
• More loyal employees
• More satisfied employees
• More engaged employees

However, not all financial wellness programs are created equally. To get the real results you want and your employees deserve, accurate measurements are in order. Here are a few of the top measurable KPIs to gauge the success of your financial wellness program:

Financial Wellness Engagement KPIs

If your employees don’t engage with the program, it’s impossible for them to reap the benefits. As such, the following KPIs are a great starting point to measuring success.

• What percentage of your employees are enrolled in the program?
• What percentage of your employees actively engage with the program?
• How much has program use and engagement changed or grown over a specific period?
• What is your return log-in rate?
• How many pages does each user visit per visit?
• How much time are they spending on the employee financial education site?

Gauge Positive Employee Action

Measuring employee financial education engagement is important, but the true measure of success is how the program has prompted employees to change actions and behaviors. Look to measure:

• Change in retirement plan participation
• Change in retirement plan contribution rates
• Increased percentage of employees that have optimized the employer match
• Decrease in the number of 401(k) plan loans
• Increase in the utilization rate of other employee benefits
• Overall increase in employees’ retirement savings plans
• The number of employees who started emergency savings
• The percentage of employees that have changed their emergency savings rate
• The number of employees who started contributing to an HSA
• The percentage of employees who changed their HSA contribution rate

Gauge Employee Confidence & Sentiment

When it comes to your financial wellness program, it’s also about how your employees feel. Your employee financial education program should help you determine:

• How much do your employees actually like the financial wellness program and resources offered?
• Are your employees more or less confident after participating in the financial wellness program?
• Have your employees experienced a decrease in financial stress?

Reach Out to FinFit for Financial Wellness Solutions

Finding the best financial wellness and employee education program to suit your organizational needs can be a difficult task, but FinFit makes it easy. We are the oldest, largest, most comprehensive financial wellness and employee financial education provider in the United States. Since 2008, we’ve been dedicated to helping employers and employees improve their financial health and become financially stable. Today, we provide financial wellness solutions for more than 200,000 employers. However, the real impact story of our financial wellness and employee financial education lies in the lives and organizations we have helped change:

• 25%+ Improvement in Employee Retention

• 88% Increase in Employee Productivity

• 55% Reduction in 401(k) Borrowing

• 80% Decrease in Financial Savings

• 70% Increase in Monthly Savings

Ready to help your employees and transform your organization? Contact FinFit today by completing the online contact form. Or, for immediate assistance, don’t hesitate to call us now at 1-888-928-7248. In either case, an experienced Financial Pro at FinFit is waiting to help.

Starting off, however, things might seem overwhelming, even like looking at a tidal wave from the bottom of the sand and wondering how in the world you will get out of that financial problem. Folks are in crowded company as people from all backgrounds are in the same boat. However, since 2008 when the big real estate-driven recession hit, FinFit has been guiding people proactively toward better financial futures and financial wellness. That includes being able to proactively manage savings, spending within a budget, and borrowing intelligently versus just as a stopgap. So, the first big step for anyone is to realize a financial problem exists, be honest about it, and then take action with FinFit to do something about it.

What Does Financial Well-Being Look Like?

Financial well-being consists of several building blocks, but some people confuse it with simply being able to buy things. People start working early to gain income. As people earn more, their cost of living goes up. At a certain point, a person has to decide to borrow to achieve the things that help a person step up in life. While there is good borrowing, it’s not defined well, and many start borrowing heavily the wrong way. That’s when the common trap occurs, as people get stuck in heavy loads of consumer debt, credit card debt, loans to pay off loans, and similar. At some point, a person realizes every dollar being earned is going to pay a debt, and something needs to happen quickly before it becomes too much.

In reality, financial freedom is far more complex. Financial health includes income to get through the month, managing a budget effectively, saving for big needs or emergencies, short-term investing and long-term or retirement savings, and capital expenses like a home or a car. Every component makes up a specific mix for a person and their individual financial health. No two people are exactly alike, but there are a lot of commonalities that create the ability to show people what works and what doesn’t in most cases. So let’s break it down to understand these building blocks better:

• Personal income – This is the money that people typically earn from a job or working on projects to receive the cash that pays personal bills, buys food, pays for the fuel for a vehicle, and basically gets one through the month and year, week after week. Some folks are paid by paycheck from an employer, and others are paid as a contractor by project. However, the purpose and effect are the same. This component represents 95 percent of what most people think of as their “money,” but the bigger question is, does a person have the ability to earn more? Most folks never ask themselves this question, so their income becomes capped by their own confidence level. That then means the alternative option has to be used: reduce expenses.
• Personal expenses – These are the finances people have every day, week, and month to live and get along reasonably. They include hard expenses like rent and mortgages, utility bills, food, vehicle fuel, and similar that have to be paid. They also include discretionary costs like entertainment, clothing, travel, and things that people can do without, but they choose to have them for different reasons. The discretionary costs produce the most savings but are often the hardest to cut. The hard costs can be reduced sometimes, but they don’t usually produce big savings.
• Savings — Everything from emergency savings to travel money to general savings falls in this category. In short, it is money set aside for bigger purposes than just daily living. And it takes some money management to grow. Savings account monies are the most common form of this component.
• Assets – People own different types of property in life. Assets have real value and can be sold if needed for sizable amounts of money. Assets are often in one of two forms: large fixture items like a house, or small but valuable forms like gold coins or stamp collections.
• Debt – This is the cost of borrowing money to buy or achieve things in life without paying for them in full upfront. When people go to college, they borrow money to pay the tuition costs. Then, they pay back the money plus interest to fulfill the loan obligation over time. Credit cards, student loans, and auto loans work the same way. However, too much debt eats up a person’s income and leaves nothing for other expenses. When a person’s financial portfolio is debt-heavy, they become at risk for financial failure and bankruptcy.
• Insurance – Modern life is full of risks that can wipe out a person’s hard work. In the old days, if people had bad luck, they ended up homeless. Today, we have insurance that helps avoid big costs if people pay a monthly fee for the protection. Insurance is critical for health care, driving, protecting key assets like a home, and protecting our loved ones with life insurance if a person passes away unexpectedly. And don’t forget disability insurance either!
• A Budget – Balancing between income, bills, and debt is a skill that is learned, and people need to apply it effectively to achieve financial success. Ideally, one wants to make enough income to cover all expenses. When that is not possible, a budget needs to bring in more money or reduce expenses to balance things out. A good budget also leaves some leftover to produce savings over time.
• Goals – What is the point of all your financial efforts? Goals are good to have because they help focus efforts as well as ensure financial discipline in spending. You can only save when you put aside enough to do so, including an emergency fund. That helps keep spending in line and drives a person to earn more income when possible. So, goals inherently produce better financial results, financial security, and financial life practices.

Do Financial Decisions Happen Blindly?

Poor financial decisions made without forethought produce even more problems. When people prepare, plan and execute financial decisions intelligently, the outcomes are far more positive and effective. That said, life is full of surprises, and they too can cause things to take a turn for the worse. Planning and preparing for such risks versus just waiting for them to happen also helps avoid becoming headaches and financial disasters people can’t dig out of later on. Examples include unexpected illnesses, accidents, legal issues, tax mistakes, and similar.

Instead of operating blindly, those with healthy financial wellness plan for tomorrow and into the future. They don’t settle for what works for just the year; they have details and goals in motion for the next five, ten, and twenty years. That’s because financial well-being is an ongoing practice. It involves creating a personal plan and repeatedly updating it as things change, new opportunities arrive, and initial goals are achieved.

How Does One Get Started Exploring Financial Health?

The first challenge is the current status analysis. That means taking an honest look at your financial habits right now using bank statements, income documents or pay stubs, credit reports, credit card bills, loan statements, and a listing of any assets owned. This is critical for understanding a person’s current starting point and what needs improvement. Married couples should include both personal pictures, not just one partner alone. Try not to hide anything either. It won’t do anyone any good, and the missing information can easily skew the total picture of one’s current status.

Next, a financial planner needs to review the materials collected objectively and then identify the vulnerabilities. That means clearly evaluating a person’s spending habits, critical expenses, and discretionary costs versus their income and what can change for the better. Sometimes the advice can be focused on squeezing down on unnecessary expenses. For others, it may very well be needing to get a second job for a bit to move ahead and get rid of debt. Everybody’s case is different depending on what they need to do to achieve financial wellness.

Finally, with a full picture and a clear idea of the alternatives available, a budget plan can be developed that effectively protects income, addresses necessary expenses, avoids waste, and begins to make progress toward real financial goals and a strong future. In short, it’s the big step toward taking control again.

Are There Elements of Your Financial Health You Can Control Right Now?

In short, the answer is yes. You are not alone if you feel that your financial situation is unworkable, that you’re helpless to make any real headway. Financial accomplishments don’t happen like Vegas — a big win in one day. Instead, they take persistent work every day and improve over time. In some regards, our educational system has shortchanged people by not providing a viable financial education along with everything else people need to learn to function in society. So, as a result, most people get lost.

The initial basics of moving toward better financial health are well understood: pay off credit cards, get rid of or refinance big loans for better terms, cut spending, and earn more income where possible. However, that’s not the whole picture. Retirement plans, education, long-term savings, and ongoing spending habits are essential as well.

How Can a Financial Advisor Help?

Consider the possibilities:

• Professional assistance in developing a working budget plan.
• Examining overall debt and pointing out where it can be reduced.
• Identifying the true cost of debt versus saving and paying in cash.
• What options are available if one’s debt is too much to reasonably resolve.
• Resources for learning and obtaining financial literacy.
• Fully understanding one’s daily spending and needs versus just hoping it all works out every month.
• Examining how today’s choices are moving toward tomorrow’s goals.

All these items above and many more can be realized with help from a professional financial advisor geared toward improving financial well-being.

Identifying Long-Term Financial Goals

Your goals are your own, but a financial planner can help verbalize them into realistic targets that make sense and are doable. That includes plans and steps utilizing investment options to effectively wipe out debt and realize control of one’s financial future. Realistic goals include:

• Retiring early
• Travel
• Education plans
• Buying a home

FinFit’s unique program and financial services are designed to maximize financial wellness from a holistic perspective versus just singular components, like resolving debt alone. With a goal-oriented approach, FinFit advisors help people craft realistic paths that can be put in action from day one to produce positive results by progressively working toward financial independence.

In short, what does financial wellness mean to you? Take control of your life’s financial direction and take action on improving your financial situation.

Connect digitally with FinFit’s online form or talk in person via 1-888-928-7248 and kick off your transition to financial wellness for your future. Financial wellness programs work. Fix your personal finance today instead of waiting for tomorrow. Employers, call us for employee financial wellness as well.

Your employees are stressed about the cost of living, student loan debt, the cost of supporting a family, and preparing for the future. Nevermind the stress of meeting the demands of their job responsibilities, balancing family obligations, striving for personal goals, and finding the time to enjoy this precious thing called life. 

As an employer, you can help. Fostering a work environment that supports your employees’ financial wellness goals will remove a huge burden from their shoulders. By offering financial tools and resources they wouldn’t otherwise have access to, you’ll be empowering them to lessen their personal financial challenges and refocus on work. In the same PwC survey, 35% of employees said that issues with their personal finances have been a distraction at work and 49% of them spend 3+ hours a week dealing with their personal issues at work. 

Personal finance curriculum is only required in twenty states. Once an adult enters the workforce, they are generally ill-equipped with the information they need to thrive financially, leaving many stressed and frustrated. This stress will affect your bottom line if you don’t step in and offer financial wellness benefits.

How can your organization improve workplace financial wellness? Here are some initial steps that will set your financial wellness program up for success and give you the opportunity to measure its effectiveness. 

Step #1: Conduct a financial wellness survey. 

This will help to determine your employees’ current financial needs and what services they most require. If your company already offers a financial wellness program, your employees may have access to a personal financial assessment for which you could obtain the results. If not, you could conduct an anonymous survey to gain insight into the services your employees need. 

Step #2: Decide how you are going to measure your ROI. 

83% of human resource professionals say financial stress negatively impacts employees’ work performance. Beyond the inability to focus, financial challenges contribute to absenteeism, strains on morale, declining physical and mental health, and can lead to turnover. 

According to EY’s “Understanding the ROI of employee financial wellness”, organizations expect the return on investment (ROI) to justify the expense. When it comes to financial wellness programs, calculating that figure isn’t always an exact science, but you can set metrics and goals to help validate the investment you’re making into the financial wellness program (see below). A good barometer, and one which indicates that employees value the benefit enough to use it, is employee engagement. 

Step #3: Keep your goals in mind. 

As you implement a financial wellness initiative and measure its effectiveness, keep in mind that the core purpose of this program to elevate the financial health and well-being of each employee. Companies lose over $450 billion a year due to employee financial stress. A healthier employee is a win for everyone – the individual, their family, the company and the community. 

Once you have identified your approach, it’s time to identify the right metrics for measuring success. Here are six ways you can determine if the workplace financial wellness is improving:

1. Is there increased engagement with the financial wellness program products, services, tools, and resources?
2. Are employees investing more into their HSAs or retirement plans? If you have access to data from an online money management tool, you’ll also be able to see if employees are increasing their personal savings. 
3. Is there is a change in the frequency of wage garnishments?
4. Are you seeing less requests for 401(k) loans and payroll advances? 
5. Are there anecdotal success stories? Your HR team is usually the first place employees go if they are having trouble or wish to share a success. Consult with the team to get a pulse on how employees are doing and if their financial wellness is improving. 
6. Work with your financial wellness benefit provider to gather case studies and data to see if the efforts are working. It’s rewarding for the employee and employer to see employees reach their personal financial goals, especially with the support of employer benefits. 

Real Behavioral Change

In one of our case studies, we took a deep dive into Monica’s financial situation. When Monica first enrolled in the FinFit program, she was in a financially vulnerable state. She was over the age of 35 and had less than $10,000 saved for retirement. After taking advantage of our educational courses, her confidence in her money management skills soared and her financial behaviors adjusted to match. Today, Monica invests 4-6% of her monthly earnings into her retirement account and saves 2% each month for emergencies. She retook our financial assessment and improved from a financially vulnerable state to financially healthy. Read more of our employee case studies. 

FinFit helps boost employee productivity and increase company morale by offering a 24/7 financial wellness program. If you’re thinking about offering a financial wellness program at your company, get in touch with us or request a demo today!

How A Financial Wellness Program Can Boost Productivity

The merging of personal and work lives continues to increase given the increasingly remote work landscape. So, while some personal issues may be unrelated to work, employees bringing their financial issues to the office can become an issue for employers. Offering a financial wellness program as a benefit for employees, including educational resources and financial solutions, can be a huge factor when it comes to recruiting and retaining employees.

Are Your Employees Ready to Meet Their Financial Goals?

Many people today associate financial planning and a current financial situation with the funds incoming. Other financial services may go ignored until a financial challenge arises. Many employees, especially the younger generations, may not think about financial planning until they get closer to retirement. Financial planning is so much more than saving for retirement. However, without knowledge, guidance and training, many employees have no idea where to begin. A financial wellness program can provide insight, direction and resources to enable employees to establish money management goals and create a plan to achieve financial independence, now and in the future.

What is a Financial Needs Analysis?

Every positive step forward starts with looking back and assessing current or past behaviors. If you don’t know where you stand in the present, it’s difficult to determine possible improvements for one’s financial security. A financial needs analysis provides employees with an objective, realistic perspective on their current status. It covers where they have weak spots that will continue to hamper their goals if not addressed. Further, the analysis can point out steps to take to make smart, positive behavioral changes.

Whether that’s for education funding, creating an emergency fund, determining the best use of credit cards or how to find a financial advisor, the analysis provides personalized guidance and recommendations unique to the individual. Every individual financial situation is unique, as is every financial needs analysis.

How a Financial Wellness Program Helps

The program starts off by personally assessing all of the participating employees and identifying common financial challenges, liabilities, planning concerns associated with personal finances, and cash flow issues. There are varied financial struggles and levels at which each employee is dealing with them, but the issues that consistently percolate to the top oftentimes have the most direct impact on overall company productivity. Through a holistic financial wellness program like FinFit, employees gain access to educational resources, financial tools and expert financial coaching that helps them make positive behavioral changes when planning for both the near-term and long-term future.

Financial planning is far more than retirement savings, investing in stocks, mutual funds and annuities from an insurance company. Planning tools can include help with IRAs, life insurance policies, emergency fund accounts, financial coaching, budgeting worksheets, children’s education expenses, risk tolerance calculators, college financial aid, retirement income needs, and debt solutions. When organizations prioritize income protection and securing the financial futures of their employees, the organization grows stronger and smarter as a group. That turns into better performance, better productivity, increased employee retention and overall improved morale for the company.

Reach Out to FinFit Today to Start a Financial Needs Analysis for Your Employees

FinFit’s FNA process has been a proven resource for employee financial training, employee retention and morale improvement. The emotional, physical, mental, and financial health of employees has a huge collective impact on the company bottom line. Financial challenges will impact the best of employees when they are worrying about how to solve personal financial problems. With FinFit, your company can put the right financial services, educational tools and expert financial products in your employees’ hands to help them get back on track with financial planning to establish a solid financial future.

The New American Workspace:
Millenials
at the Gate

By David Kilby

Summary:

Introduction

About Millenials:

Technology/Social Media

Here are just a few of the positive attributes Millennials bring to the workscape:

Two other facts from the PwC report:

The Law of Unintended Consequences

Here’s Some More Information

What’s Your Corporate Strategy for Attracting Millenials?

Hiring the Brightest & Best

The 3-point Employe Wish List:

Did You Know?

Millenial Employment Check List

Managing for Engagement & Retention

But, let’s talk for a
minute again about
financial wellness.
How do employers
integrate it into the
company culture,
how can they get it
established, and how
do Millennials react
to the concept?

For the employer,
financial wellness
has practical
economic benefits
that bring ROI of
300% and greater.