We’re here to help our partners, clients, and their employees weather these uncertain times. The volatility of the economy coupled with the evolving status of the coronavirus (COVID-19) are understandably cause for concern and require appropriate precautionary measures. It is as important to be well-informed as it is to be prepared.
The Centers for Disease Control and Prevention provide many excellent resources offering insight into the best courses of action, as well as the latest updates regarding the state of affairs. It’s difficult to sort through the various media and news outlet updates, so having an official resource to rely on for information is crucial.
The CDC also published this guide to help keep workplaces, schools, homes and commercial, establishments safe. Some of their health and safety recommendations:
From a financial wellness perspective, it is imperative to monitor and prepare as best you can to weather the economic effects of recent events. As a client of FinFit, please encourage your employees to create their memberships and take advantage of the wealth of financial resources and services available to them through the FinFit platform, accessible 24/7 from any device.
Our certified financial coaches are available for one-on-one member counseling, and the service is completely free to FinFit members. Your employees can take advantage of expert advice to help them best prepare to support themselves and their families as the state of the economy continues to evolve.
Help them get ahead of the financial impact with professional guidance on topics like budget planning, debt concerns, childcare, job loss, and saving for emergencies. Here is a list of common counseling questions you can share with your employees if they aren’t sure how to start the conversation with a financial coach.
Encourage your employees to cut back on spending where they can and put money away, even if they feel as though the amount is negligible. One of the best things employees can do to weather uncertain times and unexpected events is create or add to an emergency savings fund. (Tip: Save that tax refund.) FinFit members can get tips on how to build emergency savings in this Building Emergency Savings course.
Unfortunately, during trying times like these, employees must remain diligently aware of scammers using malicious links posing as helpful Coronavirus resources to steal their data. There are valuable tips in this recent PaymentsSource article – share this type of information with your employees to make them aware of various fraud and phishing methods. FinFit members can learn more about how to reduce their risk of identity theft and protect financially sensitive information in this Identity Protection course.
Preparation is the best protection during uncertain times. It’s crucial to envision yourself in your employees’ shoes. What are they thinking? What is their level of confidence in their financial position? Do they feel they have the knowledge and resources available to help them successfully navigate their future, both the short- and long-term? Now is the time to educate your employees and give them the tools and resources they need to organize and manage their finances, reduce their stress and anxiety, and confidently move forward with a feeling of optimism.
The health and well-being of our partners, clients, employees, and our communities is our top priority. Our FinFit Customer Support team and Account managers are here to support your business and your employees in any way that we can. Should you find yourself in need of assistance, please contact us and we’ll work together to help find a solution.