Workplace Financial Wellness

Why Employee’s Financial Issues Are An Employer’s Problem

USA Today recently reported that the #1 cause of stress in the workplace is personal finances. In research by The Personal Finance Employee Education Foundation, 30 million American workers (or 1 in 4 adults) report they are seriously financially distressed and dissatisfied with their personal finances. A Virginia Tech study shows that the typical employee uses up to 27 hours a month working on personal finances. Financially stressed employees use even more. Other research shows absenteeism, presenteeism, and health care costs are also impacted by financial stress. Although it is the employee’s problem, it is at an employer’s cost.

“61% of human resources professionals say financial stress is having some impact on employee work performance.”

“71% of Americans surveyed report money as the leading source of stress”

Are these some of your challenges?

  • Employees seem disengaged in financial programs.
  • Productivity suffers from employee financial issues.
  • Significant numbers of hardship withdrawals and loans
  • Personal financial problems crop up in discussion with employees and bosses.
  • Some of the employee benefits that should be highly valued are not utilized by employees.
  • Health care, including stress related items, keep increasing.
  • HR time ends up being utilized with employees facing and struggling with financial issues.
  • Providing ROI on financial wellness programs has been difficult.
  • You have a divergent workforce that needs different financial services.
  • You don’t have the staff or resources to offer a program.
  • Worker retention isn’t where you would like it to be.

Are these some of your goals?

  • Provide cost-effective & outstanding benefits to employees.
  • Have educational programs that engage your employees and make a difference.
  • Work to reduce health costs through various wellness programs.
  • Incorporate financial wellness beyond enrolment and 401k services.
  • Build your reputation as a desirable employment company.
  • Have financial wellness programming tailored to fit your budget.
  • Avoid the same old boring financial education stuff!
  • Help your employees reduce their debt and increase financial security

Our Financial Wellness Programs can offer these components:

How We Can Work Together

Together we create a program for your company’s employees to help them become fiscally fit. We tailor the program to fit your employees’ profile and budget. In addition to our three distinct programs:  Smart Money Decisions, The Financial Task Roadmap and Making it Happen Clubs, there are ways you can partner with us and tailor the program to your employees’ needs:

  • Sponsor educational seminars on site
  • Provide meeting space for weekly meetings
  • Actively promote the program by providing web conferences for remote employees and spouses
  • Make membership an employee benefit
  • Subsidize full or partial discounted membership costs
  • Make all the resources available to all employees through a Financial Wellness Program
  • Arrange for one on one meetings for employees

Need Support to Convince Senior Management?

How Fiscal Fitness Clubs Work

Fiscal Fitness Clubs start with classes to accelerate financial knowledge and personal changes through classes, assignments, and help from a coach. After this, members join weekly meetings (in person or via web conferencing) that start with a private “check-in” that tracks weekly progress towards personal goals. It provides motivation and focuses needed for behavior change to reduce debt, build savings, and control spending. The financial coach leads celebrating successes and strategies and solutions to challenges being faced by participants. Once a month, the group meeting is dedicated to a specific financial issue with practical, repeatable exercises that teach members to manage their financial resources covering:

Taking Control Classes:

1. Orientation & Tools Class
2. Getting Ready to Change
3. Using
4. Understanding your Current Patterns
5. Diving into the Numbers – Budgets
6. Diving into the Numbers – Assessing Net Worth
7. Creating A New Master Plan – Cashflow
8. Creating a New Master Plan – Debt Reduction
9. Creating a New Master Plan Goal Achievement Plan
10. Celebration Class

Monthly Action Classes

JAN:    Paperwork Management
FEB:    Annual Financial Summary
MAR:  Taxes
APR:    Investment Review
MAY:   Life, Disability, LTC & Supplemental Health Plans
JUN:    Retirement Planning & Projection
JUL:     Other Goals (including debt management)
AUG:    Liability Insurance Review
SEP:     Legal Documents & Estate Planning
OCT:    Employee Benefits Review
NOV:   Year-End Tax Strategies & Actions
DEC:    Annual Goal and Budget Review 


We CAN help your employees develop the skills to become  FISCALLY FIT and IMPROVE YOUR BOTTOM LINE.

Not ready to chat? Sign up for your 6 Tips to Creating a Great Financial Wellness Program

People are telling us that by tackling their money each month and sharing with a group, they get a sense of accomplishment when completing the money challenges.  They are also becoming less stressed and more confident about taking control of their finances!