Help Empower Your Employees to Manage Their Finances
| Posted in Bank Blogs
August 14 is National Financial Awareness Day in America, an annual event to help promote the importance of good financial habits and financial health. It also presents a great opportunity to help your employees by offering benefits and education to empower them to take charge of their financial lives.
Promoting financial education and awareness to your employees and their families offers powerful benefits to your staff and your company. You can:
- Help your employees make informed financial decisions.
- Reduce the financial stress of your employees.
- Boost employee productivity, loyalty, and retention for your company.
Sound good? Let's look at some ways you can bring this valuable benefit to your workplace:
- Send out a survey to ask your employees what financial skills they want to learn more about or improve.
- Based on their input, offer lunch and learn workshops where they can learn how to budget, buy a home, save for retirement, and pay for college.
- Create workplace challenges that encourage employees to take charge of their money, like opening an emergency savings account, having a no-spending day, setting up automatic transfers from checking to savings, or reading a recommended financial book.
- Send financial tips to employees each month, such as easy ways to save or pay down debt.
- Partner with experts such as financial advisers or real estate agents to offer your employees workshops, assistance, or one-on-one coaching.
- Run a financial awareness sweepstakes where your employees can win money for their emergency fund.
- Incorporate your financial awareness programs into your benefits programs, materials, and onboarding to show employees and candidates that you care about their financial well-being.
- Highlight financial success stories and tips in your company’s newsletter or Intranet.
- Have a financial awareness day at your company with guest speakers, games, and events to draw your employees and families in.
Making financial wellness a benefit at your company is good for your employees and a great way to foster employee satisfaction and retention for you.