Companies typically invest in work-related training to boost their employees’ performance, but offering financial wellness tools is also valuable. Providing financial literacy training and other educational assets gives your employees the things they need to master finances and plan for a stable future. When your workers are not stressed about money, they can focus on work and leave that aspect of their home lives at the door. Here are some ways that businesses can help their employees master finances.
Help Your Staff Master Finances With Personal Finance Education
One of the most significant ways employers can boost their staff’s financial proficiency is by offering personal finance education and planning tools. Choose a customized program that meets employees at their level; while one person may be learning the basics of credit, another may be well on their way to planning how to spend their accumulated retirement savings. Personalized tools allow employees to master finances at a pace that is appropriate for them, giving them (and you) the greatest possible benefit. Some employers find that offering incentives boosts engagement in personal finance education programs, so consider instituting a rewards program for participation.
Offer (Well-Explained and Advertised) Benefits
Many employers offer things like 401(k) matching, health savings accounts, and other benefits and incentives. Offering a robust 401(k) matching plan or HSA program is an excellent way to encourage financial planning and stability, but these benefits should be accompanied by education. Give your staff the tools they need to fully understand and utilize these benefits, and be sure to encourage the use of these tax-saving programs.
Make Financial Health Part of Your Wellness Program
More and more businesses are incorporating wellness programs into their company culture. From company-wide fitness contests to bonuses for continuing education, these programs encourage your staff to be the best that they can be — which, in turn, gives you the best possible employees. Consider adding a financial literacy and education aspect to your company’s wellness plan. Helping your staff improve all facets of their lives creates happier and more well-rounded employees, and helping them master finances can reduce the negative impacts of employee stress.
Use EveryIncome to Boost Your Team’s Financial Proficiency
EveryIncome is dedicated to providing our clients with career and finance management tools to help them create a stable financial future. Whether you are an individual, a small business owner, or part of a multinational corporation, our system of tools and guided learning is tailored to fit your specific needs. Our solutions for businesses allow employers to give their staff the financial planning tools that they need to stay in control of their finances. Contact the team at EveryIncome online or give us a call at (571)370-5400 to learn more about our offerings. For more valuable tips for business owners, follow EveryIncome on Facebook, Twitter, and LinkedIn.