Many employers feel that their responsibility to help and support their staff is not limited to distributing paychecks and providing legally-mandated breaks and benefits. Managers often look at staff development and training programs as a way to help their teams grow, both as workers and as people. Work-related training programs are an excellent way for employers to invest in their staff. However, offering financial literacy education and financial management tools is another effective way that business owners can help their employees while reaping the benefits of a more educated and focused workforce. Whether you operate within the financial sector or not, consider these benefits of offering financial literacy education and money management tools to your team.
Less Financial Stress Can Improve Focus and Performance
As much as they may try to compartmentalize, your workers likely bring their stresses to work with them. When employees are preoccupied with their stressful financial situations, they may be less attentive, thorough, and productive at work. If your employees have taken on extra gigs to make ends meet, they will be even more tired and distracted while on the clock. By giving your team the tools they need to make better financial decisions, you can help your staff reduce distractions, absences, and mistakes.
Financial Literacy is Beneficial for Work in Any Industry
Whether you run a small local bakery or a massive advertising firm, having employees who are educated and financially literate is a plus. Teaching your team about things like budgeting, career planning, and calculating payments and interest can help them both personally and professionally. Every business involves financial transactions and budgeting to some degree, and encouraging your staff to think critically about their personal finances can result in more disciplined and analytical workers.
Offering Financial Literacy Tools Can Attract New Employees
When you offer financial literacy tools to your staff, you are also boosting your desirability as an employer. Many proactive and hardworking professionals value any learning opportunities that a potential employer can provide. By letting job applicants know that you offer company-sponsored financial education and planning services, you can attract candidates who value personal improvement, financial stability, and continual learning.
Use EveryIncome to Boost Your Team’s Financial Literacy
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.