The negative impact of Employee’s financial issues hasn’t gone unnoticed by employers. Employee’s Personal Financial issues normally manifest themselves in the workplace as they moonlight to get some extra money. This causes anxiety, depression, absenteeism and productivity problems that affect your organization productivity. A significant percentage of employees admit that their personal finances have been a distraction at work. Personal Financial Education is a basic life management skill that every employee should be equipped with to help them manage their personal finances better.
The current trend is employees looking up to their Employers for help with building their financial fitness. Worldwide, it has become clear that providing financial management skills to employees is not only beneficial to them, but also for the Employer’s bottom line as well. It is also gradually being recognized that financial education is a low cost, high impact benefit. Many companies have of late taken initiatives of addressing the financial wellness of their Employees by offering financial education to help them manage their money.
- To equip participants with financial skills, a skill they need to become better workers
- Creating a supportive workplace, so employees know they are valued and feel more satisfaction in their jobs.
- To help employees start planning for retirement early enough
- Gain an overview of their personal financial situation
- Develop and Maintain positive personal management behaviors,
- Plan for their future better
- Live their ideal financial lives by making the most out of their money
- Improved Employer bottom line
- Employees financial wellness
- Reduced stress levels
- It’s a low cost high impact benefit for employees
As an employer, you will play part in this employee empowerment, confirming that despite their earning levels, they can all learn good money management habits and that we can all aspire to a good level of financial security.