How Can Employers Help Employees Improve Their Personal Financial Well-Being?

Employers can help employees meet their financial needs and even change and take charge of their financial lives by giving them access to financial education and wellness programs. More than ever, workers are turning to their employers for support in the areas of financial education and long-term planning. Many companies across the country have recognized this need and the potential upside for them and their employees. Nearly two-thirds of American businesses believe that today's uncertain economic environment creates opportunities for them to introduce new benefits that will improve employee attraction, retention and productivity. In today's current environment people have access to a great deal of information. However, this information overload is having the reverse effect and many people are failing to make sound financial decisions due to confusion and being overwhelmed. In fact, more often individuals become paralyzed and fail to do anything. Therefore, many people now seek advisors who are able to help them make sound financial life decisions for them. When implemented thoughtfully, a financial education program allows employers to realize returns in terms of reduced turnover, increased job performance and an overall reduction in lost work-time.