Workplace
WORKPLACE FINANCIAL LITERACY
Do you feel like you’re spending too much of your time handling employee engagement issues?
Have you been involved in conversations asking “what more can we do to attract and retain good people?”
Perhaps you’d just like to witness higher productivity among your existing people?
As you know all too well, what happens in the personal life of your employees affects how effective they are at work. This is one of the key premises of Employee Assistance Programs.
MOTIVATE EMPLOYEES AND IMPROVE PRODUCTIVITY
Employers are continually looking for new ways to motivate employees and improve productivity.
Workplace financial education provides employees with the skills and knowledge to better understand and manage the various personal financial and investment issues they face at each stage of their financial lives. Workplace financial education provides employees with the skills and knowledge to better understand and manage the various personal financial and investment issues they face at each stage of their financial lives.
By offering personal financial education to employees, employers also convey an interest in the personal welfare of employees, which can act to motivate workers, and attract and retain high quality and productive employees.
The Vincita Institute produces programs that are designed to provide employees with the ability to make educated and informed financial and investment decisions.
Our programs also seek to draw a connection between the personal financial security and success of the employee and the success of the organization for which they work.
Comprehending the link between their own financial success and the financial success of the organization acts to motivate employees and improve their productivity.
- Attract, retain, reward and motivate the right employees
- Reduce employee turnover and re-training costs
- Reduce employee lost productivity due to financial worries
- Increase employee morale and loyalty by providing an invaluable benefit
- Save Human Resource Professionals time by answering many of the questions that would otherwise be asked to them
- Reduce employee garnishments
- Reduce time lost due to stress related illness
- The Vincita Institute educational programs can be linked back to the values that the company would like to instill in its employees
- The Vincita Institute programs demonstrate to employees that the company cares about their well-being, which in turn improves employee morale
- Helps to reduce other liability threats to employers from
- Unbiased – no product sales
- Timely information; up-to-the-minute trends, strategies and news
Bottom Line Benefit
The Personal Finance Employee Education Foundation (PFEEF) study shows that the average ROI for workplace financial education is 3:1. You can contact PFEEF to have a ROI analysis, as well as a dollar amount of potential savings analysis, completed for your company.
ADDITIONAL BENEFITS TO EMPLOYERS
Increases 401(k) Participation : Since 1990, “Investing for a Great Retirement!” has consistently increased employee participation in corporate-sponsored retirement plans!
Enhances Productivity : When employees aren’t worried about having enough money for retirement, they are more focused on their jobs!
Complements 401(k) Provider Communication : The (DOL) specifically identifies the distinction between the required plan “communication” by the Plan Provider and the “education” that is the fiduciary obligation of the employer. This workshop provides a solid foundation of investment knowledge designed to complement the Plan Provider’s communication.