What’s the key to success for a financial wellness program? Behavior change. Many behavior change tactics used for physical wellness can also be implemented to increase a person’s financial health. Liz Davidson shares some strategies to increase employee engagement and truly create long-lasting financial behavior change.
How many bad decisions do employees make during limited decision periods? Is there a way to make this crazy period easier for both the workforce and the benefits team? Can “benefits planning” make life easier for everyone all year long?
Can employers help solve Americas’ retirement crisis? Most workers need guidance on how to retire with enough money to have a comfortable lifestyle. What are the key issues employers can address to boost employee savings? In this article, financial planner Michael Smith outlines six achievable steps employers can take to improve their workforces’ retirement preparedness level.
Are most workers prepared for retirement? Unfortunately, over 60% of employees have never put the effort into running a retirement projection, and 81% have made a self-assessment that they are not prepared for retirement, based on our 2015 research report on the State of U.S. Employee Retirement Preparedness. This is not only a bad situation for the employees. There is a cost to employers when pre-retirees come to work only because they can’t afford not to. There are different types of employees struggling with retirement issues – the unknowns, the under prepared and the under confident.
The majority of Americans are not saving enough and women – because they live longer and therefore have higher healthcare expenses – have further to go to get on track. How can employers help women employees close the gender gap in financial wellness? How can employers bridge the divide and motivate working women to save more?
Financial wellness programs have the power to revolutionize how millions of Americans manage their finances. What is financial wellness? How does it work? Financial Finesse CEO Liz Davidson explains the emerging financial wellness industry, and how these programs are helping companies save millions in healthcare costs while reducing financial stress and anxiety for employees.
No matter how much financial education you provide to your workforce, ultimately it is up to your employees themselves to alter their financial bad habits and focus on improving their financial well-being. It all starts with creating a culture of accountability, according to best-selling author Roger Connors. I was fortunate to pick up a free copy of his book Change the Culture, Change the Game a few months ago at the SHRM Annual Expo in Atlanta. Although some of you might disagree, one of the things I like most about attending these conferences is the ability to visit all the vendors’ booths, find out what’s new in the benefits arena, and best of all, collect the freebies and giveaways. At one of the booths, Roger Connors was autographing his latest book, where he outlines a breakthrough strategy for energizing your workforce and creating accountability for results. Continue reading “Can You Change Your Workforce Culture to Increase Their Financial Wellness?”
Congratulations to the most recent PSCA Signature Award Winners for 2011! The Profit Sharing/401(k) Council of America (PSCA) announced the winners of their Signature Awards at a special presentation at its 64th Annual National Conference at The Mirage in Las Vegas last month, to honor excellence in plan communication and education. This year, the Signature Award judges recognized 48 winners in 18 categories, based on how companies design, manage, and provide defined contribution communication and investment education to plan participants. Signature Award judges carefully review how effective the campaign was at achieving its goals and I’m proud to say that 3 employers that I have worked closely with over the past few years, were recognized as 2011 Signature Award Winners. Continue reading “What It Takes to Have a Winning Benefits Communications Plan for Your Employees”
