Employer Benefits
By helping employees increase their personal financial wellness, employers benefit tremendously through:
-
Increased productivity and profitability
-
Better employee-employer relations, higher morale, increased retention rates, lower fringe benefit costs, lower transaction costs, and increased output
-
Improvements in absenctism, tardiness, leaving early, mistakes, lack of job concentration, accidents, and job output
-
Higher morale = increased productivity = higher profits for the company
Running a financial literacy program can:
-
Make your workplace more attractive to employees
-
Improve commitment
-
Improve productivity by reducing employee stress about personal finances
-
Reduce the query load on human resources staff, and requests for pay advances, making people better able to manage their own finances
-
Improve employee understanding and use of company benefits
-
Improve employee understanding of financial constraints facing the organization
-
Support your mature aged worker strategy, helping people change their working commitments in a way that suits them and your company