How Great Companies Deliver the Best Financial Wellness Program
We often compare the process of getting in shape financially with the steps you take to get in shape physically. The same parallels hold when you launch a financial wellness program to help your employees better manage their money.
Participation is the first goal—like joining a gym. Once you’re signed up, you have to decide what exercises to do, when to do them, and how often to work out. That’s the same as choosing the right topics and delivery methods for your company’s financial wellness program.
Finding the Right Focus
Just as anyone resolved to get fit would carefully choose which exercises to do and how often, you must offer your employees the best financial wellness topics—ones that are focused on what they’re actually facing daily. Sadly, many or most of the employees you lead are in a desperate financial situation due to debt and a lack of adequate savings.
Most companies focus on retirement planning, which is a worthy topic. But broke people simply don’t invest in retirement. Everyone knows how important it is to save for retirement, just as we all know we ought to exercise and eat right. But many people stop short of lasting change in either area because of fear. That’s why inspiration is key to a successful program.
If you want to get employees moving in the right direction with their money, you need a fun and informative program that inspires them to feel hopeful about the future and motivates them to change the core money behaviors hampering their progress today.
Inspiring Financial Wellness With Flexibility and Fun
What really helps people straighten out their money is a program that meets them right where they are—often facing a lot of debt, confused about budgeting, or longing for guidance about the right steps to take.
Privacy matters when dealing with money. When you’re already struggling with the stress of money trouble, you don’t want to make it worse through extra feelings of vulnerability. And workers aren’t exactly thrilled with the idea of talking to colleagues about their money in a lunch-and-learn format.
And though privacy is a priority, many employees are just as interested in the freedom to share the benefits of financial wellness with their family. Your employees will appreciate a program that allows them to share access to your company’s financial wellness resources with their spouses.
Imagine a program that features engaging content and a compelling video format. As the popularity of group presentations fades, an online approach is a great option because it lets employees engage with their financial wellness programs anytime, anywhere. That means more flexibility, privacy and scalability.
Financial wellness is no more mysterious than physical fitness. Both require people to begin with a willingness to change, both depend on taking the right steps, and both are often delayed by fear. To deliver lasting change for your employees with their money, inspire them. The right program will inspire their hope, show them the right steps to take, and walk with them all the way to a feeling of confidence in the future.