Each year the full-time financial education team at this company provides confidential financial counseling to more than 3,000 unique employees and facilitates 300 financial education seminars in corporate classrooms to over 10,000 attendees. The company manages an interactive intranet website providing self-service financial management tools and information used by employees.
The company offers a 529-plan college savings program and an employee loan program through partnership relationships; the loan program saves employees money by providing loans at reasonable rates.
Results include improved workplace productivity, increased employee morale, and increased company loyalty while reducing absenteeism, turnover, workplace distractions, and operational risk across the company. They make a small amount of money for the company through the loan program. The portfolio is profitable enough to cover all financial education initiatives and employment and operating expenses for the financial education staff, and it contributes hundreds of thousands of dollars each year to the company’s bottom line. Including all of the different benefits of the financial education program, the ROI is 3:1. The financial program is a winner!
“We do it all for the sake of providing resources and assistance so that our employees will be able to operate more productively at work because of being less encumbered by financial stress. Additionally, we know that employees not suffering from financial stress are less likely to commit employee theft or fraud, and more likely to remain with the company longer.” — Employer