Workplace Financial Wellness Education

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"Thank you so much for you presentation on Financial Wellness to the Deer Valley Lodging staff. It was greatly beneficial to those who attended. The additional resources you left will also help our employees." ~ M. Sloan, Premier Resorts

"You did such a great job putting on these sessions to our employees." ~ J. Erksine, VA SLC Health Care System

The stress of a personal financial crisis can completely disrupt someone's life on and off the job. The leading factor for employees loss in productivity is distractions related to personal financial stress. According to a Society for Human Resource Management survey, 83% of HR professional said that personal financial problems have some or a large impact on the work performance of employees. Financially distressed employees spend an average of about 20 hours a month dealing with their financial problems (this equals about 30% of a 40-hour work week). Increased costs for basic necessities—food, fuel, health care, housing—are stretching families to the limit.

The economic and housing crisis is squeezing people at all income levels, resulting in unprecedented numbers of bankruptcies and foreclosures. By partnering with AAA Fair Credit Foundation, we can help your company boost employee engagement and profitability with financially educated employees.

When people are overextended with debt, they are much more likely to report health problems. The stress caused by overwhelming debt can also have a devastating impact on the well-being of children. Businesses that recognize that it's more expensive to ignore their employees' financial difficulties than to address them head-on have developed strategies to bring financial education and credit counseling/debt management, and other financial services to the workplace.

Topics We Cover Include:

• Goal Setting
• Budgeting
• Debt Elimination
• Cash Flow Management
• Saving Methods
• Emergency Cash

Proven Strategies & Measurable Outcomes

Our partner in providing workplace financial education is 8 Pillars. The 8 Pillars company is the leading expert in the implementation, communication, and measurement of workplace financial education programs. They help the best companies engage and retain a talented workforce by providing employees with real-world financial education in a fun and engaging format.

One of the main reasons we partner with 8 Pillars is that they have no ulterior motives behind their educational programs. Quality financial education is the only product they provide with no strings attached.

Benefits to Employers

Groups and employers benefit from a financially educated workforce in several ways. Research suggests that a well-executed workplace financial education program is likely to:

• Enhanced productivty
• Decreased absenteeism - increased presenteeism
• Decrease direct employer HR costs related to wage garnishments, bankruptcies, payroll deductions for child support and alimony, and administrative costs for borrowing against retirement plans
• Improved employee health and preventative care - lower health care costs
• Utilized benefits
• Increase participation in the company 401(k)
• Increased pay satisfaction and allegiance to company
• Reduce the incidence of employee theft

Benefits to Employees

• Change behaviors that negatively affect job performance
• Build assets, reduce debt, increase savings and financial wellness
• Gain appreciation for and participate at a higher level in employer-provided benefits
• Adequate Retirement Preparation
• Improved family and social relationships

Mitigate Your Financial Liabilities

Most employers, as sponsors of retirement, health and benefit plans, have the fiduciary responsibility to act in the best interests of their participants. This can add up to significant legal responsibilities. With sponsored education, these concerns can be mitgated.

Program Costs

Special program pricing is offered for Fair Credit customers and partners. Special reduced rates are available for non-profit organizations.

Getting Started

Let us help maximize performance and boost employee morale for your business. To find out more about Fair Credit's Workplace Financial Wellness program please contact us today at (801) 656-1600, complete the form above, or email us at education@faircredit.org. If you would like your employer to offer this benefit, please contact us and tell us the name and phone number of your HR or Benefits Manager and we’ll reach out to them to see if they would like to offer this critical benefit.