Did you know that if your employees are experiencing high debt stress, they will spend 1 hour per day (or 13% of their workday) dealing with money issues?
We’re not sure about you, but for most employers that’s a lot. If you add it up, that equates to 33 days a year in lost productivity! And it’s a problem that is all too common in our every day lives.
People with high debt stress are also significantly more susceptible to health problems, like severe anxiety, depression, migraines, ulcers or heart attacks, than people with low levels of debt stress.
For both employer and employee this can create a landslide of issues that are often only noticed when the problem has escalated.
Imagine what could happen for your business (and the people in it) if you were able to help alleviate some of these issues?
87% of employees WANT financial education
That’s a big opportunity to make a difference and for employers, having a ‘financially healthy’ employee can save you around $2,000 a year.
Not surprisingly, the same studies have shown that employees #1 preference is to do their financial education during work hours (with #2 being during the lunch break, and #3 at home on their own time).
How can Cole Murray help?
Everyone’s needs and financial life journey are different. That’s why our solution will be unique to you and your organisation.
As a start, we can come to your workplace and meet with your employees to discuss their financial needs. This could be on an individual or group basis.
Some options that may be of interest include:
- KiwiSaver “Get Your Bearings” sessions
- Financial Planning reviews (creating a plan for life)
- Debt management
- Wealth generation & investing tips
- Personal & business risk assessments (how much are you walking the tightrope)
- Group health or life insurance schemes (usually for larger organisations)
These programs will vary in depth and content depending on your needs. Shorter entry-level sessions are usually free and will only cost you a little bit of time.
By showing your employees you care about their financial health, you are also:
- improving productivity (and your bottom line)
- creating an environment where employees are more engaged
- helping to retain good people, and be an employer of choice
Get in touch today, and get on the road to financially empowered employees. We can discuss the options that will work for you and your business.
We’ll look forward to hearing from you!
Sources: Employee Financial Education Division – Financial Education in the Workplace Survey (Dec. 2011). Employee Financial Education Division – Whitepaper: Increase Profitability Through Employee Financial Literacy – Restore Productivity and Regain Organizational Commitment Through Employee Financial Education. Proposal to the Federal Task Force on Financial Literacy: “Educating Employers on the Value of Educating Employees on Financial Literacy”
Photo by Jud Mackrill on Unsplash
