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Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
Workplace financial education
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Workplace financial education

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  • 1. www.finerva.com | support@finerva.com | +91-9787-11-11-66 What if someone promised you—the employer—a plan to achieve the following…
  • 2. www.finerva.com | support@finerva.com | +91-9787-11-11-66 • Increased worker PRODUCTIVITY • REDUCED ABSENTEEISM • Fewer WORKPLACE ACCIDENTS
  • 3. www.finerva.com | support@finerva.com | +91-9787-11-11-66 • Improved satisfaction with COMPANY BENEFITS • Reduced HR & Admin COSTS •Reduced ATTRITION
  • 4. www.finerva.com | support@finerva.com | +91-9787-11-11-66 • Reduced PRESSURE to increase salaries • Increased MORALE • Work satisfaction and LOYALTY to employer
  • 5. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Most employers say… WOW!!! We simply call it the… Wonders of Workplace Financial Education
  • 6. www.finerva.com | support@finerva.com | +91-9787-11-11-66 The definition of workplace financial education that I would use is: to help employees develop skills to make informed choices and take action to improve their financial well-being. – William Arnone, Ernst & Young
  • 7. www.finerva.com | support@finerva.com | +91-9787-11-11-66 The Employer needs a workforce of financial independent people who want to work and choose to do so!
  • 8. www.finerva.com | support@finerva.com | +91-9787-11-11-66 So what does the employer do? • The Answer to more productive employees is not to give them more money. • The Answer is to increase both employee productivity and employer profitability by offering a comprehensive workplace financial education program.
  • 9. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Benefits of Workplace Financial education Improved productivity through lesser employee stress Giving employees access to financial education will help them overcome financial stress by better managing their personal finance, reducing credit card and loan debt and saving more money. Thus helping them concentrate better at work and add more value to the organization. Better productivity directly implies better bottom-line growth for the organisation.
  • 10. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Improve Retention -Reduce attrition Financial education can help your employees understand that little extra money alone cannot improve financial well-being. Once they realize this there will be lesser inclination to change jobs and also reduced pressure on your HR function for salary hikes.
  • 11. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Cut down on HR & Admin costs If your employees are well informed about financial decisions there will be lesser queries to your HR/Personnel/Accounts department for help on issues related to Taxation, Pay scale benefits etc. Thus these departments can focus better on their core competence.
  • 12. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Higher Employee Morale • Improved financial health produces greater concentration, creativity, more positive outlook towards life. As employees gain control of their financial life they become more competent on the job. Thus improving overall employee morale
  • 13. www.finerva.com | support@finerva.com | +91-9787-11-11-66
  • 14. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Attrition Causes and solutions A Financial Education Perspective
  • 15. www.finerva.com | support@finerva.com | +91-9787-11-11-66
  • 16. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Why is attrition high? •Don’t like the boss •Don’t like the work •Family based reasons
  • 17. www.finerva.com | support@finerva.com | +91-9787-11-11-66 The Prime Reason for Attrition Income not enough
  • 18. www.finerva.com | support@finerva.com | +91-9787-11-11-66 NASSCOM • Majority of job shifts in IT & ITES companies (~60%) are for 10 to 15% increase in salaries
  • 19. www.finerva.com | support@finerva.com | +91-9787-11-11-66 Monetary Benefits are NEVER ENOUGH • Increase salary • Increase incentives • Offer ESOPs
  • 20. www.finerva.com | support@finerva.com | +91-9787-11-11-66 What happens when employees are financially educated? •Informed decisions
  • 21. www.finerva.com | support@finerva.com | +91-9787-11-11-66 What happens when employees are financially educated? • Ability to avoid pushy sellers
  • 22. www.finerva.com | support@finerva.com | +91-9787-11-11-66 What happens when employees are financially educated? EMPOWERMENT
  • 23. www.finerva.com | support@finerva.com | +91-9787-11-11-66 What happens when employees are financially educated? Better understanding & appreciation of company benefits
  • 24. www.finerva.com | support@finerva.com | +91-9787-11-11-66 The smartest employers today are broadening their perspectives about financial education. A growing number of employers are offering comprehensive financial education. This emphasizes helping all workers make good decisions about personal finance. And for those who need it, smart employers also are helping workers with money problems learn to overcome the obstacles.
  • 25. www.finerva.com | support@finerva.com | +91-9787-11-11-66 You????
  • 26. www.finerva.com | support@finerva.com | +91-9787-11-11-66

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