Financial education in the workplace


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Financial education in the workplace

  1. 1. Financial concerns may be a personal matter but they directly affect the workplace. Research shows that 25 percent of employees have financial problems severe enough tohave a negative impact on their productivity. A financially stressed employee spends an average of 20 hours per month of work time on his or her personal financial problems.
  2. 2. Stressed and distracted employees cost you moneyevery day Studies show that, onaverage, $463.44 per month is wasted innonproductive time per employee becauseof financial stress. There has always been a needfor personal financial literacy, butwith rapid fluctuations in the economy, changes inthe financial services industry andshifts in employee benefit programs, employeesare more vunerable to severefinancial challenges and stress than ever before.
  3. 3.  Up to 80 of financially stressed workers spend time at their jobs dealing with or worrying about money issues One in four American workers are seriously distressed about their personal financial situation Personal financial problems are the number one cause of stress in the workplace today Workers with money woes have worse health, spend more time at work on the issue and also are absent more frequently Workers with high stress levels are 2.6 times more likely to be absent five or more days per year
  4. 4. Unlike financial advisors, who primarily focus onadvising their clients about specific financialproducts they sell- like mutual funds or lifeinsurance -Money Mastery teaches a proven personalfinancial literacy program that is based on 10Principles that allow people to get in immediatecontrol of their spending, debt, savings, andtaxation. It is the only comprehensive financialmanagement system in the industry today thathelps individuals and families effectivelymanage every aspect of their financial lives.
  5. 5. Research clearly shows that a well-executed workplace financialeducation program benefits employers in several ways: Increase employee productivity Reduce absenteeism Decrease direct employer costs related to wage garnishments, bankruptcies, payroll deductions for child support and alimony, and administrative costs for borrowing against retirement plans Increase contributions to the company 401(k) program Increase employees loyalty to the company Reduce employee stress-related illnesses and mental disorders
  6. 6. Employees who participate in workplacefinancial education programs have theopportunity to: Change behaviors that negatively affect job performance Build assets and reduce debt Gain appreciation for and participate at a higher level in employer- provided benefits Increase their ability to retire early or on time
  7. 7. Money Mastery provides a variety of workplacepersonal financial education training courses that areproven to improve employee performance, morale,loyalty and participation in employer-sponsoredBenefit programs. We offer a full range of structuredand custom programs that will fit your needs andbudget. Call us for program details, topics covered,materials provided and pricing options.
  8. 8.  "Even a small increase in an employees financial security can add significantly  “For the employer, research studies to an employer‘s bottom line." have shown that employees who are - DI: Susan Jenkins, Idaho State financially healthy are more University productive. They are absent less "Dont give employees a raise; often, spend less instead, give them access to quality time at the workplace dealing with financial financial crises, and earn higher job information, education and advice. performance ratings." Employers can expect $450 in - Governor Edward M. Gramlich, positive job Financial Literacy and Education outcomes from each employee who Commission, Washington, D.C. slightly increases his or her financial behaviors and financial well-being." - Dr. E Tomas Garman, Professor Emeritus, Virginia Tech University