As a manager, looking out for the welfare of the team means being aware of the personal life issues that come up and distract or disorient staff. One of the most impactful issues is personal finances. Being the representative of the company can make this issue seem unapproachable - after all, if your company is directly responsible for someone's financial situation, you can end up feeling at fault, even if you have no direct ability to change their circumstances. However, avoiding the conversation isn't helpful for anyone either.

1. Financial Wellness - What Your Managers Need To Know
Miles Robinson Shelley Trout
With: Moderated by:
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3. 3
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4. About Miles Robinson
Miles Robinson has been building Software Security Solutions with Symantec Corporation for 18 years for both
consumers and enterprises. As Manager, Engineer and Artist, he focuses on the human element when building
solutions, using well selected, emotionally intelligent measurements to foster successful execution while building great
team culture. His understanding of product life cycles has led to his being a strong operational voice and someone
who can tie together vision and execution, knowing that the most important part of any project is maximizing what you
can get done with the assets you have. He also serves as Chief Strategy Officer for Adaptable Security, a non-profit
serving the cyber-security needs of local government and small businesses.
About Shelley Trout
Shelley went to UC Berkeley and majored in Anthropology & Archaeology. After working at the Center of Digital
Archaeology, she became fascinated with digital representations of personality and culture, and now leads Webinar
Production at Aggregage, providing some of the most interesting thought-leaders across a wide variety of industries with
a space to celebrate the diversity, depth, and experience of their professional cultures, personalities, and passions.

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Intro and Intention
Who am I?
• Managing Teams since 2007
• Engineers and Designers
• Building Cybersecurity Software
products
• Local and International teams
Why am I doing this?
• Mostly to say thank you
• I want to share the story
• Hopefully give an insight into
the application of theory
• Encourage conversation

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• Hypothetical amalgam of past
teams
• Mix of Designers and Engineers
• Middle Ground Compensation
• Brilliant people in demand
• Half in US and half in India
The Story Begins
The Situation
• Financial challenges due to
economic downturn
• No pay changes for most
employees
• Recent reduction of force
• No hiring, no promotions with
pay
The Team

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Obviously one is needed
• How can we demonstrate the
relationship of loyalty to staff?
• What impact is the situation going
to have?
• What tools do we have available?

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How can we demonstrate the relationship of loyalty to staff?
• Financial
• Awards and Recognition – Nice but conditional and event driven
• Bonuses and Stock payouts – Also nice but not easy to translate at
lower levels
• Non-financial
• Promotion without pay – Reasonable if salary is high end and
promotion earned, but a future cost.
• Preferential work or special projects – Great if their work can be
refocused, but potential reassignment.
• Other non-pay benefits – Really conditional and I may not have control
• Flex schedule or work from home for example is an option, but maybe not child
care

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What impact is the situation going to have?
• What we know
• The current pay levels are commensurate with industry averages
for region and business role
• Thank you HR!!!!!!
• Any financial plan needing a pay raise is going to be undone
• Any hardship that was expecting relief will not get it right now
• What we don’t know
• If there is any financial hardship
• If there is, if it is a problem for the company or a problem of
personal finance
• How to ask those questions without getting into hot water
• What limitations there are on that kind of conversation

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What tools do we have available?
• Validate the pay scale and know
where they stand
• Cultural understanding of how
money works.
• Training on financial planning
(nothing for personal, only
department budget)
• Looked for Financial benefits (found
special cases but nothing general)
• HR team for advice

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Let’s make it safe to talk frankly
about money!

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Two Tools in the Manager/Mentor tool box
Vulnerability

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Maslow Hierarchy of Needs
• Miles Interpretation
• Listen for clues
• Each one is different
Pay the bills
Risk language
Respected by work
Self Worth
It’s all good

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Let’s talk about MY budget
• Work into conversation naturally
• Use my budgeting experience as
reference point to other subjects
• Work prioritization
• Compromise and responsibility
• Be willing to discuss personal
finance practices, but not
investment strategies
• Share failures as well as successes
• LISTEN for the Maslow hints

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I would say it worked
• Inspired conversations around
finance.
• Seemed to be really desired, maybe
because it is not taught elsewhere?
• More impact on younger of age and
spirit.
• Needs a Positive/Negative analysis
SUCCESS

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• One on one discussion led to
further exploration
• Helped plan for new house
purchase
• Demonstrated benefits
distribution
• Explained US income taxes vs
India (and sent to accountant)
• Some shared their financial
situation
Results as a Team
• Went over budget planning as a
class
• Discussed regional differences
in financial plan needs
• Brought team together to work
on an idea strategy
• Opened up conversation about
the role money plays in culture
Results as Individuals

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• Overall trust and good will
between team and manager
• Clarity of cultural understanding
lead to stronger ties and
international communication
• Much better understanding of
the place each person is in
• Much better understanding of
importance of finance in each
person’s morale.
The Bad
• Full awareness of what money
said to some about their value
to the company
• Exposed to challenges that can
do nothing about
• When one shares their pain
with their boss there is a sense
that the boss will do something
about it.
• Legal issues were big concern.
The Good

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• Access to company approved
training
• On personal finance
• On legal risks/safe and unsafe
subjects
• On when to direct someone to
professionals
• On what professionals to use
• Managerial Advice
• Effective non-financial comp.
• Total compensation package sales
What I really wish I had

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• Company support benefits
• Financial planning
• Will planning
• Retirement planning
• Tax services
• Company Recommended
resources
• Professional referral
• Finance benefits like legal
What I really wish I had

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• Cultural awareness training
• Nation specific cultural training
around finance
• Understanding normal expenses
• India marriage traditions
• Tax differences
• Understanding benefit/pay
differences
• Food benefits
• Transportation
• Visa Considerations on Finance
What I really wish I had

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… for letting me share my story.
Thanks

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Q&A
Shelley Trout
With: Moderated by:
Agile and Management Consultant
Linkedin page: in/miles-robinson/
Email: scruminthedark@gmail.com
Miles Robinson
Editor, Aggregage
Linkedin page: in/shelleytrout/
Twitter ID: @hrposts
Email: shelley.trout@aggregage.com
Website: aggregage.com
www.humanresourcestoday.com/webinar-series/workplace-wellness