ClearPointCCS.org Financial Wellness For your Employees.

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Presentation transcript:

ClearPointCCS.org Financial Wellness For your Employees

ClearPointCCS.org Financial Wellness One in 4 workers are distressed and dissatisfied with their personal financial situation.

ClearPointCCS.org Financial Wellness An American Psychological Association survey found that most Americans are stressed and anxious about their financial future.

ClearPointCCS.org Financial Wellness Today, more than ever, a business’ success depends on the personal development and success of its team members.

ClearPointCCS.org Financial Wellness Red Flags employers should look for within the workplace to see if employees are struggling: Poor Health (headaches-lack of sleep-feeling sick) Poor job performance (can’t concentrate) Excessive alcohol use Abuser of prescription drugs Coming in late to work frequently Negative job behavior High absenteeism

ClearPointCCS.org Financial Wellness Taking out loans against retirement plans Wage garnishments through employer for creditors/child support Depression/anxiety High turnover rate Employees asking for payday advances Poor diet Life events (divorce, lawsuits, natural disasters, medical bills, illness in family, supporting other family members for medical needs and finances)

ClearPointCCS.org Financial Wellness Recommendations for the financially distressed : Follow the wise saying “to spend less than you earn”. Make and implement plans to prevent poor money management and reduce financial distress. Determine the best options to relieve financial distress. Get help through the workplace.

ClearPointCCS.org Financial Wellness How can employers assist employees overcome financial challenges? Offer financial literacy education workshops, webinars and personalized web sites. Promote health wellness to relieve stress and job anxiety. Offer education on investing in 401K plans and manage investments.

ClearPointCCS.org Financial Wellness Offer EAP services. Employers should help maintain a positive work climate through frequent communication. Offer an event day offsite or onsite to promote financial wellness and health wellness together. Encourage employees to seek credit counseling with an approved NFCC agency.

ClearPointCCS.org Financial Wellness Free Credit Reports and Free Credit Scores

ClearPointCCS.org Financial Wellness 1 free credit report every 12 months from all 3 credit bureau agencies: Experian Equifax Transunion

ClearPointCCS.org Financial Wellness Request by mail form

ClearPointCCS.org Financial Wellness Free Credit Score Websites (Transunion) (Equifax) (Experian)

ClearPointCCS.org Financial Wellness Group Sessions (5-6 people) What has been your # 1 challenge dealing with employees struggling with financial challenges? What resolution did you come up with?

ClearPointCCS.org Financial Wellness Personal finance is 80% behavior and only 20% head knowledge.

ClearPointCCS.org Financial Wellness Financial wellness and health wellness are added benefits a company can offer to show their workers that they really do care about their well-being.

ClearPointCCS.org Financial Wellness Sandee Rains Financial Education Specialist ClearPoint Credit Counseling Solutions ext