An Employee Education Program For Limited Resource Employees: A Win-win Situation Dr. C. L. Wayne Moore, University of Missouri & Dr. Dena Wise, University of Tennessee

Education is the single highest determinant of an individual’s level of personal development. Persons identified in lower socio-economic levels generally experience the greatest challenges in exercising various life management skills. Without EEPs, there will be increasingly serious implications for the working poor including those who were on welfare. Why have Employee Education Programs? The return on investment for businesses who have EAPs ranges from four to sixteen dollars on each dollar spent. Background

Background cont’d Businesses are interested in: Reducing employee Absenteeism Reducing employee Absenteeism Maximizing the employee retention rate Maximizing the employee retention rate Increasing employees’ job quality and overall productivity levels Increasing employees’ job quality and overall productivity levels

Conceptual Model Demographics Individuals and Members of Household age gender education marital status number and ages of children number and ages of all adults 18 years > Needs assessment & Pre/post Intervention Evaluations for: personal financial management parenting skills nutrition child care issues interpersonal skills Attitudes/Behaviors

Conceptual Model (cont’d) Attitudes/Behaviors Objective Wellness Indicators: Personal Financial Management Saving money monthly Developing and/or using a monthly spending plan Developed money goals Subjective Wellness Indicators: Perceived level of wellness and satisfaction in financial management

Conceptual Model (cont’d) Work Outcomes: Employer Provided Pre-Post Workshop Productivity Levels Absenteeism Health-care costs Retention/Turnover Job quality/productivity Safety record Work Work Outcomes: Employee Provided Pre-Post Workshop Productivity Levels Presenteeism Work time spent on component concerns Health status Commitment to job

Return-on-investment Model (used with permission from NIPFEE) Cost of Workplace Education DirectIndirect MaterialsPreparation LaborTravel TimeIncentives Employees’ timeProgram Assessment for attending w/shops Example: Costs = $110,000

Return-on-investment Model (used with permission from NIPFEE) Work Outcomes Employer Provided Absenteeism Health care costs Retention/turnover Job quality and Productivity Employee Provided Presenteeism Work time spent on financial management and other component concerns Commitment to job/organizational goals Health status Benefits of work outcomes = $330,000

Return-on-investment Model (used with permission from NIPFEE) Return-on-Investment of Workplace Financial Education ROI = [(330, ,000) /110,000] X 100 = 200% Example: Costs = $110,000 Benefits of work outcomes = $330,000 B/C (benefit/cost) ratio BCR 330,000/110,000 = 3

In Your Handout EEP Needs Assessment Form Employee Provided Work Outcome Sheet EEP Promotional Sheets EEP Format Outline showing program process