Today, employers everywhere are looking for ways to ensure that they are offering enough value to retain their top employees. One way that they can do that outside of the realm of bonuses, raises, etc., is to help their employees make smarter decisions with their own finances.
There are a number of benefits to doing that. This includes:
- Raising satisfaction and trust among employees
- Reducing stress and distractions that are often caused by finances
- Improving employee morale and knowledge
Here are a few practical st that employers can offer valuable financial advice to their employees.
Host a Workshop/Lunch-and-Learn inside your office
Invite your employees to gather for a workshop that may take place during the work-week, perhaps at the lunch hour. It doesn’t have to be long — perhaps 30 minutes max. Choose topics that may effect specific groups of employees, including setting and maintaining a personal budget, estate planning, understanding retirement savings options, the basics of investing.
To keep employees happy and engaged, provide a light meal that they consume before they head back to their desk.
Provide information from outside experts
While employees may greatly appreciate your interest in their financial well-being, they may also tend to respect the advice of outside consultants. This may particularly be true if you have not previously shared information on financial-related topics in the past.
You can align yourself with expert opinions by sharing blog posts, newsletter articles, or webinar information from others in the financial world.
Provide one-on-one advice sessions
While some employees may agree to attend a workshop-type session with co-workers, they may be very hesitant to ask financial questions in front of others. By offering one-on-one counseling sessions, you may be able to truly help answer some of your employee’s very important questions.
By taking the time to answer questions about subjects such as 401(k) contributions in these private sessions, you will often find that there is an overall positive impact on your entire benefits program.