engage2015: financial wellness: solving for increased productivity & engagement - joe larocque &...
TRANSCRIPT
- 1. Financial Wellness Solving for Increased Productivity & Engagement
- 2. Poll Question #1 EMERGENCY SAVINGS I have enough cash savings to cover at least 3 months of living expenses (stress, emergency savings) Y/N
- 3. Poll Question #2 ESTATE PLANNING I have a will and/or living trust. Y/N
- 4. 50% Employees who report emergency savings as their top concern 40% PwC Employee Financial Wellness Survey, 2014 Employees who report having a will How the Group Compares
- 5. Traits Associated with High Levels of Financial Well-Being CONTROL CUSHION They feel they have over day-to-day finances They feel they have enough to absorb a financial shock GOALSThey are actively working towards FREEDOMThey have the financial to enjoy life Consumer Financial Protection Bureau
- 6. Financial Wellness and Employee Engagement 64% Americans reporting money as #1 stressor (American Psychological Association) STRESS HEALTHDISTRACTION 1 in 4 employees report financial distractions @ work (PricewaterhouseCoopers) Financial concerns prevent living a healthy lifestyle (American Psychological Association) 32%
- 7. Employers Answering the Call SATISFIED EMPLOYEES LOYAL EMPLOYEES ENGAGED EMPLOYEES PRODUCTIVE EMPLOYEES Employers believe workplace financial solutions lead to more 91% 75% 85% 79% Companies that offer financial wellness could save $3 for each dollar they spend (Consumer Financial Protection Bureau report) 90%of large firms surveyed believe financial solutions will be a standard element of a benefits package in the next 10 years (Bank of America 2015 Workplace Benefits Report)
- 8. POLL QUESTION Do you have a financial wellness program in place for your employees? A)Yes B) No C) Considering it
- 9. Financial Wellness Engagement ACT ENGAGEMENT MONITORING IMPROVEMENT ASSESSMENTS & REPORTING FINANCIAL WELLNESS EDUCATION PROVIDER FULFILLMENT
- 10. Assess Address the Broad Financial Picture Mind the Time Immediate Feedback Personalized Actions
- 11. Learn
- 12. Learn
- 13. Act Integrate Total Rewards Objectivity is critical (follow the money) Clear separation when it comes to advice
- 14. Questions