July 19, 2017

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FSR Releases Workplace Financial Wellness Resource Guide

Financial wellness at work is increasingly important both to employers and to employees. A financially capable workforce is more satisfied, engaged, and productive. The resource guide provides steps to help employers implement financial education programs at the workplace.

FSR Releases Workplace Financial Wellness Resource Guide
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FSR Releases Workplace Financial Wellness Resource Guide

Eight-step program designed in collaboration with CFPB

 

WASHINGTON – The Financial Services Roundtable (FSR) today released a workplace financial wellness program resource guide, designed in collaboration with the Consumer Financial Protection Bureau (CFPB), to help employers offer financial wellness solutions in the workplace.

“This resource guide will better help employers advance financial literacy and offer needed financial wellness solutions to more Americans,” said FSR’s Vice President of Corporate Social Responsibility Judy Chapa.

“Financial wellness at work is increasingly important both to employers and to employees,” said CFPB’s Associate Director Gail Hillebrand. “A financially capable workforce is more satisfied, engaged, and productive. The resource guide provides steps to help employers implement financial education programs at the workplace.”

As noted in the resource guide, “work is where many employees in America make critical decisions about how to allocate their wages to current needs, savings, insurance options, investment opportunities, and long-term goals. These decisions made without the proper knowledge can have an immediate negative effect on job performance and a life-long impact on the employee’s financial well-being. Because of the complexity and changing nature of decisions employees have to make regarding benefits, it makes sense that employers provide employees with educational programs, tools, and materials that help them make better financial decisions based on their needs and circumstances.”

The eight steps to launch a workplace financial wellness program include:

  1. Stay focused on your HR strategy
  2. Identify internal challenges and concerns
  3. Understand your unique workforce
  4. Decide which financial topics to highlight
  5. Leverage the benefits you already offer
  6. Expand your offerings with more resources
  7. Use existing or new channels to deliver resources
  8. Establish metrics for success

 

 

 

To read the entire resource guide, click here.

 

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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