ClearPointCCS.org Financial Wellness For your Employees.

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.

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Financial Wellness

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

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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

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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)

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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.

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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.

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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.

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Financial Wellness

Free Credit Reports and

Free Credit Scores

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Financial Wellness

1 free credit report every 12 months from all

3 credit bureau agencies: • Experian• Equifax• Transunion

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Financial Wellness

• www.annualcreditreport.com

• 877.322.8228

• Request by mail form

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Financial Wellness

Free Credit Score Websites

•www.creditkarma.com (Transunion)

•www.creditsesame.com (Equifax)

•www.quizzle.com (Experian)

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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?

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Financial Wellness

Personal finance is 80% behavior and only20% head knowledge.

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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 1.800.864.9481 ext. 0937 [email protected]