Are you aware that a sizable number of your employees are struggling with their own personal financial matters during work hours? Your employees carry the weight of their personal worlds when they walk through your door every day. One of the things they’re particularly worried about is money. Research shows that 37% of employees spend on average three hours per day thinking about or dealing with issues related to their personal finances with a negative effect on their health, performance and productivity. The reality is that your employees’ financial well-being affects your company’s output and ultimately the bottom line.
(Source: PWC 2015 Employee Wellness Survey; Sanlam 2015 Benchmark Survey; SHRM; Metlife Study of Financial Wellness.)
Poor financial well being can occur across all employee segments regardless of age, occupation or income level. The good news is that many employees are receptive to employer support and are interested in receiving guidance about financial issues.
It’s important to adopt an integrated approach when providing employees with support for financial decisions, being aware of the behavioural factors that may influence their decision-making process, which will differ from employee to employee.
Over the years we have realised the value of the experiential learning methodology and have integrated this methodology in our training and capacity-building products. John Dewey, the Father of Experiential Education, explains that experiential learning best takes place when a person involved in an activity:
- looks back and evaluates it
- determines what was useful or important to remember
- uses this information to perform another activity
We believe a sustainable employee wellbeing strategy is not a luxury, it’s a business imperative. Our Money Matters programme incorporates all these theories and is aimed at empowering your employees to take the first step toward financial freedom.
Contact Sharon Nieuwoudt on 012 940 63 00 for our unique approach to Money Matters.