clearpointccs.org financial wellness for your employees
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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.
ClearPointCCS.org
Financial Wellness
• Today, more than ever, a business’ success depends on the personal development and success of its team members.
ClearPointCCS.org
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
ClearPointCCS.org
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)
ClearPointCCS.org
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.
ClearPointCCS.org
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.
ClearPointCCS.org
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]