Employer Financial Wellness Programs

Money isn't just about the amount you earn or spend each month - it also has mental health consequences that can affect productivity at work and beyond. That’s why employer financial wellness programs are so important. They are designed to empower employees to achieve greater clarity around their finances - and create a sense of balance between work and life outside the office.

So how would you, as an employer, fit this in between the day-to-day requirements of managing a business?

Well, this is where we can help. We offer company financial wellness programs to help set your employees up for success both in and outside of the workplace.

Set your employees up for success

What is Corporate Financial Wellness?

Financial wellness is a holistic approach to managing one’s finances. It's not just about the money you make, but also how you use it and how it affects other areas of your life.

Corporate financial wellness programs help employees with debt management, credit scores, and overall financial health. Our comprehensive program addresses all aspects of personal finance, including goals for savings and retirement; budgeting for needs versus wants; understanding insurance options, and providing employees education on money management.

What is a Company Financial Wellness Program?

A company financial wellness program is an initiative designed to educate employees on how to manage their finances, build savings, make smart decisions about spending and borrowing money, and achieve a reasonable level of comfort with their overall financial well-being.

As an employer, you can play an important role in helping your employees develop a plan that works for them and their families. Financial Mosaic’s program is designed to help employees overcome financial stress and become more financially literate.

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What is financial literacy and why is it important?

Financial literacy is defined as the ability to make informed financial decisions. It’s the knowledge that allows us to understand and use financial information in the world around us. Those who are financially literate can make sound financial decisions when faced with important choices about money. We can help employees become more financially literate by providing them with resources that empower them to understand their finances better so they can make sound financial decisions in their personal lives and plan for retirement with confidence.

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The benefits of financial wellness for employers

We know just how a financial wellness solution can benefit the daily lives of your employees, but how exactly does it benefit you as an employer? Here are some of the major benefits that you can expect:

Your employees know you care Your employees know you care

When your employees know that you care, studies show 1 that they are far more motivated, productive, and feel more loyal to the company they work for. They are also far more likely to refer others to the company because they feel like they are part of a company that cares about each other and not just about the bottom line.

When we think about it this way, employer financial wellness programs aren't just a good idea - they're an investment in your future growth and success!

Greater Employee productivity Greater Employee productivity

People who are financially healthy tend to be more productive 2 and engaged in their work, have better relationships with colleagues and customers, and have higher performance ratings from supervisors and managers.

Improved recruitment Improved recruitment

In addition to improving employee engagement, corporate financial wellness programs can help with recruitment. Job seekers are searching for the best compensation packages and benefits, but they’re also looking for employers committed to helping them achieve their personal goals. Financial wellness benefits demonstrate that an employer cares about its employees as people - not just as workers.

Increased employee retention Increased employee retention

Employee retention is a top priority for any company, as it ensures that your employees are motivated to do their best work and are more likely to stay and not be tempted by an offer from another employer. Financial wellness programs can help foster this stability and security by giving employees an outlet for their concerns.

Decreased absenteeism Decreased absenteeism

Financial stress is not always just a mental burden; it has real physical effects on our bodies too. Excessive worry about money can lead to depression, anxiety, high blood pressure, and other chronic health problems.

When you implement a corporate financial wellness program that helps employees manage stress levels and improve motivation - all while reducing the amount of time they spend away from work - you create an environment where people feel supported by their employer. This makes them more willing to go above and beyond for your company every day.

Increased Savings Increased Savings

Recruitment, absenteeism, and mistakes caused by distractions are a major cost to companies every year. Although not all of it can be attributed only to the financial stress experienced by employees, it is the root cause more often than one might think. By getting to the root of the employee financial stress problem, so many unnecessarily wasted hours and dollars can be saved.

1. Source, 2. Source

Ready to reap all these benefits? Contact us

Our Services

Our company financial wellness program is designed to help employees better manage their finances, improve their credit scores, and reduce financial stress. The features of our service include:

Comprehensive Personal Financial Planning

Comprehensive Personal Financial Planning

Our comprehensive personal financial planning services help them set goals for themselves with a focus on retirement savings and overall long-term success. We also help them develop strategies for paying down debt, saving up an emergency fund, and building and diversifying their investment portfolios.

Personal Risk Profile

We provide your employees with a personal risk profile, which is a simple way for employees to identify their risk tolerance, risk capacity, and risk requirements.

The first step in creating a personal risk profile is understanding their current financial situation and what their goals are for the future, because these two factors have a direct impact on how much risk they are willing to take on.

Personal Risk Profile
Investment Risk Analysis

Investment Risk Analysis

An investment risk analysis is a way to evaluate the risk of an investment and determine whether it is appropriate for their portfolio. It can even help them determine whether an investment is appropriate for their risk tolerance level.

Investment Advice

Our financial advisors recommend the right investments for their needs and explain how their investments align with their risk tolerance. We’ll also provide recommendations on how to invest to meet their financial goals.

Investment Advice
Ongoing Financial Education Programs
Ongoing Financial Education Programs

Financial education is key to effective financial wellness, and it’s a cornerstone of our program. Our goal is to offer employees an additional ongoing financial education program so they can make informed decisions about their finances. This is why we provide ongoing resources for financial education, including our live online workshops, blogs, and periodic events where we discuss the latest tips, tricks, and trends in investing and managing money.

Online Dashboard

Employees will be given access to their personalized plan and profile through their own Financial Mosaic online dashboard. This customized dashboard allows them to see key elements of their plan, for example:

  • How much money they are expected to have for retirement
  • How major financial decisions could impact their financial future
  • Whether or not they are on track to meet their saving goals

The dashboard also includes a side-by-side presentation of their personal risk profile compared to their investments’ risk profile. This section provides specific, tailored investment advice and resources for implementing the recommendations.

Online Dashboard
Annual Updates
Annual Updates

We provide employees with annual updates on their financial plans. This helps ensure that they stay on track towards their goals, and it gives them an opportunity to discuss their progress with us if something has changed in the last year.

Questions and Periodic Updates

A financial coach will contact each of your signed-up employees to see how things are going. We'll answer any questions and provide periodic updates on their progress. If there's anything we can do to help, we're only a call or email away!

Questions and Periodic Updates

Give your employees and your business the best shot at a successful financial future with our employer financial wellness program.

Schedule a consultation with our experts