3 Tips for Implementing a Financial Education Program

financial education for employeeesFor many workers, their understanding of corporate finance doesn’t extend beyond the numbers on their paycheck. Learning all of the intricacies behind the numbers such as  pension plans, savings, and other long term financial solutions isn’t always easy. Fortunately, employers can help make financial planning for the future easier for their employees with financial education programs. Here’s what you need to know when implementing an education program at work:

  1. Before starting your financial education program, you should set clear goals and expectations for yourself and your employees. What do you want your employees to gain from this program? A better understanding of their retirement plan options and their healthcare expenses? Once you establish specific goals, it’ll be easier to measure the success of your program.
  2. Design your education program around your audience. If many of your employees are young, your approach will be different than if they were older. Older employees are more likely to be interested in their healthcare options. When people are young, they don’t usually make long-term financial planning a priority because healthcare problems and retirement seem a long way off for them. So when designing your program, make sure you address the needs and concerns of your demographic.
  3. Establish a time and place for your education program that works for everyone. After working so hard to prepare this financial education program, the last thing you want is for no one to attend. It may take more than one session to accomplish all of the goals you established in the beginning, so make sure you schedule the sessions appropriately. If your employees work remotely or have to travel frequently for their jobs, you should consider teleconferencing or even preparing informational videos for them to watch at their convenience.

There are many benefits to hosting a financial education program at your business. When all of your employees are up-to-date on the latest information concerning their financial well-being, it leaves more time for them to focus on work. When employees are stressed about finances, it affects their work performance.

With an education program, you can eliminate stress and improve productivity among your workers. You can also help them understand the true cost of their healthcare options, which will encourage them to maintain healthy lifestyles and take preventative healthcare suggestions seriously.

If you have any questions about healthcare expenses and education for your employees, feel free to contact us.

Catholic Benefits Trust