August 7, 2011 Tessa Duckett
The third part of our well-being discussion encompasses financial well-being. When we are financially secure, not millionaires or billionaires, but secure and content with what we have, we are more productive and happy. Our lives are more enriched, and we are more susceptible to change
Finance, ugh! Who wants to even talk about that with the way the economy is? But think about our teams, if we, as executives, are struggling, what about our hourly entry-level employees? How can we help them?
Raises are far and few between, but what else can we do? What other perks can we offer? Does your company offer a 401K? Do all your employees take advantage of it? Maybe those that don’t need to be educated on the 401K and what your company match is. Some don’t even know how to use the 401K, the investments are daunting. Do you offer a service to help the employees to understand the benefits? There are so many teaching, connecting moments here.
My company has offered budget workshops, where we have experts come in and speak with employees about budgeting and investing, saving for college and for retirement. There are many services available. It’s still about connecting to your teams to make them feel valued and ease the stress of their financial issues.
Discussing finances in hard economic times is challenging, but this is the time that your team needs you. This is where they can benefit and stay connected to their employer and feel secure about their finances.