Workforce ASSET Partnership 2015
Achieving Sustainable Solutions for Employees Together
Research shows that employee health and personal finances are correlated. A recent SHRM survey on employee financial wellness reported that 70% of HR professionals indicate that personal financial challenges have a significant impact on overall employee performance. A potentially alarming finding was that 62% of HR professionals agreed or strongly agreed that employees were more likely to request a defined contribution plan loan in the past 12 months compared with previous years, and 44% agreed or strongly agreed that employees have been more likely to request a defined contribution savings plan hardship withdrawal.
According to SHRM, "given these findings, it is pertinent that organizations offer some type of financial education/counseling program to their employees."
April is National Financial Literacy Month
The Dallas and Fort Worth area United Way organizations have collaborated with the Federal Reserve Bank, FDIC and other great partners on a community project to deliver important awareness and financial education to families.
As part of a SHRM chapter initiative, Mid-Cities HR Association is partnering with this community effort by leading the initiative in the workplace to provide free financial education for employees that will be credited to the project.
We are recruiting HR professionals to take the pledge to improve employee financial wellness and assist us in scheduling employer hosted site venues during the month of April. Experienced volunteers will conduct typical lunch and learn formatted classes using approved non promotional materials related to various topics such as budgeting, credit reporting as well as college savings. There is no cost or obligation to the employer. Participating employers will receive exposure and recognition for their generous support of this worthwhile project.
Did you know?
Developing a financial wellness program within you company could qualify in leadership, employee relationship and navigation competencies within the new SHRM (BoCK).
Be a part of a great project that will surely benefit your company employees.
Class dates are now being scheduled.
For more details on this DFW area wide project, please contact Committee Chair Bill Langley or Kathryn Mitchell at 817 368-0564.
Below are helpful links regarding recent research on Workplace Financial Wellness.
Company Sponsorship opportunities for the United Way Financial Fitness Initiative are available at the direct link below.
Mid-Cities Human Resource Association