LearnLux Financial Wellbeing’s Post

🌟 Empowering Financial Wellness: From Struggle to Success 🌟 Meet Edwenna Ervin, who transformed her financial journey with the help of workplace benefits. Here are key takeaways and insights from her story: Key Takeaways: Ervin's journey from paycheck-to-paycheck living to financial stability highlights the importance of financial education and support for employees. Workplace benefits like the Employee Assistance Program (EAP) provided resources, counseling, and strategies for budgeting, managing money, and paying off debt. National Financial Literacy Month underscores the need for financial empowerment across all income levels and generations. Insights and Reflections: Financial literacy is crucial regardless of income level; understanding how to save and manage money is essential for financial security. Employers play a vital role in supporting employees' financial well-being through education, tools, and resources beyond traditional retirement benefits. While workplace benefits are beneficial, outreach and accessibility are key to reaching all employees, especially the most vulnerable ones. Ervin's journey showcases the transformative impact of financial education and workplace support. Let's continue the conversation on financial wellness and empowerment! 💼💰 #FinancialWellness #FinancialEmpowerment #FinancialEducation https://lnkd.in/g2xtCDfS

There’s never been a more important time to help your employees improve financial literacy, behaviors, and resilience than right now. More workers are under greater financial strain coupled with increased emotional and physical strain, all occurring concurrently in a tightening job market. Learn more in our newsletter. http://ms.spr.ly/6046YG8N4 #401k #employeewellness #financialwellness #retirementplan

Do you manage or work with #retirementplans? Do you care about #financialwellness? Then you might find the following insights from J.P. Morgan's 2023 Defined Contributiom Plan Sponsor Survey of interest (link in comments below): ⭐ Nearly 70% of employees believe that their employers have a reponsibility to help with financial wellness, and more than 90% feel that these programs are an important benefit for them 🌟 On the flip-side, 85% of employers by now feel a strong sense of responsibility for employee financial wellness ... 📛 ... and yet only 43% of employers are currently offering such a program, with another 28% considering to do so 🚀 Lastly, the top program goals include: 1) Help financial stability and security 2) Help employees for their retiremennt and future life events 3) Help financial literacy and education Financial wellness matters. To everyone. And Bento can help -- if you want to weave Life Events and age-based advice into your offering, then book a demo to learn more. Everyone wins when you lead with timely, personal and impacful #advice!

Financial literacy is one of the biggest holes in employee understanding and education. 40% of Americans have less than $1,000 in their bank account. How can employers help employees beyond the salary they are paid to improve their financial wellbeing? There are affordable ways to teach your employees about financial literacy. Ask us how! #NewDawnInBenefit #financialliteracy #employeebenefits #benefits

Financial literacy is crucial for employees of all ages, especially younger generations entering the workforce. From retirement planning to debt management, employers can make a real difference by offering comprehensive financial wellness programs. - By providing resources and support, organizations can empower employees to make informed decisions and build a secure financial future. - Let's work together on your benefits to promote financial literacy and well-being in the workplace! --- Kathy Gurchiek SHRM . . . #FinancialWellness #EmployeeEngagement #EmployeeBenefits #Benefits

www.boyenhaddin.com Financial Wellness Programs are initiatives implemented by Human Resources departments to support employees' financial health and well-being. These programs aim to provide resources, tools, and education to help employees manage their finances effectively, reduce financial stress, and improve their overall well-being. By offering services such as financial planning workshops, debt management assistance, retirement planning guidance, and access to financial advisors, organizations can help employees make informed decisions about their money and achieve greater financial stability. Ultimately, these programs can lead to increased employee engagement, productivity, and satisfaction in the workplace. #Boyenhaddin #FinancialWellness #HRInitiatives #EmployeeWellBeing #FinancialHealth #FinancialEducation #DebtManagement #RetirementPlanning #EmployeeEngagement #Productivity #WorkplaceSatisfaction

Want to support employees with their financial wellbeing? Here is a breakdown of each generation in the workplace, and how you can best help them. #financialwellness https://hubs.ly/Q02wCC650

Thank you to everyone who took part in my poll. I asked those who are working beyond retirement their reasons for remaining in the workplace. Here's what the survey revealed:   ·        67% came back to work due to Financial Pressures ·        33% returned to work to pursue a passion These insights shed light on the driving factors influencing individuals to UN-retire. It comes as no surprise that the cost of living crisis is creating a significant factor in the decision for 2/3rds to return to the workplace. So what initiatives can employers implement to encourage workers to delay retirement and continue working? For both employers and employees, it would create a win-win situation. What's your take on these findings? Share your thoughts below! 👇 #PollResults #UnretirementSurvey

A recent study revealed a troubling reality - 88% of employees struggle to afford basic living expenses. More than half are extremely worried about making ends meet. This hit me hard! This financial strain isn't just a number - it's impacting everyone. The number of people living paycheck to paycheck is climbing, and feeling financially worse off compared to last year has more than doubled! This is taking a serious toll - employees are experiencing higher stress, anxiety, and even missing medical appointments due to money concerns. Here's the shocker: • Only 23% of employers prioritize financial wellness programs. • While a whopping 66% of employees crave support in this area. There's a massive disconnect! So, can we ignore this any longer? Our workforce is the backbone of our businesses, and their well-being should be a top priority. Retirement readiness is also declining, with the gap between what people think they should save and what they actually save widening significantly. This could lead to a future financial crisis for many. What are your thoughts on financial wellness in the workplace? How can we bridge this gap and ensure our employees are financially secure? #FinancialWellness #EmployeeWellbeing #FinancialLiteracy #WorkplaceWellness #FinancialFreedom

When your team has the tools to manage financial stress, whether it’s understanding their super or planning for retirement, they feel more secure and confident. This, in turn, can reduce anxiety, improve mental health, and boost productivity. With Otivo, you’re not just offering financial advice—you’re fostering a workplace that cares for its people, leading to stronger engagement, happier employees, and better retention. It’s a win for everyone! → Discover how we can help your teams be better off here: https://lnkd.in/gnmMA6sV #Otivo #BeBetterOff #FinancialAdvice #DigitalAdvice #Super #Superannuation #EmployeeWellbeing