What Kind of Financial Program HR Should Provide to Employees?
Benefits by GreatDay HR
Employee Wellness Platform for Dynamic Workforces | Create Financial Health at Your Workplace #NoMoreWorry
It’s not the workload, it’s not the environment that their engagement decreases.
It's the financial issue.
Most common problems from employees’ are how they feel about their wage not supporting their daily needs.
And it really matters to business.
As an HR, you should really look out for your employees’ financial wellbeing.
Not controlling their spending. But giving them financial literacy.
Here are kinds of financial education you should give to them:
1. Money management
If you’re planning to hold seminars, workshops or counseling to help their personal fund management, make sure it’s not only how to arrange a budget with their current wage.
Money management requires:
2. Budgeting
Many of them still don't see that these need careful and thorough budgeting.
They also need to socialize and spend time on their hobby, which adds to their outcome.
Through educating, can help them to be wiser of their spending.
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3. Investing
Investment is crucial for employees’ present and future.
They need to know what kind of investments that are best fit according to their needs and their goals.?
This also prevents them from fake investments.
Employees' who don't know anything about investment might fall for their trap; promises they’ll get big profits in return.
Which will add more to their financial stress.
4. Inflation
Inflation is a silent killer.
From rising interest rates to increased petrol prices, there are implications for their pocket.
Employees’ need to know how to combat inflation before it drowns them deep in your financial wellness program.
5. Insurance
Lastly, insurance is needed so either in their elderly age, or for their children and grandchildren, won’t suffer economically.
Facilitate them with insurance knowledge selection, so they can choose to spend their old age wisely.
We’ve said it, and we’ll say it again. Employee’s financial stress is real.
If you want them to work and perform well, this is one of the things you should look out for as an HR.
Hire a financial management expert for your financial wellness program, plan it thoroughly, and let the magic happen.
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