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Financial Health Network: Employer FinHealth Toolkit

Financial Health Network | Jan 20, 2022

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Why Invest in Employee Financial Health?

Now more than ever, employees at all income levels are struggling with their finances, especially those with low to moderate incomes. When people worry about their finances, they struggle to stay focused and productive at work. What’s more, employees have come to expect that their employers will provide wages and benefits that support their financial health.

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Investing in the financial health of your workforce can create a win-win for your employees and your business. But beyond being a smart thing to do, many companies recognize that investing in employee wellbeing is the right thing to do. Caring for the financial health of your workforce shows that you value your employees and the contributions they make to your company’s success.

Diagnose Needs

Employee needs are diverse. One-size-fits-all financial health solutions can result in low uptake and limited impact, because they don’t address the needs of the employees who could benefit most. Before designing solutions, take the time to understand your employees’ needs and prioritize the most acute challenges.

Identify Solutions

To find the right solutions for your employees’ most pressing financial needs, begin by looking for gaps that could be addressed with enhancements to existing programs or new solutions.

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Design for Engagement

For many employers, encouraging employees to use their benefits optimally is an age-old challenge. Use these strategies to promote engagement with your financial health programs.

Measure Impact

You’ve begun diagnosing your employees’ needs, rolling out solutions to meet those needs, and designing your program to maximize engagement. Now how do you know if it’s working? A robust approach to measuring impact of your programs is a critical component of an effective employee financial health strategy.

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