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How to Increase Employee Engagement with a Financial Education Program

Posted by Maria Porto on Mar 3, 2015 8:30:00 AM

Engaged_EmployeesHow to increase employee engagement was a common thread I heard among the many sessions at recent conferences. So it was no surprise to me that the 2013 Gallup survey on employee engagement showed that the more engaged the employee, the faster a company was able to rebound from the 2009 recession. There is direct link between employee engagement and business growth.

With a goal of increasing employee engagement, many of the topics included implementing wellness programs, creating a culture of health, and reducing stress. Financial stress, it was noted, is the number one cause of workplace stress.

A recent Society for Human Resource Management (SHRM) survey suggests that employees are still struggling financially even as the economy is improving. That financial stress can lead to disengagement, and that translates to bottom line concerns for employers. By providing an employee education program, employers can address this issue. To illustrate the benefits of such a program, The Workforce offers a way to calculate the ROI of an employee education program.

When you are considering how to increase employee engagement, consider factors that will help employees to be engaged. A common key factor that is that employees want to feel that leadership cares about them. An employee financial education program that addresses their core source of stress is a strong way to show you understand their concerns, and it can help to increase employee engagement in the workplace.

A financial wellness program is personal in nature. By implementing this type of program, you demonstrate your interest in making life better for your employees. This creates trust, and trust creates engagement.

Shawn Gilfedder, President and CEO of SHRM survey sponsor McGraw-Hill Federal Credit Union, said, "Business leaders should be troubled that many of our nation's workers continue to face financial hardships and related stress, especially during working hours. Companies can and should take action to help employees effectively address their financial concerns, which will help improve the lives of workers and their families and also help strengthen company performance."

To learn how you can partner with a credit union as your financial education services resource, request more info here.

Financial Education Services

Topics: Business, Personal Finance

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