Does financial planning for your employees affect your bottom line? Incredibly, the answer is yes. Personalized financial planning for your employees matters because employees who become financially positioned to purchase a home are generally more stable and productive. This is because employees who are working toward a goal like home ownership are generally more loyal, making it less likely they’ll go through your training and leave shortly after.
There is an invisible link between the financial well-being of the employee and the employer. In supporting one, you support the other. There truly is a symbiotic relationship between the two. Employee benefits are often misconstrued as just health and dental. In truth, health and dental plans are the tip of the iceberg in employee benefits. There is a lot more below that we offer that affects the well-being of the employee and the employer.
According to an article on Workforce.com titled A Popular Perk Employer-Sponsored Financial Planning, “in the annual Top Five Benefit Priorities survey conducted by the International Society of Certified Employee Benefit Specialists (ISCEBS), for each of the last three years, “Providing Financial/Investment Planning Tools” and “Increased Investment Education” have been near or at the top of the list for both employers and employees.”
At Abundance, we have already helped many of our clients employees with their financial planning. We have helped them with setting up strategic savings plans to buy a house. We have advised them on how to save on their insurance expenses (as much as 65% on mortgage insurance) and we have helped them pay down their mortgages, faster too. It is advice like this that empowers and motivates staff. The employee also knows their employer played an indirect role in their financial success. It is these connections and accomplishments that we are most proud to share with our family and friends.