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10 ways employers can recognize and promote financial wellness month at work

January is a well-known month for setting goals, resolutions, and intentions for the new year. So, it’s only fitting it also happens to be Financial Wellness Month. I don’t know about you, but many of my goals tie into my financial life, and what better time to dive into them than now! 

As we learned in 2023, financial stress is at an all-time high, and employees are seeking help from their employers because it turns out it's tough to put financial stress aside at work.

Our financial lives are often more complicated than we would like them to be, which makes it difficult to know where to start when it comes to our employees' financial well-being. To help you get started, we’ve compiled a list of ten simple and effective ways you can offer support to your employees.

1. Invest in a free coaching session for your team

Provide free financial coaching to employees for guidance on money questions! This coaching session will give employees a chance to receive personalized guidance on their financial questions and concerns. With the help of a financial coach, employees can develop strategies to manage their finances better, set financial goals, and gain confidence in their financial decisions. 

2. Create a financial book club

One idea to foster financial literacy and teamwork within the workplace is to create a financial book club.  Employees will learn from each other and better understand managing money and achieving financial goals. Additionally, this activity can help build relationships among co-workers and promote a positive company culture.

3. Create a financial resources hub 

Develop a dedicated webpage on the company intranet with links to financial articles, videos, and tools, providing employees with a centralized resource for quick access to financial information.

4. Send educational emails 

Write some quick and simple emails with tips about finances, useful tools, and links to helpful resources that employees can use in their everyday lives. Keep the information easy to understand and applicable to their daily routine.

5. Lunch and learn sessions

Schedule brief, interactive lunchtime sessions where employees can bring their lunch and participate in discussions or presentations on basic financial concepts by internal experts or external speakers. Some session topics could be around how to budget, debt management, or how to invest in your future self by contributing to retirement savings. 

Here is a free webinar you can share with your employees: "Feels Good, Is Good. The Impact of Financial Stability on Your Life,” presented by award-winning financial mind Peter Dunn (AKA Pete the Planner).

6. Create financial wellness challenges 

Launch a savings or debt reduction challenge with clear goals and small incentives for successful completion. The challenge could involve a group of people with similar goals working together for a set period of time. By making the challenge fun, engaging, and rewarding, people are more likely to stay motivated and committed to achieving their goals.

7. Create a wellness calendar

Develop a monthly calendar with specific financial wellness activities for employees to participate in, such as budget reviews, savings goal setting, or quick financial quizzes, and share it through various communication channels. 

8. Take a financial personality quiz 

Have all of your employees take a financial personality quiz.  A quiz like this will help employees understand their financial habits, strengths, and weaknesses and learn how to make better decisions. This can ultimately lead to increased financial wellness and confidence, which can benefit your employees in their personal and professional lives. 

9. Offer financial education workshops 

Arrange workshops or webinars on various financial topics by bringing in external financial experts or utilizing online resources and promoting them through company-wide communications.  A few webinars or workshops could be about how to make the most of employee benefits, a tax season workshop, debt management, financial management 101, or a guide to becoming a homeowner! 

10. Share stories of change & success

Encourage employees to share their financial success stories anonymously or voluntarily through written or video testimonials and showcase them on internal platforms or during team meetings to inspire others.

Financial Wellness Month is an excellent opportunity to initiate your organization's journey toward having financially healthy employees. Use the ideas presented here as a starting point to develop good financial habits that extend beyond this month. You can also assess your organization as a whole by taking our 5-minute financial wellness audit. Supporting your employees' financial wellness doesn't have to be complicated. 

If you want to discuss any of these ideas, feel free to drop us a note at hello [at] yourmoneyline.com!