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Franklin Community Schools understands that financial stability is a cornerstone of employee well-being and retention. In a time when school districts nationwide struggle to retain teachers and staff, Franklin Schools took a proactive approach by launching a financial wellness initiative as part of their Employer of Choice program.
By partnering with Your Money Line in January 2021, Franklin Community Schools introduced a financial wellness program that has not only helped employees develop stronger savings habits but has also strengthened the district’s ability to attract and retain staff—especially younger teachers facing financial uncertainty. Over the past three years, this initiative has made a lasting impact, giving employees the tools to build a more secure financial future.
Like many school districts, Franklin Community Schools faces significant retention challenges, particularly among younger staff who are managing student loan debt, navigating inflation, and living paycheck to paycheck. Employees struggled with:
Recognizing that financial stress can lead to turnover and disengagement, Franklin Community Schools sought a solution to help employees take control of their financial futures.
To address these challenges, Franklin Community Schools launched a savings challenge alongside Your Money Line in 2024 designed to encourage better financial habits and empower employees to build stability. The initiative included:
“The flexibility is critical in a school setting. Not everyone is available at the same time. YML gives our staff the freedom to learn and engage when it works for them.”
— Tina Gross, Chief Financial Officer
The savings challenge has driven impressive engagement and financial progress among Franklin Schools’ employees:
Tina Gross, the chief financial officer, emphasized the program’s transformative effect: “The savings challenge was an incredible addition. Employees not only participated, but many shared how it helped them start saving for emergencies for the first time. One staff member told me, ‘I never thought I could save, but this challenge showed me I can, even if it’s little by little.’”
Additionally, Gross highlighted the tangible financial success achieved through the challenge: “Our savings was $171,782, and our debt paid off was a little over a quarter of a million dollars. That makes a CFO’s heart happy.”
Beyond improving employees’ financial well-being, Franklin Community Schools has leveraged the savings challenge as a tool for staff retention and recruitment.
Gross explained: “It’s tough to recruit and retain teachers and staff right now. We needed to offer something that truly supports them beyond their paychecks. The Savings Challenge, combined with Your Money Line’s financial resources, has given our employees confidence in their financial future.”
For younger teachers, financial guidance has been especially valuable: “Especially for teachers, the student loan forgiveness guidance has been a huge recruitment tool. Being able to walk them through that process is invaluable.” In addition to student loan support, their teachers and school staff have also benefited from our credit monitoring tool and one-on-one meetings with our financial guides, ensuring they have the resources and support to navigate their financial journeys with confidence.
Entering its fourth year, Franklin Community Schools remains committed to expanding financial wellness efforts, continuing the savings challenge, and further supporting staff with tools that promote financial stability. By prioritizing financial wellness, the district ensures that employees feel supported in their personal and professional lives.
“If we can touch 28% of the workforce and help them navigate financial life, we’ve done a lot of good at the end of the day”
-Tina Gross, Chief Financial Officer
Franklin Community Schools’ commitment to financial wellness through the savings challenge has positioned them as a leader in school staff support and retention. By creating a structured and incentivized approach to saving, they have helped employees develop crucial financial habits while reinforcing Franklin Community Schools as an employer that truly cares about its staff’s long-term success. Their story is proof that empowering employees financially can drive engagement, loyalty, and long-term retention in the education sector.
“Damian did a great job giving me feedback about my financial plan. He was very informative and timely. He was able to take the plan, review it, and send it back within a day!”
“Steve was very knowledgeable about my situation.”
“They were very helpful, listened as I explained my situation and were true to their word as they have checked up on me and even sent me additional information that was very helpful.”
