Business Coaching

Why do business need coaching and employee financial education?

In a survey by Workplace Options, 48% of workers admitted that stress affects how they perform at work. 40% of employees thought  it was important for employers to offer employee financial education, and 60% said they would take advantage of employee financial education if it were offered.

According to World at Work, “right after employees, employers are, perhaps, the greatest beneficiaries of workplace financial education.” An article from the Journal of Employee Assistance says, “Employers who respond to their employees will be rewarded with loyalty, gratitude, and improved productivity that will pay dividends for years to come.”

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Employee Benefits of Financial Freedom at Work

Eliminate Debt
Financial Freedom at Work
will empower your employees with a game plan to eliminate their debt and free up their most powerful wealth-building tool, which is their income.

Save Money
Saving for emergencies, purchases, and wealth-building is vital. The paycheck to paycheck lifestyle will be a thing of the past.

Income Management
Employees learn how to take control of their largest wealth-building tool, their income. After just a few weeks of disciplined budgeting and cash flow planning, they feel like they are making more income than before.

Investing and Retirement Planning
Everyone knows they should be saving for retirement, but how many of your team members are? Financial Freedom at Work makes retirement planning easy to understand, motivating your workforce to set firm retirement goals and stick to them. Please note that we do not sell any investments or products.

Strengthened Families
Financial Freedom at Work teaches families to set goals, build discipline, and work together. With Financial Freedom, good marriages become even better.

Empowered Singles
By working with accountability partners who share similar goals, singles build confidence in their financial future.

Employer Benefits of Financial Freedom at Work

Workforce Stability
Seven out of ten Americans live paycheck to paycheck. Too many workers are strapped for money, causing them to make requests for payroll advances, loans, and hardship withdrawals from company sponsored retirement plans. Financial Freedom at Work will provide your team with the information, inspiration, and accountability they need to manage their money and avoid financial crises.

Increased Participation in Company Benefits
When your employees’ finances are stable, they will be able to take advantage of, and fully appreciate, your company’s benefits programs.

An Invaluable Investment
Building the stability of your workforce is not an expense; it’s an investment in your organization’s future. With that investment, you will see greater team productivity, reliability, and loyalty.

Boost Morale
The workplace atmosphere will change as your team members get out of debt, take control of their financial future, and lay aside the personal money problems they bring into work each day.

Reduced Absenteeism
According to one survey, unscheduled absenteeism costs the nation’s largest employers an average of $760,000 per year in direct payroll costs, and even more when lost productivity, lost revenue, low morale and temporary labor costs are included. Financially healthy employees are less stressed and less likely to need a “mental health day” that costs time and money.

Improved Retention
Workplace satisfaction will improve as team members get their personal finances under control. As employees develop hope for the future, they will become happier and more focused on your company’s mission.

 

To get started NOW just click on CONTACT US, fill out the information, and ask for your free copy of our software.

In a recent survey, 80 percent of employers said they were  “very likely” or “somewhat likely” to communicate to participants about retirement-income adequacy.

The term “communicate” may be the key to explaining  why most campaigns fail to help employees reach goals and bring value to  employers. Some companies have tried campaigns involving more collateral  materials and newsletters, even investment advice. Some of these campaigns have  worked, successfully helping employees build their financial knowledge and  portfolios, but many have failed. Employees must be “educated” and “empowered” to take control and take  action!

This is what AHOPE Foundation does; we EDUCATE, INFORM and EMPOWER individuals and families to make better financial decisions. Our program changes the thought process, ideas, and creates new decision options.

 

Financial Education in the Workplace, offers A”HOPE” for the future.

“The average employee spends 28 hours each month worried about,  calculating, or stressed over finances, costing employers $5,000 a year in lost  productivity.”  (The Federal Reserve)

Are your employees in pain?

  • 80% of people identify money as a significant
    source of stress in their lives. – American Psychological Association
  • Regardless of income, 70% of Americans are
    living paycheck to paycheck. – The Wall Street Journal
  • Distress over financial matters is contributing
    to irritability, anger, fatigue, and sleeplessness for over 58% of Americans. –
    USA Today

The statistics are staggering.

  • 52% of  American adults don’t follow a budget,
  • 36% don’t  pay all of their bills on time,
  • 42% have  no savings,
  • 39% could  only handle emergency expenses by using a credit card,
  • 43%  haven’t allocated anything for retirement,
  • 61% give themselves grades of C, D, or F on their knowledge of personal finance.

Financial issues are the #1 cause of workplace stress.

The Cambridge Human Resource Group states that a lack of financial education for
workers is “the most critical unaddressed workplace issue.”

As reported in USA Today, financial stress “is having an impact on the workplace, potentially draining productivity and increasing emotional stress on the job.”

Dr. E. Thomas Garman, the recognized leading research authority on the subject, found that when financial distress spills over into the workplace, it contributes to such work-related occurrences as:

  • Lower commitment to the organization
  • Less satisfaction with pay
  • Work time wasted dealing with personal finances
  • More absenteeism
  • Poorer health

Dr. Garman goes on to say: “Employers need to recognize that at any given time, in every workplace, part of the workforce is seriously financially distressed.” He estimates the annual cost to an employer for ignoring one worker’s financial illiteracy ranges from $750 to $2,100.

The Federal Reserve acknowledged that financially literate workers make better decisions,
leading to fewer absences and greater job satisfaction. Companies with financially educated employees experience decreasing expenses and increased performance.

Dr. Susan Jenkins of Idaho State University says, “Even a small increase in an employee’s financial security can add significantly to the bottom line.” Dr. E. Thomas Garman tells employers they “can expect $450 in positive job outcomes from each employee who slightly increases his or her financial behaviors and financial well-being.”