6 Reasons Employers Should Empower Their Employees With Credit and Financial Literacy

In a world where financial literacy is becoming increasingly important, employers are presented with an opportunity to help their employees.

The financial problems of employees can have a huge impact on their job performance. National Legal Center provides education regarding credit and debt law as a no-cost employee benefit. Together, we can #standuptodebt, improve financial literacy among your workforce and increase productivity along the way.

Do you know how far-reaching financial stress is for your employees?

Here are 6 Reasons employers should empower their employees with credit and financial literacy.

1. The financial problems of your staff are not just their problem. Financial stress creates a ripple effect that impacts the entire organization. Helping them improve financial literacy is an investment in improving overall business efficiency and success.
2. You will improve both engagement and productivity in the workplace. Research has shown that financial literacy training can improve both engagement and productivity in the workplace.
3. Increased morale among your team. Financial education programs increase job satisfaction because they know their employer helped relieve their financial stress. Higher morale leads to higher productivity. Therefore, employers who provide financial education for their employees will experience increased employee success and job satisfaction.
4. You’ll reduce turnover when you show genuine care for your employees. Employees with financial stress are more likely to leave their jobs. Lowering their financial stress can significantly reduce the cost of your talent acquisition and time invested in training.
5. Reduced stress helps their overall health. Employees who report financial stress are more likely to have high blood pressure, ulcers, and insomnia.
6. You’ll show you are vested in the people who are vested in your organization. It is challenging for anyone to thrive when they’re stressed about money. Employers should want their team to be well, both on and off the job.

Providing financial education for employees will save them money and improve your overall company culture. In addition, financial literacy training can lead to significant savings in many areas. Potential outcomes are improved debt management, reduced credit card interest and loan fees, better use of employer discounts, increased benefits from 401Ks and IRAs, and lower tax rates.

National Legal Center provides education regarding credit and debt law as a no-cost employee benefit. Together, we can #standuptodebt and improve financial literacy among your workforce and increase productivity along the way. To learn more about bringing this no-cost benefit to your team, head over to www.nationallegal.com/groupbenefits to request information. We’ll be happy to chat with you!