Companies, large and small, that are taking advantage of the slowly improving economy to get back into the black or ensure they stay there are a dime a dozen. Much more rare are the subset of those firms that are going above and beyond to also help their employees do the same with their own finances.
They're a rare sight, to be sure, but they're out there. And the fact that they are is actually good for our overall productivity.
The Miami Herald shed light on a few of these companies in an article this week. Cindy Krischer Goodman cites the latest annual MetLife Employee Benefits Trends Study, which found that close to two-thirds of employers believe that personal financial problems lead to less overall productivity. Additionally, over half believe that these problems negatively impact absenteeism.
In an employee engagement article on our website, our former Executive Director, Mary Clark, lists other bottom line benefits for companies that take this brave step on behalf of the people that make up their workplace culture. These include reduced Social Security payroll taxes, health care premiums, and turnover. Additionally, these companies face less pressure to increase salaries and wages.
Because this is a powerful strategy among leaders' set of effective employee engagement best practices, naturally a number of Winning Workplaces' award-winning small firms embrace it. These include Top Small Workplaces Phenomenex in California and King Arthur Flour in Vermont.
What do you think about the ROI of companies doing what they can to help their workers better manage their personal finances? Do you think this is in organizations' best interest?

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