When it comes to money, everybody has something to say.
But how do you handle the many voices, in your own workplace.
How on planet earth do you create a literate workforce able to live wisely within what you offer them in “end of month.” (Of course apart from increasing it) . There are three answers to this question.
Like any other discipline, financial habits are learnt and unlearnt overtime, somebody needs to tell your boss that it’s simply not the about the paycheck, but it’s management too.
In other-words, Employers not only need to show concern for remuneration but also for the remunerated. What’s going on in their budgeting? How is that affecting their input? How can the accounts office come to the rescue, in case of some emergencies and special needs(where need be)?
These would be good questions to start with.
For the intrinsic well-being of staff is every employers business too.
Question is, in which areas can it happen ?
Cambridge Human Resource Group states that a lack of financial education for workers is “the most critical unaddressed workplace issue.” To quote the Met Life report Financial Education—An Essential Component of Your Wellness Strategy, “The addition of a financial wellness component can offer significant advantages for a company’s bottom line and increase appreciation for the benefits they already offer.” (/employee-financial-education.html see http://www.financialeducatorscouncil.org )
Scholars have also cited most stress levels as a consequence of financial problems, so undertaking this pursuit is no luxury for the employer .
The Pennsylvania institute of Certified accounts (PICA) for example lists some of these areas as areas that ought to be addressed in workplace financial education .Hope you can identify yourself somewhere.
- Budgeting and spending plans
- Retirement planning
- Changing family structure: marriage, divorce, new baby
- Setting financial goals
- Planning for emergencies
- Paying for college
- Managing credit
- Getting out of debt
- Estate planning
- Elder care
Wouldn’t that be a good place to start,so let your bosses think about it .