Employee Financial Wellness

Employer Sponsored Financial Planning, Education & Coaching ,[object Object],[object Object],[object Object],Provided by: eFinPLAN Corporate Solutions

Contents Slide Overview of Employee Financial Condition 1 Cost to Employers 4, 5 How Employee Financial Condition Affects Performance and Health 6, 7 Items that Do and Do Not Affect Performance 8, 9 ROI: Employer-Provided Financial Program Results 10 ROI: Case Study 11 - 12 eFinPLAN Innovative Solutions 13 Research Source Information 14 Contact Info 15

[object Object],[object Object],[object Object],[object Object],Personal Finance Realities ,[object Object],[object Object],[object Object]

Cost to the Employer ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Estimated Annual Costs of Ignoring Financial Illiteracy © ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],© Personal Finance Employee Education Foundation, 2008. “ Employer cost for no action is $750 to $2,000+ per employee!”

Health & Personal Finances are Correlated ,[object Object],[object Object],[object Object],[object Object],[object Object]

Research Proves Personal Finances Affect Job Outcomes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Which Decreases Employee Financial Distress and Increases Financial Well-being? ,[object Object],[object Object],[object Object],[object Object],[object Object],Don’t give employees a raise! Offer help with money management.

What Reduces Financial Distress and Increases Financial Well-Being? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

ROI: Employer-Provided Financial Program Results ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

ROI: 1-Year Work Outcomes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Projected 2.8 ROI for Sample Co. Detail* ,[object Object],[object Object],[object Object],[object Object],*These calculations are reasonable estimates, not guarantees. Some numbers are very low estimates and Sample Company’s Human Resources Department has the most accurate data. Additional ROI values from decreases in accidents, workplace violence, and theft, and reduced fiduciary liability are not included in this ROI calculation. Garnishments (2,484 X 0.30 = 745 X $600) $ 447,000 Absenteeism (56,000 X 0.30 X 0.10 = 1,680 X $100) 168,000 Short-term disability (1,259 X 0.30 X $100) 37,000 Turnover (28,000 X 0.0025% = 140 X $6,000 840,000 Health care costs (28,000 X 0.30 X 0.10 = 840 X $400) 336,000 Workers’ compensation claims ($32M X 0.005) 1,600,000 Health care spending plan (1,353 X 1 X $1,000 X 0.0765) 10,000 (cash) Dependent care spending plan (259 X 1 X 1,000 X 0.0765) 19,000 (cash) Job performance rating (28,000 X 0.30 X 0.05 = 420 X $2,100) 882,000 Work time on finances (28,000 X 0.30 X 0.05 = 420 X $167) 70,000 Total value of projected improved job outcomes $4,409,000

eFinPLAN Innovative Solutions ,[object Object],[object Object],[object Object],[object Object]

Source Information/Footnotes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

eFinPLAN Contact Information Kent Irwin, Principal 614-905-6430 Website: www.eFinPLAN.com Email: [email_address] eFinPLAN Corporate Financial Program: Brochure http://efinplan.com/pdf/eFinPLANEEBenefit.pdf Research Information: Video http://www.personalfinancefoundation.org/video/tom_video/tom_video.html Let eFinPLAN design a solution to help your enterprise succeed.

Employee Financial Wellness

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Employee Financial Wellness