Employee Financial Wellness
Connect. Leverage. Profits.
College is one of the biggest financial decisions many employees will ever make – for themselves, their kids, or their grandkids – yet many do so without access to critical information needed to avoid costly mistakes. Our interactive multi-media College Resources – all utilizing best-in-class LMS Technology – have been the MISSING component in Financial Wellness programs … until now.
75% of parents state ‘college’ prevents them from saving for retirement
– 2023 Fidelity Study
Lack of Education Affects
Employers’ Bottom Line
Employee concerns about college are affecting employers in multiple ways:
- Lost Time: Students & parents average 75 – 100 hours researching ‘College’ (much of it on the job), which has led to higher Presenteeism costs
- Healthcare: Anxieties about how to pay for escalating college costs lead to higher stress-related Healthcare costs (Multiple studies found a direct link between financial worries and depression, heart disease, anxiety, and substance abuse)
- Turnover: Employees seek better educational solutions, help with financial challenges, and/or more money, which contribute to the ‘Great Resignation’
- Retirement Accounts: Higher college costs & unexpected fees (increasing 40% in the past 4 years) have forced more employees to delay saving or withdraw funds from their Retirement Accounts to pay for college
83% of HR leaders worry that employees’ financial issues could impact productivity
– 2023 Morgan Stanley Workplace Study
90% of employers believe that Financial Wellness benefits are more important than ever, and 85% believe it will help them attract and recruit top talent
– 2023 Financial Planning Study
LMS Solutions Strengthen Employers’ Bottom Line
LFE’s digital multi-generational College Resources – with our new College Video Library & Resource Guides – are now all available on the latest interactive LMS Training Platform. Employees and their families can access this unbiased education 24/7. And because these unique tools were designed to help employees save both time and thousands of dollars, they’ll help your clients achieve financial stability and success, leading to long-term partnerships and business growth.