According to leading experts, employee financial stress is now costing corporations over $7,000 per employee in lost productivity every year, according to the latest Reuters and U.S. Chamber of Commerce statistics! With every company in the country today looking to generate more work out of fewer employees, relieving that financial stress is a major priority (Treasury Department :"Financial Literacy" Commission).

Corporations are also extremely concerned that employee financial stress is leading to more workplace violence and other safety concerns (Department of Labor). Record personal debt levels will have a devastating negative impact on productivity in 2005 (Federal Reserve).

Hewitt & Associates reports that only 12% of employers believe their employees are taking responsibility for their retirement future.

Further, 82% of employers are confident that their employees will not have sufficient savings to retire! Hewitt Survey

Some other figures to consider:

• One in four employees reports suffering from severe financial distress.

• 28% were worse off financially in 2006 than in 2005.

• 40%-50% say their financial stress has negatively impacted their health.

• 80% report they deal with financial issues at work, including communication with creditors.

• 5% say financial stress has negatively affected their work productivity.

• 80% are interested in workplace financial counseling and would use the service if it were offered to them.

• Improving employees' financial well being can result in a 30% boost in productivity and improve a company's financial performance.

Corporations nationally have found that they can leverage their Benefit Dollars--while accomplishing other company goals--by providing unbiased Financial  Education.

Providing Financial Literacy Education to employees help corporations:

• Increase productivity
  Attract and retain loyal, diligent workers that recognize that you care and are invested in their future financial well being. Improving your employee financial wellness can increase your company productivity by as much as 30%. Employees with financial troubles are more likely to be unhappy with their current wage and change employers. (See some of the statistics below)
• Cut HR costs, time and headaches
  Reduces the burden on HR/Benefits departments from answering questions on financial benefits, communication and marketing around benefits. This is especially effective for companies with multi-site employees and organizations experiencing rapid growth, benefit changes, layoffs, mergers/acquisitions, termination of defined benefit plans, etc.
  Financial education helps offset the costs of wage garnishment and payroll advances for employees in trouble. It also is a way to offset potential reduced benefits caused by increased medical costs and insurance.
• Increase employee benefit utilization
  Knowledge is confidence, control, and power! Employees who understand their benefits are more likely to use them.
  A Financial Education program can help you realize strong ROI on existing benefits. The more employees that participate, the less it costs you per employee. Education, by increasing participation rates, can help you pass discrimination testing and make your benefits more effective for your higher wage earners.
• Reduce liability
  Under ERISA Section 404(c), employers are required to provide, among other things, proper information on investing and investments. In recent years, especially with the largest loss of employee wealth in history, more and more employees have taken their grievances to court. Unbiased, third-party education is the best way to provide this much needed and necessary information and reduce the risk of your organization.