Tips to Help Employees Reach their Financial Goals
It’s no secret that this year has been particularly difficult due to the COVID-19 pandemic. Many employees have faced significant financial burdens, healthcare costs being at the top of the list of many different issues. However, even amidst all this uncertainty, there’s still something you can do as an employer to help ensure their future is financially sound: offer an employee wellness program.
Employee benefit programs, like the one available at Mentoro, can provide your staff the help they need to plan for financial emergencies, meet daily expenses, and save for retirement. Here is some more information about how the Mentoro solution aids with 3 common financial goals:
Saving for Retirement
Implementing an employee wellness program can help them meet long-term financial goals like saving for retirement. Providing education around their IRA or employer-based 401(k) plan can help them plan for what they’ll need down the road. Each employee has unique retirement goals and needs for which to prepare, and the right employee benefit program can help them do just that!
Having bad credit can make it extremely difficult to make big purchases like new cars or a home. This, in turn, can lead employees to look toward predatory financial loan companies to make up the shortfall, placing them in further debt down the road. But, a workplace wellness program can give them the structure and insight necessary to pay off their debt and start improving their credit score.
Buying a Home
Piggybacking off what we mentioned above, buying a home is, for many, one of the biggest financial goals in life. You can help your employees achieve this dream by giving them tools to eliminate debt and save for a down payment. It can cost up to 20 percent of the entire price of a home for a down payment, making it very challenging for many who don’t have their finances in order.
Contact Mentoro today for more about employee wellness program benefits!
To learn more about how Mentoro can help get your employees on the road to financial stability, contact us today by calling 1 (844) 324-2411 or visiting us online.