As the New Year nears, people tend to create common goals and resolutions like exercising more or eating healthier. And while these changes are for the better, financial goals are just as important, yet often overlooked. Thanks to the internet, though, financial literacy is now more accessible. As a result, people are also focusing on their financial goals.

There’s no better time to start doing this than right now, in a post-pandemic world. If there’s anything COVID-19 taught a lot of people, it’s that it’s important to be financially prepared for even the most unlikely circumstances.

For some readers, we’re in a position at work where we have employees working for us. Perhaps you’re a small business owner with employees, or you’re part of the executive team. Regardless of how big or small your company is, you are in a position to help employees reach their financial goals. Aside from making employees better at managing their finances, doing this can benefit your company too!

Why Help Employees Meet Their Financial Goals?

Financial stress affects more than half the people in the U.S. workforce, according to a 2017 PwC study. In turn, this affects their productivity, which impacts the company they’re working for. But with your help, employees can:

• Become more financially literate
• Experience less stress, making them more productive at work
• Feel motivated to work to reach their financial goals

Below, we’ve outlined some ways you can help your workplace staff in setting goals and achieving financial freedom.

Hold financial education sessions

You’ll be surprised how many American adults still don’t know enough about financial matters, like debt, credit scores, and investing. So financial education sessions can be of big help in making them better at money management.

In the workplace, it’s typical to offer training programs that hone certain skills employees need to do their job well. But you could also include financial literacy as a part of your organization’s training programs.

Recruit financial professionals as speakers and make it a laid-back event so employees can ask everything they’re curious about when it comes to money management and achieving their financial goals.

Offer financial assessment services

Financial assessment, evaluation, or audit, is a service that provides employees with a snapshot of their financial strengths and weaknesses. An insight into these helps your employees create a baseline for their goals.

Think of it as a doctor’s appointment. Plenty of people’s financial stress root from the fact that they’re unsure what they’re doing wrong. A financial assessment can uncover these reasons, which can better help them find “the cure.”

Apart from the financial management mistakes, though, a financial assessment also reveals the things your employees are doing right and must continue.

Give out free financial literacy resources

As we mentioned above, financial literacy is more accessible than ever thanks to the internet. But your employees wouldn’t be needing your help in the first place if they’ve already utilized those resources.

So, why not give them a nudge and point them toward these financial literacy resources. They might not be aware of some of them, such as money management podcasts and books. But with your encouragement, they could seek these free resources out and continue learning how to achieve their financial goals.

Relieve work-related financial burdens

From food and clothes to transportation and equipment, employees sometimes carry a lot of financial burdens due to their position. But you have the ability to relieve them of these burdens.

Lunch, for example, can add up to between $50 and $100 on average per week, depending on whether a person is cooking at home or eating out. This doesn’t include the cup (or three) of coffee from a coffee shop and other tiny snacks in between.

The cost of gas or public transportation also racks up. Child care and dry cleaning for formal office wear can also take up a huge chunk of an employee’s budget.

But if you provide free food, implement a relaxed dress code, or offer work-from-home as an option, these work-related financial burdens can disappear.

With your employees receiving these kinds of help from your organization, their financial stress levels lower. Then, they become productive, valuable assets to your company! If you’re an employee that is interested in seeing some of these changes in your workplace, consider bringing them up with management!

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