The Employee Benefit Research Institute (EBRI) recently conducted a study on financial wellness that produced interesting results. The published report,” 2020 EBRI Financial Wellbeing Employer Survey: COVID-19 Driving Benefit Offerings and Potentially Forcing of Budget Decisions,” shows a definite change in the focus of financial wellness programs. Instead of concentrating on retirement savings, there is more concern about employee personal finances’ overall stability.
The study shows productivity to be a driving force for financial wellness programs in addition to employee retention. COVID-19 has caused incredible anxiety among employees who are worried about money issues. The stress can impact performance and employers understand the need to respond proactively. Coaching is a topic being addressed and forward-thinking employers are reviewing the impact of healthcare.
None of this is a surprise for Countrywide Pre-Paid Legal Services. We have been offering financial wellness benefits for years, and our clients respond favorably to the assistance we provide for employees. We know that employees sincerely appreciate the ability to provide good services to people in these times.
The Individual Is at the Core
The Countrywide plan is centered around the plan member and responding to individual needs. We provide essential services through a nationwide network of certified counselors. These are experts in financial wellness who deal with everyday problems such as balancing a budget and dealing with bankruptcy. The counselors give our plan members priority treatment. Everyone who is part of the plan can expect immediate service when it is requested.
We Stress the Basics
Countrywide is concerned with solving those fundamental problems many people have. A budget analysis is performed by a Countrywide counselor to understand the financial challenges of a plan member. The counselor will then help an individual create a workable budget that pays all the bills.
Employees are diverse groups demographically, and needs vary among age groups. A young employee may be worried about college debt while an older worker may be facing serious medical expenses. Those in the middle years may wonder how to afford a house and some other big-ticket expenses.
Countrywide will provide the coaching and guidance all these people need to respond to their individual worries. Not everyone wants to talk about their finances. It can be an extremely sensitive subject, and no one wants to look irresponsible. We appreciate that.
Our counselors are expected to show high levels of emotional intelligence. These professionals respond to questions with empathy and courtesy. There are no stern lectures for a person to endure. Instead, problem-solving advice and suggestions are given. The counselors are to develop a rapport with plan members that gets the job done and the problems solved. We recruit our counselors on their financial understanding and their communication skills.
The Employer Is Always Included
The Countrywide plan is a result of a collaborative effort. Employers know what their employees require better than we do. We explain all our benefits to a potential client fully and answer all the questions asked. The employer will then decide what benefit options are going to be part of the plan. Only those selections will be in the final document. Countrywide furnishes administration and makes sure that services are provided in a timely fashion. Our member services are considered among the best in the industry.
We certainly hope that COVID-19 will one day go away. Financial problems and the need for advice will continue to be a source of anxiety for employees. We can help and worry and provide your employees with the type of benefit they will use. The same assistance lets employees know how deeply you care about them and their personal well-being. The gratitude is reflected in longer retention and increased productivity.
If you have any questions about the Countrywide plan, please feel free to contact us at your convenience. Now is an excellent time to take a serious look at financial wellness. You will quickly discover that Countrywide offers a fantastic benefit your employees will use.