This might seem strange to think about, but COVID-19 makes it easier for organizations to innovate and try new strategies. Remote working is now the standard working environment, and telehealth is no longer a group health benefit novelty. Employers are ready to take risks to ensure better productivity, and the possibility of new employee benefits is on the table.
Competent executive teams realize there is an excellent opportunity to gain the goodwill of their employees by improving and introducing better employee benefits. An essential criterion is the immediate value of anything new. Subordinates do not want window dressing or just “feel-good” additions to the benefits program; they want programs that will help with various challenges in their lives. Financial wellness is an issue that is grabbing the attention of the employee benefits experts. It is a benefit whose time has now come.
The Importance of Education
Many financial troubles arise from not knowing exactly what to do to solve a problem. Young employees may be facing the need to budget, and older employees are struggling with how to handle medical bills. Based on hearsay or a friend’s advice, inadequate information can lead to some horrible decision that harms financial wellness. Planning for emergencies will require reliable data that the average employee might not understand how to collect.
Organizations benefit from the technical knowledge younger employees bring to the table. Their ability to code and analyze mountains of information creates corporate profit and cuts costs. What is troubling is the massive college debt they carry on their shoulders. Some are looking at six figures of financial obligations, and these figures negatively influence many life decisions. Tuition reimbursement can help but managing the existing commitments is a less expensive alternative.
Countrywide Pre-Paid Legal Services knows how a money crisis adds stress to a person’s life and can harm productivity. We have a financial wellness plan that will help employees of all age groups balance the books and deal with unexpected emergencies.
Sharing Knowledge and Experience
We do not think that education should only be textbooks and podcasts. Personal contact matters. Countrywide has a national network of certified counselors to assist plan members. There is one located in every community where there is a Countrywide counselor. Our plan me3mbers have priority status when it comes to scheduling meetings, and social distancing is practiced.
The personal budget is a cornerstone of any financial wellness plan. A Countrywide counselor will do a budget analysis to assess a plan member’s cash flow better. The date investigation identifies any inherent problems. The counselor will then point out where the plan member can make positive changes.
There are means to make a college debt more manageable, and we will refer an individual to various programs or negotiate a more affordable payment schedule. Forbearance or bankruptcy are no longer the only options.
Medical copayments are getting higher and are frustrating. Countrywide will help a person negotiate a payment plan that is not a wallet buster. Our money professional will show how a person can create more straightforward terms with the hospital.
Emergencies can be expensive and cause panic. There is no reason to worry if a Countrywide financial wellness counselor is available. That expert can do an asset inventory to identify assets to liquidate that provide large sums of needed capital. A plan member is thereby financially ready for any trouble.
Gaining the Good Will of Subordinates.
Employees give positive feedback when benefits solve big problems. Employers have an opportunity to develop a great Countrywide benefit. We ask a prospective client to select which Countrywide options will be part of the plan. We explain each one and answer all questions. The choices are included in the final plan, and Countrywide provides the administration and superior member service.
Your employees will appreciate Countrywide financial wellness benefits. If you have any questions about our services, please feel free to contact us at your convenience. We are here to be of service to you and your staff.