Dealing with money became a severe issue at the height of the COVID-19 pandemic, and it has not gone away. People are frustrated and nervous about what to do with personal finances. Research supports this observation. The 2021 PwC Employee Financial Wellness Survey discovered that approximately 63% of respondents reported their financial stress increased during the pandemic. They can use some help in addressing cash problems. Employers, fortunately, are doing their best to respond to this personal crisis.
We applaud every organization that is stepping up to help hardworking employees. Most of the help currently centers on workshops or financial emails to employees. Those are good ways to address the situation initially, but more perhaps is necessary. We suggest that organizations can provide a better benefit by going one step further.
The Human Touch Matters to People
It is not a surprise that few employees understand financial matters. Many live from paycheck to paycheck and are not ready for any sudden emergencies. Highly skilled analysts might understand computer code or social media strategies but do not know how to develop a workable budget. Sending information to these people might not truly help solve the problems.
Personalized assistance is what everybody appreciates. Having expert help sorting through financial terms and explaining various strategies is deeply appreciated by frustrated employees. Countrywide Pre-Paid Legal Services has an employee benefit to help with financial woes and we use professionals to deliver the service.
Our Counselors are Financial Wellness Experts
Countrywide makes use of a national network of certified counselors to give plan members what they need. There is a counselor located in every Countrywide client organization community, and they will provide priority service to any financial wellness plan member. No one waits long for any needed help. Our counselors are familiar with COVID-19 precautions and have protocols in place to protect anyone who wants a face-to-face meeting.
Our Services Address Real Challenges
There are various sources of financial anxiety that require attention. A new employee, fresh out of college, might be looking at sizable college debt issues. An older employee may be starting to worry about medical bills and how to pay them. Other associates worry about credit cards and how to budget correctly. Countrywide counselors understand all these concerns.
The counselor will do a budget analysis to determine the existing state of a plan member’s financial wellness. Specific concerns are addressed with the best advice given. Plan members often discover there are simple solutions to what once looked like complicated issues. The professional knowledge and expertise of the Countrywide counselor make the difference.
The Client Will Participate
Countrywide wants to provide the best financial wellness plan for a client. We believe that the most successful benefit is one that every employee has a chance to use. Because employers know better than we do about the demographics and needs of the workforce, we ask a client to help us create the plan.
Countrywide will explain all the benefit options and answer all questions. We then stand back and let the client select what services will be in their financial wellness benefit. We back up those selections with highly efficient administration and superior member services.
Empathy best describes our member services. People with finance-induced stress are anxious enough without getting lectures about frugality and better spending habits. We do not preach a sermon to a frustrated plan member. Our counselors are expected to practice high levels of emotional intelligence and listen carefully to the plan member. We seek workable solutions to common financial challenges.
If you have any questions on how we can help your employees, please contact us at your convenience. We welcome any opportunity to assist your workforce in dealing successfully with everyday money issues.