Create a sound financial future for your employees with PACEUPInvest ® that
gives them tools to manage their finances.
It is no secret that the COVID-19 pandemic dramatically altered the way we live and work. That is obvious even if you are not spending hours on zoom from your home office, intermittently being interrupted by kids and/or pets. What is less obvious is the impact on people’s finances and financial wellbeing. We know that many people, especially women, either lost their jobs or resigned to care for family members, but we don’t see the impact on their bank accounts. We see those who remained employed during but pandemic, but it’s not obvious that their financial stress is on the rise, with 63% of employees surveyed by PwC saying their “financial stress has increased since the start of the pandemic.” We may know individuals who took part in the “Great Resignation” in the hopes of finding more fulfilling work or recovering a work-life balance that was lost, but we don’t see their worries about retirement plans that are now off track.
Given the current situation, it's no longer possible to ignore the impact financial strain has on an individual’s overall wellness. This has implications for how businesses approach the well-being of their employees. The Harvard Business Review predicts “wellness” will replace employee engagement as the new measure organisations will use to capture the “financial health, mental health, and physical health of their employees to more accurately predict employee performance and retention. Neglecting the financial aspect of wellness when creating a Social sustainability program for ESG can have a very detrimental effect on both employees' and the employers’ bottom line.
of employees are stressed about their finances.
billion euros are lost to stress each year, especially financial stress.
The signs are there: reduced productivity, missed deadlines, increased absenteeism and sick days, tension and rifts; and the culprit is obvious - financial worries.
Yet, very few companies have tried to deal with the root of the problem. Most are comfortable throwing more money at it, but the only lasting solution is what you guessed all along: financial education.
PaceUP Invest provides tailored financial education/literacy solutions that integrate communal and individual programs to help each staff build financial resilience and accumulate wealth with or without a raise.
Our self-paced eLearning and on-site packages will empower your staff to take control of their finances by giving them the skills to be proficient at budgeting, saving, investing, retirement planning and estate planning.
We also offer special packages for women to help close the gender pension gap and the gender investing gap.
The PwC 2018 Employee Financial Wellness Survey asked employees about the benefits of financial education at work: