Don’t hesitate to give employees financial advice.
Two-thirds of workers trust the financial advice that’s offered by their employers, according to a study by TIAA-CREF, an independent research firm. The survey polled 1,000 adults across the nation on their attitudes, preferences and behaviors regarding receiving financial advice.
Looks like it’d be a good idea to start offering employees personal financial education through your HR or benefits department. It could also be a good idea to offer your expertise to your employees while linking to this study.
Still unwilling to ask for help
Though 66% trust their employers when it comes to finances, the research found that just 27% of people actually seek out that advice at work, while 42% looks to friends and family for help in this area.
“While employers aren’t always the first source for financial advice, when employees have access to advice through the worksite, it carries significant weight,” Ed Moslander, senior managing director at TIAA-CREF told WorldAtWork.org. “And the fact that many individuals turn to family and friends for advice points to an important opportunity for employers to help their workers access professional, objective advice to build their financial well-being.”
Do you think it’s important for employers to have a role in helping their employees’ financial situations? Let us know in the comments below.