Council Publishes Guide to Help Employers Measure Results of Financial Wellness Programs

East Granby, CT - December 21, 2020 - The Retirement Advisor Council announces publication of its VIEWPOINT “A Return on Wellness – Measuring Financial Wellness Programs”

The guide posted HERE

  • Illustrates how employee financial stress impacts the cost of labor, and
  • Provides a case-in-point showing how an 8-year program improved productivity, retention, and reduced administrative costs associated with turnover
  • List quantitative metrics to help measure the Return on Investment of Financial Wellness programs.

The guide concludes that each employer should develop its own metrics to determine the value of, and needed changes to, a Financial Wellness program tailored to its own employees over time.  Measurable components might include absenteeism, employee engagement, talent retention, healthcare costs, delayed retirements, and labor cost – all of which are impacted by financial stress.  

“Financial stress among employees is increasing and when employers are able to provide customized financial wellness solutions tailored to the needs of their workforce, they see an increase in productivity and better outcomes all around,” says Jessica Fox, Prudential Retirement, Chair of the Editorial Board who wrote the guide.

This VIEWPOINT is the third of seven the Retirement Advisor Council plans to publish to guide employers and their financial advisors through the construction of financial wellness programs.  Future VIEWPOINTS will examine the how to tailor a program to the unique concerns of executives, the role of advisors in financial wellness programs, and how to structure financial wellness programs to address the needs of mature workers.

About The Retirement Advisor Council

Formed in 2009, the Retirement Advisor Council is a national organization that advocates for successful qualified plan and participant retirement outcomes through the collaborative efforts of experienced, qualified retirement plan advisors, investment managers and defined contribution plan service providers.  To advance its mission, the Council undertakes initiatives in the areas of research, public relations and promotion, general public education, regulatory positions and practice management.  The Council accomplishes this mission by:

  • Identifying duties, responsibilities, and attributes of the Professional Retirement Plan Advisor.
  • Sharing professional standards with plan sponsors who are responsible for the success of their plans.
  • Providing collective thought capital to decision makers, product providers, legislators and the public.
  • Giving voice to the retirement plan advisor community
  • Offering tools to evaluate advisors to ensure the quality of services provided.

Retirement Advisor Council is a brand of EACH Enterprise, LLC.  Learn more at www.retirementadvisor.us

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