Affordable Workplace Financial Wellness Programs
Today’s workforce is stressed about money.
69%
69% of employees say money is their top source of stress
53%
53% find it stressful to deal with their personal finances
37%
37% spend 3+ hours each week dealing with personal finances at work
20%
1 out of 5 missed work last year to deal with a financial problem
Source: PriceWaterhouseCooper Employee Financial Wellness Survey 2015 results and Consumer Financial Protection Bureau report “Financial Wellness at Work” 2014.
Put the solution at their fingertips
- Our interactive workplace financial wellness program is a friendly guide to the world of money
- Weekly emails reach out continuously
- All mobile-friendly design
- Accessible anywhere, anytime, from any device
- Full range of help for increasing saving, reducing spending, managing debt, better investing, planning for the future, insurance and more.
- Critical education on the behavioral aspects of saving, spending, investing, as well as selecting investments and understanding fees
Why Wavelength?
Studies show that 56% of employees wished the financial wellness program offered by their company used friendlier language, and 36% say their companies’ programs are intimidating to use. Wavelength translates the world of money into simple concepts using everyday language. Our approachable multi-media format appeals to all types of learners. Most importantly our style promotes awareness and behavior change in employees. Whether we’re talking about credit cards, student loans, mortgages or investing, we’re on their wavelength!
Practical
You want your employees to have every chance to reach the retirement finish line with enough money. While saving is of course critical, investing right – and avoiding the emotional panic selling that sabotages most DIY investors – is the other critical part of the equation. Sadly, most financial wellness courses barely scratch the surface of this vital topic.
With Wavelength, you get serious investment and financial education in an engaging, user-friendly format that promotes awareness and action.
content on the specific
areas that sabotage most
retirement investors
why taking too much, or
too little, can harm our
future
benefits of getting help
(managed accounts or
TDFs) versus going it
alone
avoiding the emotional
mistakes that damage
investor nest eggs
Progressive
Most plan participants are overwhelmed by technical and financial concepts. We translate all of that into easy, everyday language. Better, we break down each section into Easy Steps. Simple things that promote action. When users are ready, they can progress to more advanced topics and spend as much time as they like.
I feel like I am being encouraged to succeed and feel comfortable with money concepts rather than being overwhelmed with technical financial talk.
Wavelength gets that most people do not like math, and equate math with money. So our programs focus more on psychology and human behavior, which are far more interesting.
Friendly and non-intimidating!
The program made investing not feel so foreign and intimidating.
Preventative
Today, there’s another issue that must unfortunately be kept in mind: that’s a growing concern about lawsuits against plan sponsors. Investment fees are an area of focus in recent cases.
Investment fees make a huge impact on the average workers’ ending retirement balance. In fact, the impact is so striking it can cost workers literally hundreds of thousands of dollars.
Sadly, the mandated fee disclosures are generally regarded as ineffective. But to prevent problems down the road, smart plan sponsors know that they need to make this information easily available.
Now you can. Wavelength’s program provides engaging, user-friendly content on how to decipher all those tricky mutual fund fees. While of course there’s no guarantee against future liability, it shows your commitment to transparency and to your employees’ best interests.
In most cases, Financial Wellness can be funded as a qualified plan expense. Check with your plan advisor or legal counsel.
Helped me recognize the huge impact fees have on long-term investments.