Financial Planning Seminars
- Employer ratings may be positively influenced by providing customized financial aids for employees. Evidence indicates that employee subgroups such as young, female, and near retirement employees will benefit from communication or programs that are designed for them.
- Customized financial aids can attract and retain good employees. An increasing number of potential employees are paying attention to the employee benefits offered by the firm. Along the same lines, employee retention will be influenced by employees’ desires not to lose their customized company benefits.
- Customization will increase employee appreciation of company benefits. If employees feel that a benefit reflects a special need they have, they are likely to seek other company benefits.
- Life event customization can foster smoother transitions during the employee’s career. Life events often lower employee productivity. Employee productivity will improve if financial planning aids linked to life events will encourage employees to plan ahead.
- Human resources administrators are frequently surprised by the low employee participation in company benefits programs. Customization will increase participation if employees understand the life event financial aids are designed for employees in their life stage.
About the Financial Literacy Center
The FLC's mission is to develop and test innovative programs to improve financial literacy and promote informed financial decisionmaking.
With support from the Social Security Administration, the Center was established in October 2009 by the RAND Corporation, Dartmouth College, and the Wharton School of the University of Pennsylvania in order to develop educational tools and programs that help individuals prepare for their long term financial stability.
About the Program
Presented by the Financial Literacy Center, a joint center established by the RAND Corporation, Dartmouth College, and the Wharton School of the University of Pennsylvania in order to develop educational tools and programs that help individuals prepare for their long-term financial stability.
Success Stories
Take a look at how companies like Mandarin Oriental Hotel Group and Nationwide have had success with automatic enrollment and automatic escalation.
The Dartmouth Project
Increasing employee participation in retirement plans has always been a challenge.
However, researchers at Dartmouth College, through a grant provided by the National Endowment for Financial Education, show that specific low-cost strategies succeed in boosting employee participation rates.
