First Experiences with Financial Wellness: The Recipe for Financial Well-being
32 trainings and over 1,000 participants in just one month! Financial Wellness is thriving and becoming a favorite employee benefit among companies active in Central Europe. What can Financial Wellness bring and change in your company? How would it look if your employees were financially more at ease?
Matúš Krnáč | Personal finance | 18. October 2024
Invest with us in your company’s greatest asset – your people
This spring, Finax launched a brand-new series of educational trainings focused on personal finance called Financial Wellness.
We bring this program directly to companies to help employees gain control over their moneys, reducing the financial stress that often negatively affects their work performance. A 2023 PwC survey showed that employees experiencing financial stress are up to 5 times more likely to be distracted by financial problems at work.
Among employees who feel financial stress, 56% admitted spending more than 3 hours per week at work dealing with or thinking about their financial situation. This leads to lost productivity and even disengagement from work.
At Financial Wellness lectures, we provide employees with basic principles and verified tips that help them improve the management of their funds – as if they were following a recipe for healthy and balanced finances. Just like quality ingredients and a verified recipe lead to a tasty meal, healthy financial habits lead to greater financial security, freedom from stress, and improved work performance.
Higher salary doesn’t automatically mean greater financial satisfaction
As a Chinese proverb says:
"Give a man a fish, and you feed him for a day. Teach him how to fish, and you feed him for a lifetime."
Simply increasing salaries may not be a sufficient solution for employees. After all, none of us have trouble spending more money. A better solution is to complement it with education on the principles of healthy financial behavior, which can improve their entire lives and serve as a model for their children.
Improve Your Financial Wellness
Why are companies increasingly turning to Financial Wellness?
In an ever-changing economic environment, employee well-being – including personal financial health – is becoming an important focus for successful companies. With rising household costs and economic uncertainty, companies are increasingly realizing that caring for their employees' physical and mental well-being isn’t enough.
Companies that have already implemented our Financial Wellness program are ahead of the curve, creating a better workplace for their employees.
We admit that even we were surprised by the success of Financial Wellness so far. The trainings are free from sales pitches and provide objective information that participants can easily apply to their own lives.
The icing on the cake is our lecturers, Ján Tonka and Šimon Pekar, who enhance the value of the training with their professionalism and expertise.
Employees from the following companies have completed Financial Wellness training:
And here’s what their representatives had to say about Wellness:
How does it work?
The trainings are conducted in the form of in-person lectures at the company, interactive online trainings, or a combination of both, in either Slovak or English.
The trainings are divided into four core lectures:
- Healthy Personal Finance Basics and Emergency Fund – focusing on creating an overview of income and expenses, drafting and maintaining a budget, and building up an emergency fund.
- Investing: The Basics of Wealth Building – the difference between saving and investing, an overview of basic asset classes, active vs. passive investing, index funds (ETFs), and creating an investment portfolio.
- How to Secure a Decent Pension? – overview of a typical European pension system, retirement planning, 3rd pillar schemes, European Pension (PEPP).
- Good and Bad Debt – distinguishing between good and bad debt, getting rid of bad debt, securing a favorable mortgage, managing rising interest rates, and building wealth using debt.
Each lecture lasts approximately 90 minutes, including a QnA session and discussion.
Open the door for us, and we’ll be happy to help your company too
If you want to support the financial health of your employees, contact us at business@finax.eu. Together, we will create a plan to improve their overall satisfaction not just at work, but in personal lives as well.
If you are an employee and would like us to conduct the training at your company, please share this blog with your managers or HR department. We’ll help create a healthy financial environment at your company as well.
This article provides marketing information about the products of Finax, o.c.p., a.s.
