How forward-thinking companies are supporting employee financial wellness

These days, affordability is on everyone’s minds. People and Culture departments are listening to the trigger points of their team members and providing resources to help empower them.

Desjardins Insurance has launched budgeting workshops to enhance employees’ financial literacy. Additionally, the company introduced Unforeseen, an app designed to educate younger employees and clients on crucial financial concepts, including optimal credit card use, understanding credit scores, and managing personal income taxes.

“The personal finance workshops are designed to empower our employees to make informed financial choices, from managing the family budget to preparing for major life plans,” says Stéphanie Laliberté-Samson, director of culture and financial empowerment at Desjardins. “Many Canadian families are struggling to cope with inflation and higher interest rates, so the conferences aim to arm employees with the knowledge and tools to navigate these changing costs.”

The Royal Bank of Canada has established a new website, My Money Matters, offering financial education and support. Featuring over 1,000 articles on financial well-being, the platform aims to destigmatize conversations about money, as stated by Elvis Wong, the bank’s director of financial well-being.

And it’s not just Financial Services companies ensuring their employees have sound financial health. The Canadian branch of Fluor, a global construction and engineering company, is creating engaging programs that appeal to the different generations that make up its workforce.

“The current economic climate has amplified financial anxiety and has people looking at their debt and savings differently,” says Terri-Lynn Levy, the company’s manager of human resources — benefits, wellness and HR information systems in Canada. “Younger workers are trying to figure out how to save and pay down debt at the same time. There’s a lot of financial pressure on people right now, particularly younger generations.”

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