Staying Financially Literate in an Era Dominated by Economic Uncertainty

By Peyton Brien

With the current era of economic uncertainty showing signs of rivaling the global recession of 2008, financial security and planning for the future are essential for the mental well-being of both employees and employers. 

The impact that financial stability has on workplace operations and effectiveness cannot be understated as the price of financial stress can have profound effects on employees’ personal and professional lives. As an employer, it is vital to provide opportunities that enable financial security for employees. Providing financial security for employees at all levels of a company helps create a work-life environment that enhances employees’ efficiency and productivity, resulting in improved outlooks on the bottom-line. 

Individuals often face financial challenges such as living paycheck to paycheck, student loan debt, inadequate savings, debt from credit cards, and little to no retirement savings. Despite the seriousness of these challenges, individuals lack the necessary resources, assistance, or education to overcome them. As a result, many financial wellness programs have sought to improve employees’ financial security but have catches in their business model which constrain their ability to be transparent in their financial consulting. 

Empowering employees through financial education
BrightDime distinguishes itself as an innovative financial wellness consultant by prioritizing a personalized approach that fosters a strong relationship between financial coaches, employers, and employees. Through data-driven and unbiased insights, BrightDime offers the knowledge and resources to empower individuals to optimize their current financial situation. This is a hallmark of what BrightDime fundamentally does—Empowering Through Education. 

Gaining personal financial literacy can seem like an arduous task, and, oftentimes, it is. Making complicated financial decisions is mightily difficult without having the proper education. BrightDime’s prioritization of a personalized approach comes in the form of individual financial coaching by professionals at BrightDime

Unbiased coaching from BrightDime seeks to make complicated financial decisions simple while reducing stress for the individual. Through individualized financial coaching, professionals at BrightDime provide guidance on important financial decisions whether that is buying a home, planning for retirement, or planning savings for your children. 

While other companies provide outlines for financial betterment, BrightDime’s one-on-one approach guides individuals through complex financial decisions while teaching along the way. As a result, individuals attain a more comprehensive understanding of their financial situation while making financial goals that seek to reduce stress and provide financial security. 

The team at BrightDime understand the importance of building meaningful relationships within their own workplace while also truly advocating and caring for their partners: “BrightDime is a trustworthy and caring partner to employers because we only care about the financial well-being of employees. There are no product sales, advertisements, or referrals. This is critical, in our view, in building trust with employers and employees. Our coaches truly care about the wellbeing of employees and want to improve their financial security,” says Jill Gilboy-Burton, BrightDime’s marketing director. 

Combatting employee stress in the midst of mass layoffs
Employees often feel neglected in their companies as not every company provides adequate financial wellness education or transparency when it comes to the short and long-term future, especially in the wake of recent mass layoffs and uncertain economic climate. As previously mentioned, the importance of financial security is paramount in the minds of workers at every level of the company. In addition, the cultivation of meaningful relationships between employers and employees can bring positive externalities to the company in the form of an improved work environment, increased collaboration, and higher levels of job satisfaction and motivation. 

Services offered by BrightDime offer an ideal solution for forward-thinking employers, regardless of their industry or size as the benefits of providing financial wellness programs greatly outweigh the costs when it comes to employees suffering performance-related anxiety that stems from external financial pressures. By evaluating the positive impact of providing such programs to employees, employers can make well-informed decisions that benefit their bottom line and their employees—two core tenets of efficient and effective companies. 

Additionally, the potential benefits of provisioning comprehensive, one-on-one financial coaching to employees will help reduce employee stress, minimize absenteeism, and lower healthcare costs, while also increasing productivity, retention, and talent attraction. Investing in financial wellness for your employees will undoubtedly show your genuine commitment to your employees while also cultivating a meaningful employer-employee relationship that furthers the mission of your company. 


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