Progressive Employers Support Financial Wellness
Conference Board of Canada
Each of the profiled companies has been recognized by Great Place to Work Canada as an organization that encourages and supports financial health for its employees.
Progressive employers recognize a relationship between employee financial wellness, workplace productivity and their own bottom line. Research shows that financial stress is a major distraction at work that can lead to presenteeism, absenteeism, and loss of engagement. Employers increase their competitive edge and strengthen their ability to attract and retain talent when they help their employees build financial literacy and address concerns about issues like debt management and retirement savings.
Employers can choose from a range of delivery strategies. Among very large organizations, RBC in Canada and KFC in the US have harnessed people power as well as the potential of technology to offer financial wellness programming in a variety of media. At RBC, Invest in Yourself is a comprehensive financial education and resources program that includes an online educational program as well as financial literacy events, such as seminars and webinars. In April 2018, the KFC Foundation launched MyChange, a new program offered in partnership with Sum 180, an online financial wellness service. MyChange pairs a confidential financial wellness app with a personal advisor to empower employees to take charge of their money. www.qrsmagazine.com
To find out how Canadian employers, generally, are supporting the financial wellness of their employees, bh asked Great Place to Work Canada (GPTW) to identify organizations that encourage and support financial help for their employees. What follows are quotations from GPTW that provide an overview of financial wellness initiatives already in place at organizations already deemed Best Workplaces in Canada by the Great Places to Work Institute® Together, with RBC, which has also been recognized as a GPTW, they provide a profile of Canadian employers leading the way.
Banking Privilege Program
Founded in 2003, eXplorance is a privately held corporation based in Montreal, Canada with offices in APAC, Europe, and Latin America. With employees working across the globe, eXplorance is renowned for its strong company culture and has been recognized for its growth, technical innovation, and entrepreneurship. www.explorance.com
Easing student debt
Cadence is a leading provider of system design tools, software, IP, and services. Its Canadian office is in Ottawa. www.cadence.com
Flexible Pension Plan
ATB Financial is the largest Alberta-based financial institution with a network locations across Alberta. www.atb.com
FreshBooks is a cloud accounting solution designed exclusively for small business owners. It began in a basement in Toronto in 2003 and now has over 200 employees and paying customers in over 120 countries. More than 10 million people have used FreshBooks to send, receive, print and pay invoices. www.freshbooks.com
Learning about Mortgages
PEER Group, based in Kitchener, is a leader in factory automation software for smart manufacturing and Industry 4.0. Over the years, PEER Group has helped high-volume manufacturers and equipment suppliers in all high-technology industries including semiconductor, optoelectronics, MEMS, electronics assembly, and photovoltaic. www.peergroup.com