Filene Research Institute estimated in 2018 that an employee distracted by financial stress loses three hours of productivity per work week addressing finances. We know that during the height of the pandemic this number only went up and that families are still dealing with the aftermath. If the pandemic taught as anything about work, it’s that people bring their whole selves to work (or their work to their whole selves and dining room table).
As employers learn to grapple with these new realities affecting work, proactive employers are seeking solutions that support the whole employee. Part of Parsley’s mission is to help employers do just that and support the economic flourishing of their workforce. That’s why we were excited to participate in a panel at the Madison Economic and Diversity Summit, hosted every year by Urban League of Greater Madison and Madison Region Economic Partnership.
In a panel moderated by Madison Region Economic Partnership President and CEO, Jason Fields, Parsley Founder and CEO, Lana Wood joined co-panelists Sarah Campagna, managing VP of Financial Empowerment at Summit Credit Union, and Tammy Steller, Service Model Manager at Total Administrative Services Corporation (TASC) to share insights on how employers can help support employee financial wellness.
Parsley is using this blog to share resources from other panelists as well as our own Tips for Employers.
Check out the resources below to learn more about how financial stress affects workers and what employers can do about it by leveraging benefits and financial education through workplace wellness efforts. Many of the resources below are specific to Madison, Wisconsin, but if you’re reading from somewhere else, we hope this list helps you find similar financial institutions, educators and coaches in your area.
Resources from the Filene Research Institute
Downloadable report and an easy to follow slide deck summary.
Use Filene’s calculator to estimate the cost of financial distraction to your workplace productivity.
Resources from Summit Credit Union
No Cost Workplace Financial Wellness Program
Free Financial Education Webinars & Events
Free Worksheets, Calculators, Blogs & Podcasts
Free financial coaching and credit report review. Available over the phone, in person or via video appointment: Select financial advice as an appointment type.
From Parsley Solutions
Guide to share with employers and HR professionals
Resources from Total Administrative Services Corporation (TASC)
Tax Savings Calculator
Explore Benefit Accounts Available to Employers
Learn about Benefit Accounts
Below is a collection of financial education and coaching resources that provide a range of programs from individual coaching to group events. Each organization provides different services and may have different program offerings throughout the year. This list is by no means exhaustive.
FEC’s mission is to teach money management skills to Dane County individuals and families. They provide unbiased, accessible financial education through workshops, one-on-one coaching and other asset building services.
The Financial Promise is dedicated to working with communities to increase personal financial and business literacy so they can invest in themselves to build financial stability, careers, businesses and wealth.
A national nonprofit focused on financial wellness through financial crises: overwhelming debt, foreclosure, bankruptcy, or credit challenges.
Helping immigrant families become more financially powerful by learning how to manage money, invest, and start online businesses.
LAWD’s mission is to strengthen our diverse communities by providing linguistically and culturally competent adult education programming that advances opportunities to ensure that individuals and families thrive socially, economically, and civically. LAWD provides Spanish Language financial literacy classes on a rolling basis. Call to inquire about the schedule.
The Melanin Project is on a mission to eradicate wealth disparities for women of the Black and African diaspora. Programs support building generational wealth through advocacy, personal empowerment, and financial wellness coaching.
Midwest Mujeres’ mission is to reduce poverty and income inequality by providing educational online opportunities that support underrepresented women entrepreneurs to grow their dreams.
Provides periodic bilingual financial wellness programming. Learn more on their website.
Provides Sisterhood, Coworking and Education that seeks to help black women realize their personal and career goals by providing members with regular workshops around professional development, entrepreneurship, wellness, and financial health.