WACEE believes that an employer who prioritizes productivity and morale should include employee education in their plan of action.  Education in financial planning, investing, personal wellness, home ownership, debt management and legal matters all contribute to a motivated, vibrant and intelligent workforce.

Employee education is a key factor in improving employees’ lives, resulting in increased productivity, lower stress levels, fewer distractions and increased commitment to your organization.

Need proof?

The American Heart Association reports that lifestyle-related health choices account for over $100 billion in lost workplace productivity. By offering valuable employee education, your organization stands to benefit by directly increasing your bottom line.

With employee education, you are enabling your employees to improve their lives, as well as reap the benefits of financial management, personal wellness and a host of other valuable topics. The following represents the key areas of education, as well as some startling statistics and facts highlighting their importance:

Financial and Retirement Planning   back to categories
Planning for retirement and overall finance management takes more than simple organization; it takes education, know-how and expert guidance. Overall, Americans nowadays are doing extremely little to prepare for retirement, their children’s education and other major financial commitments. Even more so, Americans are largely unaware of how drastically their lives can be impacted by such apathy or unawareness.

Coupled with this disorganization is the sense that Americans are largely overwhelmed by the prospect of financial and retirement planning. Due to a lack of education, information and know-how, Americans are facing, or will soon face, major financial problems.

• According to the SEC (Securities and Exchange Commission), only 5% of American workers believe that they know enough to make good financial decisions.
• The American Association for Retired Persons (AARP) reports that 31% of American workers aged 40+ has saved nothing for retirement.
• In addition, 53% of American workers feel their level of debt is a problem in their lives.

• Over $9 billion is lost annually due to diet- and fitness-related illnesses.
• One in three adults currently has some form of cardiovascular disease.
• In over 58% of all deaths in 2004, cardiovascular disease was a contributing or underlying factor.

Additionally, the Center for Disease Control has reported that in 2004, over 24.5% of Americans aged 20 years or older were obese.

With such information, it is obvious that much of our nation’s population is currently suffering due to misinformation or lack of education. It is therefore imperative that employers realize the consequences of such facts and provide their employees with access to information that could increase health and possibly save lives. Employers are becoming increasingly aware of the impact and influence a person’s wellness can have on their workplace performance.

Taxes  back to categories
Taxes represent a two-fold problem for many Americans. First of all, as noted by the Wall Street Journal, the IRS tax code consists of over 66,000 pages of regulations, loopholes, special-interest rules and other guidelines. With all this information to sort through, attempt to understand and manage, it’s no wonder that, according to H&R Block®, taxpayers overpay an average of $400 per return.

And taxes are no small matter. Your employees, though physically at work, might be focusing on any number of tax-related stress and distractions, simply due to a lack of information. Tax return mistakes could result in workplace absences, distraction, audits, garnished payroll, criminal penalties and more. Imagine how much of a negative impact this could have on both workplace morale and productivity. By educating your employees about taxes, tax breaks and savings incentives, they’ll have the information necessary to make smarter decisions and fewer mistakes – resulting in increased productivity and morale for your organization.

Home Ownership  back to categories
Home ownership is one of the most significant financial commitments made in a person’s life. Unfortunately, more and more people are entering into this major agreement without being fully prepared, educated or able to follow through. As a result, many mortgage holders wind up defaulting on those loans and in some cases, declaring bankruptcy or perhaps going into overwhelming debt.

In addition to this stress, according to the U.S. Department of Housing and Development, housing costs in King and Pierce Counties have increased over 35% over the last five years. Such increases in a relatively short time make it additionally difficult, especially for first-time home buyers, to secure and maintain a mortgage.

Negative effects, such as bankruptcy, overwhelming stress, debt, relationship tension, increase commute times and more will doubtlessly have a hugely negative impact on both the employees and employer.

By educating your employees about the ins and outs of home ownership, including mortgages, financial planning, money management, etc. you and your employees can avoid the costly and stressful pitfalls that could impact an organization.

Legal Matters  back to categories
Having ones affairs in order, including the proper estate documents, can alleviate much undue stress and suffering.  Changes in HIPPA regulations made in the last decade impact everyone.  Who will make decisions for you should you be unable?How will your estate will be distributed according to your wishes if they are not known?

The AARP (American Association of Retired Persons) conducted a recent poll with the surprising finding that over 70% of their members do not have proper estate documents.

Given the importance and the weight of such documents, it is imperative that employers provide employees with valuable education concerning matters such as these.

The overwhelming stress, uncertainty, distraction and absences that could affect an organization should be more than enough to warrant workplace education concerning such pressing legal matters.