Retention During The Great Resignation

Most experts estimate that it could take years for Americans to recover financially from the burdens of the last 2 years. According to PEW research, 44% think it will take them three years or more to get back to where they were a year ago – including about one in ten who don’t think their finances will ever recover. Americans rank their finances as the single biggest source of stress in their life. We know that financial stress can lead to a loss of productivity, increased absenteeism, and job loss. Money touches nearly every aspect of a person’s life. This is one of the reasons we are passionate about teaching good money management principles. 

We know that financial wellness can bring impactful help to employees at any stage or circumstance. Also, when an employer offers a financial wellness program, they are informing their team that they care for them. When an employer stays connected with the struggles of their team it helps create a more intimate work culture. At its core, company retention is about ensuring employee satisfaction and a successful retention strategy finds a way to help employees feel fulfilled in all areas of their lives. When employees are less stressed about money, they’re more focused at work. This, in turn, can reduce absenteeism and improve overall retention rates. Employers who are seeking to improve retention rates should consider some of the problems causing employee turnover, and money issues are high on the list.

One of the things, as Financial Coaches, that has been on our hearts over the last couple of years is making a division that is more available to businesses in our community. So we are very excited to be launching  Journey Financial Group.

 For local businesses, Journey Financial Group provides tangible benefits to stressed employees — and their employer. It was created to impact the business community as well as the individuals who are struggling.  We have developed three core products for the workplace. 

1. A Wellness Assessment is the perfect balance of, keeping employee information private, while employers have access to key analytics that show overall employee financial stress and stress levels over time. 
2. The Simple Budget Workshop provides an in-depth introduction to the 5 key areas of financial wellness that we have implemented over the last 11 years in NWA. We teach practical savings methods that prepare each participant for the inevitable reoccurring costly events of life. 
3. One-on-one Coaching that we provide not only has an immediate wellness impact but also helps to shape good financial habits for a lifetime. 

How we make this affordable. As with most professional services financial coaching can be costly when done company-wide. Journey is able to maintain our priority for community impact and keep costs low because our prices are made affordable by the generous support of people that have the same heart for businesses and individuals.

TR Laughlin is a financial life coach with Journey Financial Group.  He loves helping individuals and families put together plans that move them to the next step in their personal finances.  Married to Susanna for 20+ years, TR lives in Rogers, AR.

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