Employee happiness is one of the most vital elements to a successful business. By keeping your employees satisfied with incentives and benefits, you’re maximizing productivity and creating a culture that’s both stimulating and secure. When morale is high, staff turnover is low, and your appeal to prospective employees increases.
This brings us to one of life’s greatest stresses: money, and the saving thereof. Modern living is placing an increased financial burden on the millennial generation, and studies have shown that people are earning less, and therefore saving less.
According to GOBankingRates, a disheartening percentage of Americans have absolutely nothing in their savings accounts. The survey discovered that a hefty 39 per cent have $0 saved, which is an increase from 34 per cent in 2016. This presents dire consequences for those who are not adequately prepared for financial problems in the future. Many young people live paycheck to paycheck and are further burdened by debt very early on. Whether it be student loans, credit cards, or just the cost of living in an expensive world, it can at times feel like your head is barely above the proverbial water.
Debt is not localized, either. Financial stress has a ripple effect that influences all aspects of life, causing very real, and very serious mental and health issues. It goes without saying that a person will carry this stress into the workplace, directly affecting productivity as well as office morale since nobody works in isolation. Thankfully, there is an employee benefits solution, and your business can be the one to provide it:
TrueConnect — the employee benefits solution for a staff member in need
When emergency strikes or an employee needs a financial helping hand, TrueConnect is your trusted loan solution partner. TrueConnect is a voluntary benefit to help employees with their personal finances, providing access to a safe, regulated bank loan at no cost or financial risk to you, the qualified employer. TrueConnect’s many benefits include:
- No credit score needed to qualify
- Free Financial Choice counselling to all TrueConnect borrowers
- No financial cost or financial risk to qualified employers
- Provides a safer alternative to “payday loans”
- Separates employer from the personal financial lives of employees, while providing a safe solution to employees in need
- Automated loan origination and administration
- No benefit enrollment process
- Available to over 1,200 employers across the US
- Meets and exceeds all regulatory requirements for consumer bank loans
Why your business needs TrueConnect
In short, offering to help employees with financial burdens shows that you, as an employer, think of them as more than just a cog in the machine. It shows you care. MetLife published statistics that confirmed this. Nearly two-thirds (62%) of employees — including 75% of Millennials — say they’re looking to their employer for more help in achieving financial security through employee benefits.
But it’s not just about the emotional payoff — your company will see benefits in a business sense, too. When an employee believes you have their best interests at heart, they won’t hesitate in going the extra mile for you.
TrueConnect makes loans of up to $3,000 simple. There is no cost to you as an employer, no enrollment process, and loan application is fully automated and easy to administer! Our loans are easily repaid, in small, secure automated payroll deductions over a full year.
Reap the benefits of high morale and employee trust by starting a TrueConnect payroll loan today! For more information, please head over to our website.
