WorkLife leverages community partnerships to help your employees plan for their financial futures

America has a financial literacy problem. Four in 10 adults don’t have enough cash to cover a $400 emergency expense. And, last year, more than 45% of WorkLife clients reported that financial challenges were their biggest barrier to stable employment. However, many people have never been taught the in the ins and outs of money management, and lack of access to professional financial guidance is keeping them from getting support.

Despite so many people struggling with personal finances, money is still considered a taboo subject and poor money management is viewed as something shameful. How can someone ask for help—or be honest about their financial situation—when they feel intimidated or ashamed?

WorkLife understands the impact that financial instability, and the stress associated with it, can have on both your employees and your business. First, we help our clients overcome immediate financial hurdles; then, we work with them to establish a household budget. To support them in achieving longer-term financial goals, WorkLife leverages our relationships with community partners.

WorkLife frequently refers our clients to mpowered, a Colorado-based nonprofit for those who want to learn about money management and participate in coaching to get started on their financial futures. All of mpowered’s financial coaches are certified through the Association for Financial Counseling, Planning, and Education and are experts in the foundations of personal financial health.

mpowered financial coaches start by not judging their clients’ circumstances. “We try to normalize whatever situation the client is going through, and we help them work through their emotions,” says Oscar Torres, mpowered financial coach. “We also always focus our conversations in the future, and don’t dwell on any ‘mistakes’ the clients may have made in the past. We let them know that there are solutions, and we can accomplish their [financial goals] together.”

From credit score improvement to debt management, mpowered’s services help clients establish goals for long-term financial stability. “We rarely see the same client for the same issue twice,” says Torres. “We have a deep conversation about their values and goals to make sure our clients have buy-in to our process. Typically, this is what sets them up for success.”

Nearly 60% of U.S. workers are worried about their financial futures, with more than half saying that money concerns are affecting their work. “We know that financial stress is a real phenomenon that can make people so pre-occupied that they can lose their jobs,” says Torres. “We’re working to prevent that.”

By partnering with WorkLife, your employees have access to community resources and personal financial coaches so they can start to feel more financially stable, less stressed, and more engaged at work. To learn more about mpowered, visit their website. Questions about how WorkLife leverages community partners to support your workforce? Contact us.