Episode•January 12, 2023•20 min

How Ericka Young Is Helping Employees With Their Finances | Ep. 191

Ericka Young is on a mission to help employees take control of their finances. In this episode, Tiffany interviews her to discuss her company's corporate financial wellness program and how it is helping employees learn about money management and make better financial decisions. About Our Guest During her 17 years in business, Ericka Young has served over 500 families as a certified financial coach. Her specialty is helping people crush debt so that they can design a vibrant and intentional life. She believes that personal finance goes beyond the numbers and has developed creative ways to break down the mental and experience-based barriers to financial success. In 2017, she wrote her 1st best-selling book, Naked and Unashamed: 10 Money Conversations Every Couple Must Have. While helping her 2 daughters in their college decisions, Ericka witnessed first-hand the many barriers to accessing a debt-free college education. She has made it her mission to help parents and prospective students understand how to navigate these systems so no one in the family carries student loan debt through her college financial readiness workshops. Ericka has developed Financial Wellness Programs for companies and organizations to reduce employee stress and improve the overall bottom line. In addition, Ericka is passionate about creating diverse, inclusive, equitable communities. She is busy working to create a world where everyone is welcome in all spaces, and they have the financial resources to participate fully in those spaces. When Ericka isn’t crunching the numbers or at least talking about them, she loves traveling, dancing her heart out, and beating her husband of 24 years at word games. Connect With Ericka Young Website: https://www.erickayoung.com/ LinkedIn: Ericka Young Instagram: @ErickaYoungOfficial Facebook: @ErickaYoungOfficial Connect with Tiffany on Social Media Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

Financial wellness programs in the workplace reduce employee stress and improve productivity and retention.

Over 60% of employees come to work stressing about finances, affecting relationships, physical health, mental health, and productivity.

Companies offering financial wellness stand out as less than 20% currently provide such programs.

Retention improves when employees feel their whole selves are cared for, not just basic benefits.

Traditional 401(k) education and annual benefits presentations are insufficient for true financial wellness.

Employees often have pressing issues like debt and budgeting that aren't addressed by retirement-focused sessions.

Tiffany's experience showed employees remained disengaged with 401(k) contributions despite provider visits.

Financial wellness requires deeper, ongoing support beyond one-off presentations.

Outsourcing financial wellness to experts and using surveys creates measurable impact and engagement.

Pre- and post-event surveys help demonstrate ROI and employee sentiment changes.

Workshops, webinars, self-paced courses, and coaching can be tailored to company needs.

Creating a buzz through engaged employees spreads knowledge and enthusiasm organically.

Financial wellness fosters community, loyalty, and a culture where money conversations are safer.

Employees feel supported and cheered on by coworkers and leadership.

Programs create camaraderie and shared journeys toward financial goals.

This environment encourages engagement and long-term commitment to the company.

Intro

Tiffany interviews Ericka Young about corporate financial wellness programs and how companies can help employees manage money, reduce stress, and improve overall well-being and productivity.

Ericka Young is a certified financial coach with 17 years of experience serving over 500 families. She specializes in debt elimination, developed corporate financial wellness programs, and authored the bestselling book Naked and Unashamed: 10 Money Conversations Every Couple Must Have.

How Ericka Young Is Helping Employees With Their Finances | Ep. 191

Key Takeaways

Intro

– Defining Financial Wellness in the Workplace

– Impact on Productivity and Career Growth

– Why Companies Should Invest in Financial Wellness

– Why One-Off Benefits Presentations Aren't Enough

– Real-World Example: Lunch-and-Learn Success

– What Financial Wellness Programs Can Look Like

– Additional Implementation Ideas

– How to Connect with Ericka Young

Books Mentioned

Resources

Topics