The human arsenal knows no real boundaries, but honestly speaking, it still hasn’t seen anything more crucial to our existence than that desires of growing on a consistent basis. We can say this because the stated desire has already fetched the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is purposed around its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired by the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did expand our experience in many different directions, but even after reaching so far ahead, this prodigious concept called technology will somehow keep on delivering the right goods. The same has grown to become a lot more evident in recent times, and assuming one new HRM-themed development pans out just like we envision, it will only propel that trend towards greater heights over the near future and beyond.
TrueNorth Companies, L.C., a closely and privately held risk management and insurance brokerage firm, has officially confirmed the launch of its brand-new Center for Financial Well-Being solution, a solution which, like the suggests, is designed to encourage a better financial reality for US-based employees. Powered by FinFit, the solution establishes a special focus on financially distressed workforces so to help them make constructive changes in terms of how they manage their money. Talk about the way this whole effort works on an actionable note, the answer stretches across four main principles i.e. awareness, motivation, action, and success nudges. Starting with awareness, the platform here basically asks every employee to take these health checking and personalized assessments that gauge their unique spending, savings, planning, and buying habits. Once all the required information is logged, it leverages an intelligent framework to deliver an action plan and other complementary tools customized as per the worker’s needs. Next up, we have the motivation facet where the platform provides education and budgeting tips, thus forming a value package which should empower employees to improve on their relationship with money. Moving on to action, this one has its utility rooted in giving employees a real-time look at their finances. Notably, it further tells them where they are doing well, and where amendments may be required to achieve a better performance. Not just that, the action segment even has dedicated calculators to timely alert the user against any financial challenges that could be on the cards. Rounding off the list are those success nudges. Success nudges are essentially real-time notifications and rewards meant to put-forth simple and quick feedback at the disposal of every worker as they reach their predetermined goals.
“The financial hardships facing working Americans is staggering. They’ve battled and persevered through one crisis after another, but the pressure won’t let up. TrueNorth is proactively taking that step, extending that hand, to provide the tools necessary for employees to thrive even during the toughest of times,” said Tim O’Neil, Senior Workforce Solutions Specialist at TrueNorth Companies.
The development follows up on one recently-conducted FinFit survey, which revealed that financial stress has, by far, one of the biggest influences on a person’s performance at work. However, what makes TrueNorth and FinFit as ideal candidates to solve the stated conundrum?
The former’s case is made by its track record of getting every client type to navigate risk in the most efficient manner, while also conceiving for them a seamless insurance brokerage experience. TrueNorth’s excellence in what it does can be validated from the fact that it is currently present in over 20 states across US.
In FinFit’s case, the testimony comes from its ability to provide SaaS-based financial wellness services, including a personalized financial assessment, premier educational resources, online money management tools, financial coaching, financial solutions, early wage access, spending and savings accounts, student loan services, and a member rewards program. Serving over 500,000 organizations at the minute, FinFit has managed to reduce financial stress and increase employee retention by more than 25%.
