"Briefing Employees on Financial Education and Retirement
Planning Makes Sound Business Sense"
For additional information contact: Gary
employee and consumer surveys how that an alarming percentage of workers
either do not contribute at all to their retirement plan or have only
achieved a small portfolio value (less than $15,000), in a time of decreased
national savings rates and in an era where employers are shifting both
benefit costs (health insurance, for example) and retirement investment
risk and responsibility to employees.
As a result, the Wass Consulting
Group, Inc. (WCG) has discovered through their wholly owned subsidiary
Employee Financial Education Associates, Inc. (EFEA) that most employees
are inadequately prepared to assume responsibility for retirement needs.
In a recently released Management
Insight article, WCG discusses this issue and a possible remedy through
an ongoing, yet relatively inexpensive, Financial Education and Retirement
Planning Program (FE&RPP).
Why should an employer bother
with educating employees on financial matters? Frankly, it makes good
business sense. Research completed by the National Institute for Personal
Finance Employee Education (NIFPEE) at Virginia Tech University suggests
a potential return on investment of "at least 3 to 1".
These returns are achieved through:
For additional information, refer
to our recent Management Insight Article titled "Financial Education
and Retirement Planning Programs (FE&RPP) - A Needed and Inexpensive
Employee Benefit". (PDF
format) (DOC format)
- Reduced rates of absenteeism
- Improved productivity, through less work time spent dealing with personal
- Improved employee morale
- Reduced "reluctance or readiness to retire", translating
into improved opportunities for junior employees
| WCG provides general management consulting
services exclusively to executive management. Traditionally employed
by Boards of Directors, Chief Executive Officers, and other senior
business executives on issues of significant strategic consequence
to the business, WCG is fully committed to the business and market
success of their clients, as measured by shareholder value.
WCG clients always benefit from seasoned consultants,
efficient work of the highest integrity, and direct partner involvement.
Our services address the unique challenges that executive
management and Board members face, including matters of mission, governance,
strategy implementation, organization structure, business process
transformation and re-engineering, and operational improvement as
well as executive search and merger analysis, planning and integration.