Employers, what is your #1 asset?

Posted on March 15, 2010. Filed under: For Employers |

Your employees.

What does the marketplace offer employers for online advice to employees? Presently your employees only have access to Retirement and Investment advice, which is only 9% of what employees are looking for help with. Yet debt management and budgeting issues are roughly 80% of what employees need help with.

Productivity studies also show that employees spend an average of 2.5 hours/week of company time on financial issues, or 125 hours/year of company time, or roughly $2,500 of lost company productivity, assuming a $40,000 average salary. Most employers don’t even know this as they don’t see this loss itemized on a company report because it’s not something that’s tracked.

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