Financial Literacy

• Productivity my decrease (by as much as 20 hours per month per employee 1).
• Accidents may increase (60 percent to 80 percent of on-the-job accidents are related to stress 2 ,3).
• Health issues may arise, promoting greater need for medical attention (between 75 percent and 90 percent of all visits to doctors are stress related 4,5).
• More employees may leave their jobs (40 percent of employee turnover is due to stress 3).
• Human Resources Departments will become busier (attending to money-related distractions can account for as much as 10 percent of the departmental budgets 6).

The DOL and now the Supreme Court wants to send a strong message to employers that they need to take their fiduciary role seriously because the financial future of millions of Americans depends on it. Failure to do so is "A CEO's worse nightmare" as Bill Arnone of Ernst & Young stated at a recent BMFE Conference, since employees can not only sue the company, but the CEO and all Plan fiduciaries personally.

Our Approach

Prevention is the key. The ESQ –Financial Educators Group has developed a comprehensive approach to resolving workplace Financial literacy education issues and is delivering an exciting new employee benefit. At the heart of our program are coaching services for employees. The program is the "gold standard" of the industry. We train and certify individuals that complete a rigorous five-level certification program in order to become Certified Money Coaches. These coaches provide answers electronically to employees in over 200 financial related topics. We are committed to provide a response within 48 hours. Our responses were developed by leading experts in the financial field.

The ESQ-Financial Educators Group also has a team of professionals that have completed a training program in order to become Certified Instructors. These instructors provide educational seminars and workshops at the worksite and at the request of the employer. This training varies in length and covers such topic areas as follows: Managing Your Money, Investing for a Great Retirement, Find More Money this Summer, Find More Money for the Holidays, and Find More Money for the New Year. Additionally special seminars and workshops can be developed at the request of an employer.

Supplemental Solutions:

What is a Money Minute? Again, at the request of an employer, we can provide a weekly publication that focuses on timely issues to help employees make smarter decisions throughout the years. We call these "Insider Secrets" and they can be delivered to the designated contact person of an employer for their dissemination. Employees become more informed and can make better decisions.

How about Just the Facts! This is usually a very current one page summary of financial facts and trends that affect both employer and employee. We entitle this publication our "Financial Wellness Alert." This publication is randomly sent out throughout the year for dissemination to employees.

Need a special topics alert, try the BenefitsBeacon! This publication is developed as Major Findings, Opinions, Legislation, etc. become known to the public. It is distributed to professionals, as well as employers, as developed.

The ESQ-Financial Educators Group is committed to providing workplace financial literacy solutions for both employers and employees. We welcome partnerships with other trusted advisors such as Certified Public Accountants, Human Resource Consultants, Group Benefit Administrators, Retirement and Pension Consultants, Attorneys and others that can see the value added benefit of our services for their clients. We welcome the opportunity to be of service.

Financial Literacy

1. Garman, E.T. The Importance of Workplace Financial Education to Employers. The American Express Guide to Workplace Financial Education and Advice., New York: American Express Financial Advisors, Inc.

2. Herman, R., and J. Gioia 2003. Workplace Accidents May Increase in 2004. The Herman Trend Alert, May 7.

3. Job Stress Yonkers, NY: American Institute of Stress.

4. Alcohol and Other Drugs in the Workplace. Jackson, Miss.: National Council on Alcoholism and Drug Dependence of Central Mississippi Area.

5. Smith, Sandy, 2002. High Stress Linked to Spiraling Health Care Costs. EHS Today. 16 July.

6. Based on discussions of Deborah Price, Consultant with numerous human resource professionals.