Are your employees financially literate?

Now that Thanksgiving has passed, many people have already started the countdown to Christmas—a joyful, but expensive time of year. Perhaps that’s why the Parliament of Canada officially designated November as Financial Literacy Month (FLM). Now in its fifth year, FLM exists to inform and provide resources to help strengthen the financial well-being of Canadians and their families. The goal of the National Strategy for Financial Literacy is to mobilize and engage public, private and non-profit sectors to strengthen the financial literacy of Canadians and empower them to achieve the following goals:

  • Manage money and debt wisely
  • Plan and save for the future
  • Prevent and protect against fraud and financial abuse

As an employer in Canada, you can help make a difference while providing benefits, not only to your employees, but to your business overall.

Check out the Benefits Canada article “Financial wellness: the missing link in your employees’ financial plan” to better understand how promoting financial wellness in your workplace can assist with employee productivity, engagement and cost savings.

Wondering how prevalent financial stress is in Canada? Find out more in the Financial Planning Standards Council article “How is Financial Stress Affecting Canadians?”

We’ve included some links below that you can share with your employees to assist them with their financial wellness. Remember, financial health is not only a key component of overall health but of a productive workforce too.

If you’re interested in developing a financial wellness strategy for your workforce, please contact your Pension Consultant or Paul Webber at 1-800-912-6926.