Financial Well-Being as a Retention Strategy for Nonprofits

In today’s highly competitive talent market, retaining staff is a top priority–particularly in nonprofit and human services industries, which historically have high turnover rates. In this webinar, Social Current Strategic Industry Partner Marsh McLennan Agency will explore the critical role financial well-being plays in retaining employees and offer a strategic framework for organizations to achieve this goal effectively.

There is an undeniable connection between financial stability and employee retention. Employees burdened by financial stress are significantly more likely to experience distractions at work. In nonprofit and human services organizations, where talent acquisition and retention are constant challenges, addressing these financial concerns takes on even greater importance.

Marsh McLennan Agency will share key findings from their report, The Power of Prioritizing Employee Financial Well-Being, which focuses on integrated well-being benefits offerings, encompassing compensation, benefits, and other perks that organizations provide to their employees. By including comprehensive integrated benefits that address employees’ financial needs, organizations can enhance their value and relevance.

But it doesn’t stop there, including an effective communication strategy and education as tools for ensuring employees fully understand and appreciate the benefits offered is just as critical to your plan.

Takeaways

• How financial uncertainty puts a strain on your workforce and leads to turnover
• As an employer, you can have a positive impact on your workforce’s financial security
• How to provide strategic and integrated benefits, create a culture of support, and communicate benefits effectively

Who Should Participate

• Executives
• Human resources staff