Financial wellness is quickly becoming a major topic in the benefits industry. The after effects of the 2008 Recession, with its crushing impact on mortgages and credit cards, is one of the reasons for decision-makers to look at a means of helping employees with business advice. Millennials are saddled with mounting college debt and employers know how devastating this can be. It is no surprise that vendors are stepping forward with what look to be amazing plans for organizations to think about. We suggest management think very carefully. Not all of these schemes are effective.
Personal Finances are Complex
You cannot offer only one form of assistance and expect that this will be sufficient. Financial problems can be more than just not being able to pay a credit card on time. The difficulties may be peculiar to a demographic. For example, new college graduates may have college debt, but more established employees may have challenges with their mortgages. All groups may be running into confusion about how to order their financial information. What is common to all is a sense of anxiety and stress. Worrying about how to pay the bills and distract a person from doing highly productive work. Decision-makers need to review those possible plans that offer the most for all employees. They will find that is the case with the Countrywide Pre-Paid Legal Services financial wellness program.
Advice and Education
Countrywide employs a nationwide network of certified counselors to aid plan members. Hot topic areas such as credit card debt, college loan repayment, and help with medical debt are elements of a comprehensive Countrywide plan. Our counselors are seasoned experts who are familiar with these crisis points. They can guide the individual on the right path to financial security.
The advice they provide gives insights into solutions many financial wellness plan members didn’t know before. Ways of restructuring debt will be discussed, and whatever public programs which can help will be noted. Plan members are advised on how to go about getting the additional help needed.
Budget counseling is something that we offer, and a debt management plan is available for those who are in dire straits (please keep in mind there is an extra cost for that service). Financial wellness efforts include counseling sessions that cover topics such as children and money, foreclosure prevention, bankruptcy, and even simple grocery shopping tips. Everything is designed to help a plan member know that there is light at the end of the tunnel and that finances can be brought under control.
It must Fit the Population
No matter what the vendor says, the final plan should be able to respond to the needs of all the employees. It is not always easy to do that, and some vendors will have a boilerplate, take it or leave it, kind of plan document. Countrywide will not do that. We know that decision-makers have a better idea of their organization’s workforce. We want them to fit the program to the demographics of the group. Consequently, we allow clients to choose from among our financial wellness program options. A younger population may need college debt counseling, while housing education may be more important for another group. We step back and let prospective clients decide what is going to be best for those who work for them. Countrywide commits itself to providing superior service. Our counselors give priority to plan members. They also provide the kind of empathy and respect that management wants employees to experience.
Financial wellness programs are starting to crop up and forward-thinking companies are looking at them. We encourage you to look at what Countrywide has to offer, and how we can do better than the competition. We invite you at your earliest convenience to contact us and ask as many questions as you like about the Countrywide program and its benefit op