Providing financial education to employees
Financial stress can be reduced if employees are able to manage their money better. An effective way to do this is to provide financial education in the workplace to equip your employees with the knowledge and skills to make informed financial decisions. It does not have to be costly or complicated and here are a few items that you can easily implement:
- Communicate employee benefits clearly, e.g. include information about the employer's voluntary MPF contributions, medical/health insurance and other benefits in the induction training, or send alert/reminder emails on policy changes that will affect their financial well-being (such as tax refund)
- Invite your MPF and insurance service providers, or consultants in the financial sector to communicate the benefits that you offer to the employees and discuss the related money matters with them
- Share financial education information which are readily available via email or other communication channels such as employee intranet/newsletter. For instance:
- Expense tracking app and budgeting worksheet and other Money Management Tools from The Chin Family's website
- Dedicated pages on money issues for new to work employees and pre-retirees from The Chin Family's website
- MPF Education section, Default Investment Scheme minisite, and useful tools such as the Fund Performance Platform and MPF Calculators from the Mandatory Provident Fund Schemes Authority's website
- Latest information on consumer protection from the Consumer Council's website
- Smart tips on using banking and related products and services at the Consumer Corner from the Hong Kong Monetary Authoritys website
- Latest Scam Alerts from the Police's Anti-Deception Coordination Centre's website
- Encourage information dissemination, regarding updates of staff benefits or seminar participation opportunities, through line managers or staff representatives
- Provide money management tips to your employees to keep them abreast of the latest market updates and enhance their motivation in managing their finances. You may contact us to get our monthly money management tips tailored to employers every month.
- Organise financial education programmes and thematic seminars in the workplace - compare the programmes offered by different programme providers that can cater your employees' needs. You may also talk with us to understand more about our Manage My Finance and RetireWise programmes.
- If resources allow, appoint a consultant to tailor a holistic financial wellness programme to your employees.