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Next steps

The most successful organizations are run by leaders who realize their most

important asset is their people. These people differentiate themselves by

giving their organization something that impacts them more than higher

wages alone: tools for moving forward.

The first step is to redefine your benefits strategy. Yes, you're offering

financial tools—but are they the right ones? If the tools available are overly

complex, hard to manage, or simply not giving people what they need at the

time they need it, then they're effectively useless.

Hard-working people in your organization are trying to make ends meet.

They're drowning in debt, and reaching for services that claim to be a life

raft, when in reality they're just anchors in disguise. The financial

institutions that should be helping are taking billions of the wages—annually

—in the form of payday loans, overdraft fees, and credit card interest. It's

institutional wage theft. But organizations have the power to step in.

A holistic financial health program can address all these problems. It’s not

just about higher wages, just like it’s not about making a budget. Before

people can plan for their futures by participating in things like 401(k)

programs, they need to address today’s needs: getting bills paid, and building

their savings. People need access to healthier solutions that don't dig their

holes even deeper. They need solutions that turn their paychecks into

progress. Only then will people leave their financial stress behind, and be

their best selves.