ITA and Windgate Wealth Management Release Whitepaper on Building a Culture of Financial Confidence
Wednesday, September 28, 2016
Posted by: Gary Hotze
In the war for talent, employees are looking for benefits that extend beyond health care and ping pong tables
Chicago, IL – September 28, 2016 – The Illinois Technology Association (ITA) and Windgate Wealth Management today announced the release of a white paper providing practical advice and rational for building a culture of financial confidence. One of the most important things an organization can do to ensure success in both the short and long term is to foster a happy workforce. But “happiness” is a big, fluid term that can vary wildly from individual to individual, and trying to create it out of whole cloth—through supplementary programming and unconventional perks—can cause a strain on management and resources and offer unpredictable results.
A more efficient approach is to determine the bedrock factors that influence employee happiness, and solve to those. And perhaps the biggest foundational component of employee happiness is also one that’s often thought of as a taboo subject in professional settings: money.
Less than half of employees across all generations believe their employer cares about their financial well-being, while a much higher percentage (77 percent of Millennials, 73 percent of Gen X, and 55 percent of Baby Boomers) indicate that they are more likely to be attracted to a company that does care, according to Metlife Employee Benefit Trends Study, 2016.
“Because our members often struggle to attract and retain tech talent, we felt it was important to invest in the creation of an educational piece that provides insight on this critical component of employee satisfaction,” said Julia Kanouse, senior vice president membership + marketing, ITA. “An organization invested in the financial well-being of its employees, communicates to employees that they are valued and creates a competitive advantage in the talent marketplace.”
“We’ve recently noticed a trend with our clients wanting to offer more robust and unique benefits to their employees,” said Sean Condon, Certified Financial Planner™ at Windgate Wealth Management. “We’ve seen firsthand in our experiences how many of these benefits – whether they are 401k plans, financial planning services or stronger health insurance plans – all correlated to financial well-being. We are pleased to partner with ITA to offer additional education on how to build a culture of financial confidence.”