HRO Today March 2017 - 49

Learning
Train For Today
and Tomorrow
Employees-and organizations-can benefi t from fi nancial, soft
skills, and leadership development programs.
By Andrew Allen
When it comes to training programs, most organizations
tend to stick to the basics: skills needed to perform
everyday functions or topics covering compliance
requirements. While those are important and necessary,
HR leaders should consider additional types of training
that can benefi t employees and the bottom line. Financial
management, soft skills, and leadership training are
three areas that can increase employee well-being as well
as productivity and retention.
Financial Management
Money is obviously a major motivator to employees,
but a bigger salary isn't always in the budget. While
organizations can't always give employees the fi nancial
reward that they want, workers can still benefi t
fi nancially if they are given fi nancial education training.
Why? This helps make their money go further. Financial
training will not only work in favor of the employee,
but also the business where they work. For example, a
[50]
HRO TODAY MAGAZINE
| MARCH 2017
Financially stressed employees are more likely to look for
higher paying jobs that can help eliminate their fi nancial
debts more quickly. But employees may continue to have
fi nancial issues if they do not fi nd a way to manage their
fi nances. What does this mean for organizations who
don't provide fi nancial training? Higher turnover.
Given the importance of fi nancial education to an
employee's performance, it should come as no surprise
study by the Wellness Council of Indiana found fi nancial
problems are frequently listed as the top source of stress
experienced by employees. While it may seem that it's
the worker's problem, stress bleeds into work life. In fact,
80 percent of those stressed employees try to deal with
fi nancial worries at work. The same report also showed
that fi nancial stress is costing companies $7,000 per
employee each year. Financial stress can lead to lower
productivity, increased accidents, and lost days of work
due to stress-induced illness.

HRO Today March 2017

Table of Contents for the Digital Edition of HRO Today March 2017

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