A Creative, Holistic Approach to Financial Wellness in the Workplace
Goodwill NCW takes a creative approach to providing financial wellness in the workplace. Because Goodwill’s number one value is “We put people first…all people,” there is a strong commitment from the leadership team to bring alive an intentional culture caring for the whole, unique person—its team members. This is evident in several programs and offerings available to all 1,400 Goodwill team members located throughout a 35-county region across Wisconsin.
Circles of Care: The creation of the Circles of Care team is seen as an opportunity to help Goodwill NCW’s team members address their life challenges, whether those difficulties are emotional, spiritual, psychological, physical or financial. The Circles of Care team is comprised of two health and wellness coaches, a financial wellness coach, a full- and a part-time interfaith chaplain, and a close relationship with mental health providers through the Team Member Assistance Program (commonly called EAP in other organizations.) Together, they work to care for team members as individuals and to encourage and nurture a culture of wellness.
Financial Wellness Coaching includes one-on-one support for team members with financial concerns or goals. The coach offers education and training in all areas of personal money management, makes referrals to other community and government agencies and helps fulltime team members navigate forms and increase their understanding of benefit offerings.
Hand Up Fund: Provides a means to assist team members who are facing serious financial situations and crises with funds donated from Goodwill team members across the organization. A small committee reviews the confidential applications and determines what kinds of assistance may be available. Among the ways this fund has helped team members since the January 2013 rollout are with funeral expenses, car repairs, travel to see gravely ill relatives, food and rent.
Financial Information and Services Center (FISC): A program of Goodwill as a non-profit consumer credit agency (NFCC member) that works with the broad communities they are a part of, including Fox Valley Technical College, Northwest Technical College and several businesses. Goodwill pays for all fees on behalf of team members to receive financial counseling, bankruptcy, foreclosure and other educational offerings and debt management plan fees.
Goodwill NCW’s leaders have witnessed several measurable, positive financial impacts of these supportive programs and offerings. For example, they have seen 1) negligible increases in its health insurance premiums for the last three years, 2) an increased understanding and participation in its other benefit programs, and 3) healthier habits throughout the workforce. However, the largest benefit seems to be in the hearts of the team members who have come to realize that they are truly cared for and supported – as they are – in a very visible and real way.
“Rule No. 1:
Never lose money.
Rule No. 2:
Rule No. 1.”
“Don't save what is left after spending;
spend what is left
“If you buy things you don't need, you will soon sell things you need.”
Financial Education in the Workplace
Governor’s Council on Financial Literacy
Workplace Financial Literacy Workgroup
WI Department of Financial Institutions
Office of Financial Literacy
201 W. Washington Ave., Ste. 300 (53703)
PO Box 7847
Madison WI 53707-7847