It is a good idea to organize financial counseling sessions for new employees. The financial counseling should ideally be done as part of employee orientation. The need to organize financial counseling for new employees is based on two facts. First is the fact that many people (by default) lack good financial management skills. They are unable to manage their finances well. And secondly, employees who have finance-related stress are unlikely to be highly productive. In other words, finance-related stress leads to lower productivity. Therefore, to ensure that your employees’ productivity isn’t affected by such issues, you can opt to organize financial counseling as part of their orientation.
There are two key ways in which you can get the new employees to undergo financial counseling, namely:
- By hiring in-house financial counselors
- By contracting external financial counselors
The biggest challenge you may face here is that of getting the new employees to set aside adequate time to go for the financial counseling sessions. This can be particularly hard if you operate on a tight schedule, akin to the krowd darden schedule. The said schedule is used by the people who work at Darden restaurants. And in that particular (Darden restaurants) case, the new employee is likely to be more concerned with questions like the one on how to sign up for krowd portal access. Things like going for financial counseling sessions are likely to be very low in the list of priorities.
Another challenge you may face is that of getting the new employees to take the financial counseling sessions seriously. Some may opt to go just as a formality — like if you include financial counseling in the orientation program. But you have to understand that getting the new employees to go for financial counseling sessions is one thing. Getting them to actually take the things they learn (in the course of the financial counseling sessions) seriously is a different matter altogether.