Consumer Credit Counseling Services of the Savannah Area (CCCS) has teamed up with the Edel Employee Assistance Program in Georgia to offer employees of participating companies access to a variety of financial education services. These offerings include credit counseling, and in-person financial coaching sessions through CCCS, and mental health support, resources for caregivers, linkage to senior activities, and general resource coordination services through Edel.
“They do the grief counseling; they do the mental health counseling. We complement their offerings because traditional EAPs do not offer the types of services that we offer as a consumer credit counseling service.” — John Wills, President, CCCS
Edel and CCCS have developed co-branded marketing materials and jointly conduct outreach to employees through employer benefit fairs and on-site employee financial education lunch-and-learn sessions.
The results of the partnership are impressive. CCCS participated in 14 lunch-and-learn programs and employer fairs, reaching 1,075 employees across ten employers.
Employees who came in for one-on-one personalized sessions were surveyed prior to their appointment. Six months after starting, participants reported a 75% increase in being current on their bills, broad decreases in monthly debt, and a 58% increase in monthly savings. Additionally, CCCS generated unrestricted revenue because of the partnership.
CCCS is now exploring ways to build on its success. The hospitality and restaurant industries are growing in Savannah, and the city has one of the largest ports in the country. Employers, meanwhile, are struggling with high turnover rates. CCCS is currently creating opportunities to serve these industries and improve workforce stability.
John Wills advises those seeking to expand their workplace programs to:
- Include pictures of counselors in marketing materials and incorporate data and statistics from the FINRA Foundation and United Way Worldwide about and why employers offer financial wellness in the workplace.
- Offer virtual options to meet with employees and meet in person when possible.
- Determine what financial education subjects the employees you serve care about most and lead your education session with that. For us, we find that credit is a hugely popular topic, and it’s what we lead with.
- Be mindful of employee schedules. If needed, keep interactions with employees in the workplace brief.
- Think creatively when trying to reach employer audiences. For example, if your community has a local Society of Human Resources Management (SHRM) chapter, explore opportunities to participate in a meeting or serve as a presenter to discuss the hidden cost of turnover and how financial issues can create stress for employees.