Delivery methods for your financial wellness program

Benefits can include:

• Easy to access for employees who work in the location where the program is being offered
• Allows employees to learn directly from experts and ask questions
• Can be more interactive and engaging for participants and result in better learning outcomes
• Adult learners are more likely to engage with content if they can share personal experiences, ask questions and discuss concepts

Things to consider:

• Employees may be unwilling to raise sensitive questions in a group settings, so the facilitator should be available to answer individual questions after the presentation.
• The program may not be easy to access if employees are at multiple locations, work off-site or do shift work.

Benefits can include:

• Cost effective way to reach a large number of employees in multiple locations
• Good alternative when in-person workshops are not possible
• Provides flexible delivery for both the employer and employees
• Can be delivered as a live webinar where employees can learn directly, receive immediate replies to questions, and engage with the presenter
• Can be recorded and made available at a later time for employees who couldn’t attend the live session or who want to refer to the material
• Employees can take part as a group or individually  
• Individual setting allows employees to watch the webinar anywhere and ask confidential question

Things to consider:

• In a group setting, employees may be unwilling to raise sensitive questions, especially when they are unsure who else is participating
• Requires a certain level of technology and technical expertise
• If presented live, a moderator is needed to answer questions  
• If it is pre-recorded, there is no interaction with the presenter
• Participants may be less engaged and could be distracted by other things (such as checking email, taking phone calls)
• Be sure to review and update the content must be reviewed and updated regularly

Benefits can include:

• Can be accessed anywhere and any time as long as there is internet access
• Can be accessed through different media, such as online or through a mobile app  
• May provide a personalized experience based on how employees answer the needs assessment questions
• Good option for employees who prefer self-guided learning
• Offers privacy for learning about sensitive topics
• Reinforces learning by allowing employees to refer to topics as often as they like
• Facilitates a “just in time” approach with regard to life events and other timely content
• Can make use of existing, free web content
• Offers opportunities for game playing and other ways to make learning fun
• Changes and updates can usually be made quickly and easily
• Feedback on the program can be easily collected

Things to consider:

• No direct interaction or immediate opportunity to ask questions
• Not easily accessible for employees who don’t work at a computer, have a smart phone or tablet, or who have limited internet access
• Content must be reviewed and updated regularly

Benefits can include:

• Offers privacy and self-guided learning
• Cost-effective
• No special equipment required
• Portable and can be used anywhere at anytime

Things to consider:

• No direct interaction or opportunities to ask questions
• Can be static and sometimes less visually engaging
• Not effective for all learners
• Content must be reviewed and updated regularly

Benefits can include:

• Can be personalized to an individual’s needs
• Can go into more depth on specific issues
• Provides employees with direct access to a subject matter expert
• Offers greater privacy than a group setting
• Provides opportunity for follow-up
• May already be available through existing employee assistance programs (EAPs) and not-for-profit organizations

Things to consider:

• Can be costly
• Logistics can be difficult (such as reaching a large number of employees in multiple locations)
• Important to find a provider you can trust to offer objective, non-biased information
• Important that the provider understands they need to coach and educate rather than advise 

Not everyone learns the same way. Offer a mix of delivery channels and content to address different preferences and learning styles. For example, consider using a mix of self-serve tools (such as online course modules) and guided sessions (such as in-person workshops).  

Don’t just have participants read or listen to content. Provide them with the opportunity to engage in hands-on activities and experience-centred learning. This could be in the form of hand-outs, games, group discussions and case studies. Also allow time for the facilitator to answer individual questions during and after workshops.  

If possible, provide flexibility so employees can access financial education at work, at home or whenever they want. This can ensure you reach more employees, especially in organizations with multiple locations or where there is shift work. Also make sure employees can access the education programs whenever they need them. 

Offer written materials (and an option to receive them electronically), as well as visual media, like videos or graphics. Interactive tools, such as websites, worksheets and calculators, also provide an engaging, hands-on approach to learning. 

Employees may be hesitant to share their personal experiences, especially if it exposes their financial problems in front of their peers, supervisor or staff. However, sharing personal stories can be incredibly valuable to the learning experience. Encourage the facilitator to share personal stories, case examples or anecdotes to set the stage. The program champion(s) or executive sponsor could also set the tone by sharing a personal story. This can help create a safe space for employees to learn and talk about money.

Provide a handout or note in the course material with a contact number or another way to get help if employees are facing financial difficulties.

To encourage participation, consider offering incentives. Research shows that incentives are a good way to change behaviour and increase uptake. See Make it fun with rewards and games.

Your organization may not have the knowledge, time or resources to develop and deliver a financial wellness program. Fortunately, there are free resources available, such as:

• packaged financial well-being workshops that include facilitators who will come to your workplace
• packaged financial well-being workshop materials that can be delivered by someone internally (most include a facilitator’s guide with tips on how to present the content)
• self-paced web or printed resources you can share with employees

Refer to the Financial wellness resources for employers for more information. 

If your organization works with third-party vendors, see if they offer financial wellness programs or materials. Some that may do this include:

• employee assistance program (EAP) providers
• group insurance plan providers  
• retirement savings plans (record keepers)
• pension and actuarial consultants

More and more, vendors and providers in these fields are offering employee financial wellness programs as part of their service offering. There may be costs associated with these services. 

Many financial literacy organizations offer financial wellness programs and education for the workplace that can fit all budgets. Some of these resources are free and others may have associated costs. These can include financial institutions and credit unions, financial advisors, specialized consultants, professional associations, not-for-profit or charitable organizations, accredited organizations and government. 

Your organization may already have a learning and development group, wellness committee or human resources group that can help. They may be able to develop employee financial wellness initiatives. They may also be able to integrate them into existing education initiatives related to your wellness, benefits, pension or retirement savings plans. Also consider using internal professional and financial expertise such as chartered professional accountants. They may be able to help deliver financial wellness workshops and other initiatives within your organization.

If you outsource the delivery of your financial wellness program, in-house program managers and champions are still critical to the program’s success. Don’t forget to factor them into your program’s strategy.