NEW YORK, March 2, 2016 /PRNewswire/ -- Ernst & Young LLP has launched its new eFinancial Wellness platform – an affordable financial planning service that features interactive technology that provides a wide array of financial education resources for small to mid-market employers.
The eFinancial Wellness platform helps small to mid-sized companies offer competitive financial wellness benefits in a customizable and affordable package that is focused on an organization's needs, not its size. The Financial Wellness Assessment, accessible through the EY Financial Planning Center®, is the cornerstone of the service, a complete employee financial assessment. These assessments yield a baseline score for each employee's personal financial wellness and prescriptive action items that address individual areas of focus. The platform then provides financial education and learning on topics tailored to individual needs.
"Personal financial education and wellness programs can be the most life-changing benefits a company can offer its employees because of the tangible difference it can make to their financial well-being," said Lynn Pettus, National Director of the Employee Financial Services group of Ernst & Young LLP. "By better managing their financial lives, employees can lower money-related stress. Reduced stress leads to increased confidence on the job, improved productivity and a more engaged workforce."
The cumulative value of a more financially secure workforce can contribute to a company's bottom line and provide a greater return on its benefits dollars. This can be achieved through:
- Improved rates of benefits utilization
- Reduced stress levels, resulting in reduced absenteeism rates
- Increased employee focus and productivity
- Lower healthcare costs
- Lower employee turnover
The EY eFinancial Wellness platform keeps companies updated with:
- Dedicated project manager support
- Quarterly engagement reports
- Client-ready communications packages
About Ernst & Young LLP's Employee Financial Services practice
Ernst & Young LLP's Employee Financial Services practice (EFS) is a trusted provider of independent, objective employee financial education and counseling. Our multi-channel approach integrates benefits programs to help employees meet their personal financial goals across career and life stages. To learn how we can help you manage your fiduciary risk, improve your ROI on benefits programs and increase employee confidence and financial well-being, visit www.ey.com/efs.
Investment services provided by Ernst & Young LLP are performed under the supervision of Ernst & Young Investment Advisers LLP (EYIA). Additional information about EYIA is available on the SEC's website at http://www.adviserinfo.sec.gov/IAPD/Content/IapdMain/iapd_SiteMap.aspx.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
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Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.