TrueNorth Companies, L.C., a closely and privately held risk management and insurance brokerage firm headquartered in Cedar Rapids, Iowa, announced today the launch of its Center for Financial Well-Being, which is powered by FinFit, the most comprehensive financial wellness platform available to U.S. employers. With almost half the US working population experiencing financial stress, TrueNorth is offering this solution to ensure its clients and their employees have the tools to make positive financial changes in their lives.
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This resource can help manage the risk that comes from financially distressed workforces. The platform offers financial education and resources to help create a safer and more productive work environment.
“The financial hardships facing working Americans is staggering. They’ve battled and persevered through one crisis after another, but the pressure won’t let up. TrueNorth is proactively taking that step, extending that hand, to provide the tools necessary for employees to thrive even during the toughest of times,” Tim O’Neil, Senior Workforce Solutions Specialist at TrueNorth Companies, said.
According to a recent survey from FinFit, financial stress has a significant impact on performance at work. Almost nine out of 10 workers suffer from anxiety, 60 percent suffer from depression, and 17 percent have sleepless nights.
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The Center for Financial Well-Being includes access to unlimited financial coaching for TrueNorth clients’ employees, and is organized around four principles that help contribute to improved financial well-being:
- Awareness. The platform takes employees through a health checking and personalized assessments that recognize that every person has unique spending, savings, planning and buying habits. The platform provides action plans and tools specific to each worker’s needs.
- Motivation. It’s hard work for people to change their relationship with money. The platform engages workers through assessments, education, and budgeting.
- Action. The platform gives each worker a real-time look at their finances: where they are doing well, and where they may be struggling. It also provides calculators for any financing challenges they may face.
- Success Nudges. Real-time notifications and rewards provide instantaneous feedback for workers when they are reaching their goals.
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