LifeCents, a financial wellness company, announced their partnership with The Standard, a leading provider of insurance and financial services, to engage their employees and improve their overall financial health and well-being.
The Standard’s employees will have access to the LifeCents financial wellness app in advance of the company’s open enrollment period for employee benefits. In addition to the app’s full suite of financial wellness tools, The Standard is promoting an enrollment challenge on the app to help employees make better informed decisions during benefits open enrollment.
HR Technology News: Lyons Companies Provides Notice of Data Event
The Standard’s focus on strengthening employees’ financial well-being is in alignment with the Oregon Healthiest State (OHS) initiative, an Oregon Business Council program with a mission to foster a statewide culture of physical and financial health. The initiative was kicked off in 2013 with support of the Oregon Governor.
“As a provider of employee benefits and retirement plans for millions of customers nationwide, sound financial decision-making and retirement readiness are core to what we do,” said John Hooper, vice president, Human Resources at The Standard. “In partnering with LifeCents, we’re turning our focus to our employees, helping them by highlighting how their approach to decisions regarding their benefits and other financial matters can strengthen their overall well-being. For example, our 401(k)-employer match is very generous, but employees don’t always take full advantage of the match. LifeCents can help our employees not only learn about the importance of a 401(k), but also the importance of maximizing the value of the retirement program.”
By learning more about each user’s financial habits, their confidence in making financial decisions, and their financial priorities, LifeCents highlights the actions employees can take today and over the long-term to meet their personal financial goals. This revolutionary, highly personalized, and proven approach to financial wellness leads to more engaged employees and better financial outcomes for those participants. In turn, as an employer, The Standard gains insights with which to better tailor employee benefits and the enrollment process to best suit their workforce’s needs and goals.
“We always value working with forward-thinking organizations like The Standard that value their employees and take decisive steps to foster a culture of good financial health,” said Blake Allison, Founder and CEO of LifeCents. “We enjoy collaborating every day with the world-class team at The Standard who shares our passion to help empower people to achieve financial security.”
HR Technology News: Fabiana Gadow Joins Korn Ferry as Senior Client Partner