Productivity losses due to poor financial management behaviors of employees may be one of the most overlooked issues in the workplace today.  Employers pay a high price for the stress-induced loss of productivity of financially distressed workers.   This should be of vital concern to employers worried about bottom-line calculations.

If employees are worried about paying their bills, they may find it difficult to concentrate on their work.  The result for you is lowered productivity, tardiness, absence, lost sales, errors on the job, and wage garnisment.

Financial management is not taught in high school or college.  The workplace is the most appropriate place to begin teaching financial responsibility.  Besides increasing their workers productivity, employers have another incentive for encouraging employees to help themselves.  The more people take responsibility for their own career and financial security, the less they look to their employer to do the same. 

Employers have discovered that providing a forum for their employees to squeeze 5-10 percent more out of their income is comparable to giving their employees a 5-10 percent raise.  Consumer Credit Counseling Service^TM (CCCS) can help you establish a forum that can prevent or alleviate your employees’ financial concerns

How do we assist employers?

When employees have mismanaged their money or have not saved for unexpected expenses, it creates financial concerns. In addition, employers sometimes need to lay off people, cut back hours, reduce wages, or not pay expected bonuses.  Employees need to be taught the necessary skills to decrease expenses and reduce debt during this time.

A comprehensive personal finance education program can help get people past their difficult days of credit problems.  With CCCS’ guidance your employees can become responsible financial managers.  They can reduce their level of stress, be more productive at work and help your business operate more effectively.

We offer workshops and presentations at your work site on various topics such as money management, credit issues, financial goal setting, and surviving a layoff.  A program can be tailored to fit your employees’ needs, from a 30-minute “brown bag” lunch presentation to a four-part series.  In addition, we can accept referrals to our free counseling services from human resources when they talk with employees in financial distress.  Finally, we can inform employees about our services through agency brochures or paycheck inserts.

How does CCCS work?

When people call CCCS to make an appointment with a counselor, they are usually ready to accept help in managing their finances.  Prior to the initial session, clients complete a confidential questionnaire about their income and expenses.  In addition, all forms, statements, pay stubs, and other financial documents are requested to help counselors get a complete picture of the client’s finances.

With this information, our counselors analyze the client’s financial situation.  Discretionary spending is closely examined.  We can then try to develop a workable Debt Management Plan (link to DM) so your employee can get back on solid financial ground.

Some individuals have severe financial problems and may not have enough income to repay debts at a monthly rate that is acceptable to their creditors.  In these cases we cannot set up a Debt Management Plan, but other options are discussed such as increasing income, cutting more expenses, or legal routes.

Who supports CCCS?

CCCS is a non-profit organization affiliated with the National Foundation for Credit Counseling.  Representatives from businesses and community service organizations volunteer their time to serve on the local board of directors.

As a non-profit 501 ( c)(3) organization, we are supported by tax deductible contributions from creditors, corporations, foundations, and other community minded firms, organizations, and individuals. Therefore, we are able to make our services available to businesses on a low or no cost basis.

How do I get CCCS to help my employees?

We would be pleased to visit with you and educate your employees about more effective ways to manage their finances now and in the future.  Depending on their needs, we can tailor a program that will be most beneficial for them and for you.

For more information please call Consumer Credit Counseling Service^TM of Kern & Tulare Counties today.

CCCS Education Department

661-324-9628 Ext. 6103