Attracting and retaining top talent is crucial in a competitive job market. Employees are increasingly harder to retain, and gone are the days when benefits simply meant providing health insurance coverage. Employees want more, and their finances are a great place to start. Strategically implementing an employer financial wellness program, including educational resources, exclusive banking benefits and products, one-on-one guidance, and online resources, is a proactive move that reaps long-term benefits for employers and their employees.

Wintrust’s relationship-driven financial wellness program, Wintrust@Work, does just that. “We’re reaching out to the community and connecting with different employer groups to support financial wellness through a holistic approach,” explains Wintrust@Work Program Director, Denise Smith. “Our bank-at-work program has several levels, helping employees navigate their financial journey at every stage in their life, while also helping the employer retain employees and add to their benefit package,” says Smith.

Alleviating financial stress and increasing productivity

According to a PwC Employee Financial Wellness Survey, 60% of employees say personal finances are the top cause of stress — more than job, health, and relationship stress. Employees who report being financially stressed are nearly five times as likely to admit their finances have been a distraction at work and are likely to be attracted to another company that cares more about their financial well-being.

Employers can empower employees to manage their finances better through access to specialized banking products, such as second checking accounts and savings plans. Accounts can be customized to assist employees with budgeting, saving for emergencies, first-time homebuying, and achieving long-term financial goals like retirement and estate planning. 

This tailored approach instills confidence and significantly reduces financial stress — offering employees a tangible sense of security. By lowering employee stress and improving overall health, financial wellness programs can decrease health care costs and reduce absenteeism, turnover, and the associated costs of recruiting and training new staff. 

A boost to employee benefits without the boost to employer budgets

Wintrust@Work offers employers the opportunity to go above and beyond industry-standard benefits with a fully customizable program that provides a suite of financial solutions at no cost to the employer. This suite of solutions includes checking and savings account bonuses, access to loan discounts and CD specials, as well as a financial education program based on the FDIC’s Money Smart curriculum. 

Employers can pick and choose the instructor-led modules that they feel will help their employees the most and Wintrust takes care of the rest — scheduling both onsite and virtual courses conducted by financial experts. Wintrust@Work can integrate into an employer’s already existing plan (companies don’t need to bank with Wintrust to offer this program to employees) or be approached as a bundled solution — allowing for complete customization and a true relationship model.

Employees are not only offered financial education classes but access to financial advisors who can work through their unique financial situations. Wintrust offers employees one-on-one time to sit down with a mortgage officer, a financial advisor, or a wealth strategist onsite at their place of work. “The program is more than a special account with bells and whistles — we lead with the educational piece,” says Smith. “We really want to educate the employees.” 

Employers who bring their employee health benefits to Wintrust support their employees’ financial wellness while building a more engaged, productive, and financially secure workforce. Investing in employee financial wellness is not just a caring choice — it’s a smart business decision that benefits everyone involved. 

Connecting with employees to build life-long financial health

Wintrust@Work provides time and space for employees to ask their pressing financial questions and really think through their personal finances. As the program progresses, employers have been extremely pleased with the available courses and the outcomes they’re seeing — particularly the employee participation.

Smith has worked with employees opening their first bank accounts to those working to build wealth. “The Wintrust@Work program offers something different than the big banks, and something that helps people in every stage of their lives. Whether it’s their first job, first home, planning for retirement — knowledge is power,” says Smith. 

With a dedicated primary point of contact, employers who opt into Wintrust’s financial wellness services are in good hands. “I live, eat, and breathe this!” exclaims Smith, who has been known to take calls after hours and meet customers over the weekends. “These customer relationships mean everything to me, and I’m all hands on deck whenever I’m needed.”

Smith explains the Wintrust difference. It starts with the educational component. Where many programs aren’t able to offer a top-notch educational program, Wintrust has a huge selection of courses and content to choose from. And it ends with a true relationship-based program. “We’re not just a one-hit-wonder bank or program,” says Smith. “This is a relationship — a partnership — and we want to be there to help every step of the way.”

Using and offering benefits should feel effortless. Show your employees their financial well-being is a top priority, build custom plans, and streamline internal processes. 

Contact Denise