In this tight economy, corporations have come to discover what many nonprofits have long understood—a paycheck is not the only factor that keeps employees invested in their jobs. At Allstate, we’ve long taken a holistic approach to employee compensation, and have found some new strategies to compliment the typical pay and benefits to help us empower employees.
For years we’ve made the most of programs like career planning, professional development and volunteer recognition as some of our strongest employee retention tools. This April, we expanded these efforts to include a new program to build the personal financial well-being of our employees.
The financial fitness program builds on our success with the Allstate well-being programs, which champions a holistic approach to employee well-being that includes helping employees in their journey to become physically energized, financially strong, emotionally connected and mentally focused.
Last month—designated by Allstate as Financial Fitness month, to coincide with Financial Literacy Month—employees were given the chance to boost their financial fitness by attending financial literacy workshops on topics from homeownership to retirement readiness. Since Allstate’s employee wellness program launched in April 2011, employees have been encouraged to take advantage of a robust lineup of initiatives including a day and half workshop on their well-being, discounted healthy food options in our cafeterias and a program that gave employees an accelerometer to clip to their shoes and track their steps.
Our goal is to not only help prepare Allstate employees for the future, but also to help them feel valued and supported at work. Allstate invests a lot in its employees and this education helps them maximize the value of that investment.