From the Founder, Chairman, and CEO of Operation HOPE, John Hope Bryant.

From John Hope Bryant’s Unlocking Success newsletter on LinkedIn, April 29, 2023.

As Financial Literacy Month draws to a close, it’s a good time to reflect on the importance of financial education, especially in the workplace. Without financial literacy, employees may struggle to manage their money, leading to unnecessary stress and anxiety that can hurt their job performance. On the other hand, financially literate employees are more productive, less stressed, and better prepared to take advantage of job opportunities. So, how can we make financial education a priority in the workplace? Let’s explore.

First, the facts: according to a recent study, financial stress is the number one cause of lost productivity among employees, costing US employers an estimated $40 billion last year. That’s a lot of money—money that could be saved if employees were better equipped to manage their finances. Furthermore, the BMO Real Financial Progress Index found that more than 75% of American adults wish they had more financial literacy on core financial topics like saving, investing, retirement, and budgeting.

Now, the challenge: let’s prioritize financial education in the workplace. If you’re an employer, consider investing in financial literacy education for your employees. By doing so, you can reduce financial stress, improve productivity, and increase employee loyalty and satisfaction. And if you’re an employee, take advantage of any financial education programs offered by your employer. Doing so can improve your financial well-being, enhance your professional prospects, and give you peace of mind—a priceless commodity that none of us can afford to pass up.

So, how can you get started? Operation HOPE offers a program called HOPE Inside the Workplace that provides financial education and coaching to employees of participating companies. This program has helped more than 50,000 employees, including organizations like Delta Air Lines, improve their financial literacy, leading to greater financial stability and improved job performance. By partnering with Operation HOPE, companies can help their employees unlock the key to success through financial education.

Let’s make financial education a priority in the workplace to unlock the potential for success in all of us.