Companies give crash course to make staff financially healthy and wise

economictimes.indiatimes.com:

financial awareness sessions and by providing access to various financial tools and, in some cases, trustworthy financial advisors.

P&G India, NetApp, MG Motor and Dell Technologies are among organisations enhancing their employee wellbeing offerings to include financial wellness and awareness.

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With a predominantly young workforce that is looking to understand not just personal finances better but also invest effectively for maximum returns, the focus is on driving knowledge around mutual funds, shares, derivatives, as well as government-provided investment plans, industry insiders said.

Companies are also educating employees — even freshers — about retirement plans and family financial decision-making. Other initiatives include helping employees with student loan repayment programmes, financing or providing loans for education, and providing access to various financial tools.

«While we do organise sessions which educate employees about government-run programmes like NPS and PPF, we've also partnered with banks and financial institutions to educate employees on how mutual funds work, what they need to keep in mind while investing, and how they can look at long-term investments like shares,» said Yeshwinder Patial, senior director of HR at MG Motor India.

Almost 1,800 employees of the carmaker, including blue-collar employees working on the shop floor, have been collectively part of the various financial awareness sessions organised by the firm over the last year or so.

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