BrightPlan, a total financial wellness company, is rolling out a number of new solutions meant to address four top challenges business and human recourse (HR) leaders face in 2022.
The four challenges are attracting and retaining talent; driving employee experience and engagement; supporting employees’ holistic wellbeing; and fostering a culture of diversity, equity and inclusion (DE&I). BrightPlan’s integrated strategy encompasses new and enhanced product capabilities including the Total Rewards Statement, financial wellness check-ups and data and insights that support employer DE&I efforts.
Attracting and retaining talent: To win in this competitive talent market, BrightPlan says, employers need to create a reputation for having a strong culture and being a great place to work. To help employers achieve these goals, BrightPlan’s new Total Rewards Statement offers an easy-to-use tool customized by company and job candidate that explains the value of total rewards. Additionally, BrightPlan is developing more financial education courses integrated with employer benefits that are relevant to different life stages, covering investing basics, the financial impact of marriage, the benefits of home ownership and more.
Employee experience and engagement: BrightPlan says employers need to provide their people with the services and support they need to be well, engaged and productive. With BrightPlan’s recently announced global support for employees of U.S.-based companies working in Canada, the U.K., Australia and New Zealand, as well as expanded services for tax planning and preparation, estate planning, student loan optimization and investing enhancements, BrightPlan’s Total Financial Wellness solution helps create a more cohesive experience that addresses all aspects of employees’ financial lives.
Holistic well-being: According to BrightPlan, holistic well-being recognizes the need to care for the “whole person,” including their physical, mental, financial and social well-being. With BrightPlan’s new financial wellness check-up—which is built on a series of key questions that gauge employees’ financial wellness—employers receive aggregated insights on the financial well-being of their employees. In addition, BrightPlan provides quarterly reports and dashboards that bring clarity into the adoption and success of employer’s holistic well-being initiatives.
Diversity, equity and inclusion: BrightPlan says fostering a culture of inclusiveness and belonging, where every individual feels welcome, can be challenging. There is no one-size-fits-all solution and many employer programs do not adequately address the unique needs of underrepresented groups.
Due to the wealth gap for underrepresented groups, inclusion in the workplace should also focus on fostering a sense of financial security through equal pay, equal opportunity and access to resources such as financial wellness benefits. BrightPlan partners with HR teams to address the unique needs of different employee populations through employee resource groups (ERGs). In addition to providing quarterly engagement reports and dashboards, BrightPlan’s strategy includes working with each employer to bring DE&I-specific insights into the equation, enabling HR leaders to drive customization and improved decisionmaking. Further, BrightPlan is adding Spanish-speaking financial advisers to make financial wellness more accessible to diverse employee populations.
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