Description of Program
Children’s Memorial Hospital has worked tirelessly to provide financial education to its employees—the dedicated doctors, nurses, administrators and support staff who work together to provide world class health care to children who are suffering from life threatening diseases. The hospital operates in a 24/7 environment where employees are often required to drop everything to tend to their patients. The hospital has created an innovative program designed to accommodate employee’s busy schedules and hectic lives.
Children’s Memorial Hospital’s financial education program includes:
- A toll-free financial helpline service open 11 hours a day where participants can call at their convenience, with e-mail support available for those who want a quick answer.
- 1 hour webcasts available at flexible hours so employees can learn about key financial topics in the privacy of their home.
- On site workshops and financial planning sessions, also scheduled with employees’ shifts in mind to allow for maximum availability.
- A financial makeover service provides an innovative approach to making financial changes.
- An online platform which provides employees with a personalized financial wellness assessment and customized financial learning plan.
Results
100% of employees who participated in the company’s behavioral change program reported that they made at least one major change to their finances within 30 days of receiving financial education. On average, participants made 3 changes. The most common changes were saving more for financial goals, reducing monthly expenses, and reviewing/changing the asset allocation within their retirement plans.
98% of participants surveyed report that they consider financial education to be an important benefit.
99% say they would recommend the service to someone else.
97% say they are better prepared to make a financial decision after participating in the education.
