Financial Literacy and Human Resource

Was asked by somebody if I have anything to offer the company's recreation club. I told her education and empowerment. I wrote a proposal to the recreation club stating that I will run financial literacy workshops and provide refreshments for FREE! I waited for a reply and I got none.

Just today, this person told me they actually tied up with another insurance company that is offering 25% discount to their staff. Sigh.... companies' sometimes just do not get it. It does not matter how much discount is given to the staff to purchase a plan, if the staff or employee is not empowered with the knowledge to make the right decision to purchase a suitable plan for their needs, 50% discount also no use.

In all my years in the financial industry, I always feel bothered that corporate staff of these financial institutions are not taken care of. They receive a call from an adviser, they say, I working in this and this bank or this and this insurance company.. ok so is your company providing you the financial planning that is needed? Probably not. Because it still about bottom-lines, market share and profitability.

I have tried time and time again to visit organisation's HR to offer financial literacy courses and have always met with, so Tang, how is your workshop going to benefit the company? Sigh.. firstly, what does the company rely on? Employees.. what does employees crave? Appreciation... and it goes further than telling them I appreciate you. It goes further than giving 25% discount on a policy, but more importantly by giving them the benefit of what the product will do for the benefit of you and your family first, then give 25% off the solution because the company understands that you and your family is important to the organisation..

Companies have to start understanding that even if you provide group insurance to your employees it does not mean when a catastrophic event happen to your employees, those group insurances will cover everything. There are limits so isn't it fair that you give your employees knowledge to empower them with a simple financial plan so that when certain event happens your employees do not come back to the company expecting company insurances to cover everything? If you have read my previous post you will understand how important it is to manage expectations.

Many I spoke to expects that the company insurances and medishield and medisave will be enough.. hhhmmm. Trouble..

So if you are reading this, ask yourself if you know the limits and terms & condition of your company insurance? If you don't you may want to consider forwarding this post to you HR. Be empowered today!