ERGs Need Targeted Financial Wellness Programs for Employees
Employee Resource Groups (ERGs) have long been the heart of corporate inclusion and community. But in a world where systemic barriers still impact how we earn and save, ERGs have a unique opportunity to lead the charge in a new way: by hosting financial wellness programs for employees that actually resonate with their members’ lived experiences.
The Reality of Workplace Financial Stress
Financial stress is an unwanted coworker for many of us. According to a 2024 survey by Bank of America, 66% of employees report feeling stressed about their financial situation, and 76% believe that the cost of living is outpacing their income growth.
Financial stress isn't just about "bad habits." For many in our communities, it’s about navigating inflation, insufficient retirement income for older generations and the increasing demands of capitalism for us to spend more and more while managing the emotional weight of systemic inequity.
Studies show that financial worry is a top cause of decreased productivity and burnout. When employee resource groups step in, they bridge the gap between generic corporate benefits and the real, nuanced needs of BIPOC and LGBTQ+ professionals.
Why ERGs Are the Perfect Space for Money Conversations
Most "off-the-shelf" financial wellness programs for employees feel clinical or out of touch. ERGs, however, are trusted spaces where employees feel a sense of belonging. This trust is the "secret sauce" for engagement because:
Psychological Safety: Employees are more likely to discuss "taboo" topics like debt or salary negotiation in a space where they feel understood.
Relatability: A 2024 webinar by the Employee Benefit Research Institute highlighted that ERGs can drive higher engagement in financial wellness programs by creating an environment of trust and relatability. When a speaker looks like the audience and understands their specific hurdles, the advice becomes actionable rather than generically unrelatable.
Collective Power: ERGs can advocate for better resources that specifically address the wealth gaps affecting their personal communities.
Benefits of Personally Relevant Financial Wellness Programs for Employees
Implementing financial wellness programs for employees through your ERGs yields benefits that go far beyond a spreadsheet:
Reduced Financial Anxiety: Targeted education helps members move from "panic mode" to "planning mode."
Higher Retention: Employees stay where they feel seen. Offering support that honors their identity builds deep loyalty.
Audience-Specific Insight: Instead of broad-strokes advice, these programs can tackle issues like the "Black Tax," LGBTQ+ family planning costs, or supporting elders.
Equip Advisory: A Partner for Your ERG
At Equip Advisory, we don't do "boring" webinars. We provide tailored financial wellness workshops designed to meet BIPOC and LGBTQ+ employees exactly where they are.
As a speaker who understands the intersection of identity and money, I help employee resource groups transform financial stress into financial power. Our workshops are practical, candid, and—most importantly—human-centric.
Ready to bring high-impact financial wellness to your ERG?
👉🏾 Grab time to chat with us about our standard and custom workshop offerings.
