RICHMOND, VIRGINIA – When routine interaction with employees is changed, productivity and employee satisfaction can suffer. Add uncertainty and fear to daily life and this will compound the situation. The global COVID-19 pandemic will have to play out without any input from business owners, however, steps can be taken to mitigate the negative impacts the situation applies to our businesses and our lives.
Business owners can partner with MassMutual Greater Richmond to provide additional guidance and care to their employees during the coronavirus pandemic. MassMutual has modified several of its already successful programs to have a positive impact on businesses and their employees.
“Our executive team believed it was important to be there for businesses and the community during this time,” said Vice-President of Agency and Strategic Initiatives Kevin Choate. “Our strengths are in financial planning and financial literacy. We are a leader in these areas with businesses, families, and individuals and are proud to deliver these services throughout the entire state of Virginia.”
Using a robust online platform, MassMutual Greater Richmond is currently working with business owners to provide live financial literacy classes for their employees, one-on-one financial consultations, and cost savings focused business audits all at no expense to the employer or employee.
Financial literacy has been an increased focus of many employers and human resource departments since 2018. MassMutual Greater Richmond designed a robust financial education program in 2017 and currently offers over thirty-five seminars that can be custom designed for an employer’s population based on needs and demographics.
“A strong financial literacy program impacts more than just the employee, it impacts the entire business culture. Studies show that employees that are not worried about their finances or their future are more productive and happier at work. Not only does this greatly impact culture, but it positively impacts employee attraction and retention. Some of our business partners who were on a quarterly seminar schedule are now requesting weekly classes,” Kevin Choate continued. “The belief is that employees will be better prepared to make sound financial decisions and have realistic expectations through interaction in our programs. There is no expense to the employer or employees for our financial literacy.”
In addition to financial literacy, MassMutual Greater Richmond is making its team available for one-on-one consultation from experienced licensed professionals. These online consultations allow for employees or business owners to ask questions and receive guidance specific to their needs. These consultations can be in follow-up to the seminars or independent consultations where the employee or business owner bring their agenda.
“This current pandemic is a situation that no one saw coming and no one knows how long it will last. As a business owner, I asked myself what resources would I want during these times?” shared Bradley Gramm, President and CEO of MassMutual Greater Richmond. “Thankfully the answer is one that we are uniquely equipped to deliver. Our financial literacy programs are robust and were built out over two years ago. Our team of moderators is proficient and we have invested millions in our technology platform to deliver everything businesses need virtually. Our team of financial professionals is highly qualified in many specific areas. Also, I have decided to waive any MassMutual Greater Richmond fees normally charged during the COVID-19 pandemic. Cash flow is important to businesses and families now. If we can help them get to a more secure place, then we are doing our part to give back to the community. MassMutual’s motto is to ‘Live Mutually.’ This is one of many ways those words become action.”
Some businesses have had to make the difficult decision to temporarily close. Even in these situations, a business owner can arrange these one-on-one consultations for their furloughed employees to provide them guidance during these challenging times. Many times the employees have some questions to ask or need guidance in areas of savings and budgeting. We can add value to all employee’s lives regardless of their status and the employees always seem grateful for the outreach and care.
To learn more about virtual financial literacy and virtual one-on-one planning for your employees or to schedule a virtual meeting, please contact Kevin Choate at kchoate@financialguide.com or call his office at 804-346-8160. Together we can work to be stronger and better prepared for life’s unexpected journey.
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About MassMutual Greater Richmond: MassMutual Greater Richmond is headquartered in Glen Allen, Virginia and has multiple satellite offices throughout the state. MassMutual Greater Richmond provides planning and financial solutions in areas of retirement planning, wealth accumulation, education planning, risk management and insurance, estate planning and budgeting. MassMutual Greater Richmond’s financial literacy seminars are provided by licensed financial professionals experienced in the subjects they instruct and have received additional training in classroom moderation and instruction. https://greaterrichmond.massmutual.com/businesses
About MassMutual workplace solutions: In 1851, MassMutual started with a single room and a single driving purpose – to help people protect their family and their future. Our unrelenting commitment to our core values of mutuality and partnership underscores the growing interdependencies between MassMutual, financial professionals, employers, and employees alike. We celebrate this reliance upon one another as a source of strength for innovation, collaboration, financial wellbeing, and stability. https://workplace.massmutual.com/about-us
Contact: Kevin Choate
kchoate@financialguide.com
