Drive Engagement in Financial Planning Meetings with Free Food
If you’re an employer looking to increase participation in your financial planning meetings, consider offering free meals. Studies show that providing food can significantly boost engagement and attendance. By creating a more relaxed, social environment, employees feel appreciated and are more willing to engage. This approach can foster open discussions and encourage employees to take an active role in managing their finances, which may reduce financial stress and improve job satisfaction.
In a recent interview, Fred Barstein, CEO and founder of TPSU and 401kTV, spoke with Paul, a CFO who oversees benefits, including the 401(k) plan, for his organization of 40 employees. Paul described how his company hosts biannual educational sessions on financial planning, using meals as an incentive for attendance. These sessions are followed by one-on-one meetings with a financial advisor, which Paul finds very effective in helping employees align their financial goals with retirement planning. He emphasized that employees appreciate the personalized approach, as it enables them to discuss their unique objectives.
Read the Full Transcript Here:
Fred Barstein:
Greetings. My name is Fred Barstein. I’m the CEO and founder of TPSU and 401kTV. Just completed a program at DeSales University in Lehigh Valley, Pennsylvania, and I am here with Paul. Welcome, Paul.
Paul:
Thank you.
Fred Barstein:
Okay if we ask you a few questions?
Paul:
Sure.
Fred Barstein:
Great. Before we do, tell us a little bit about you and the size of your organization and your role.
Paul:
Paul, and we have 40 employees and I’m the CFO and I also handle all of our benefits, including our 401k.
Fred Barstein:
Great. So, in the program, you mentioned about the kind of education and that you’re advisor and benefit broker.
Paul:
Yes.
Fred Barstein:
Can you tell us what it is that you do?
Paul:
Sure. We have education plannings with our employees twice a year, and we have it at the location, whether it’s at the office or another location that we have. And the way that we get the employees to attend, not just for their education and their financial, but, little incentive, to bring lunch, whether it’s hoagies or pizza, our Financial Advisor does that to get them in there.
And then, we work with them on the financial planning for the 401k, and we get them, after a little bit of intro as a group, we bring them in one-on-one-
Fred Barstein:
Nice.
Paul:
… and that is really, really effective, that we bring them one-on-one so that they can achieve what they want as an individual for their financial goals.
Fred Barstein:
Right.
Paul:
And then, we also, twice a year, we have education meetings for employee benefits and financial as well.
Fred Barstein:
So, how is the effect? How is that working with your employees?
Paul:
It works very well. They really like the one-on-one so that they can let the financial advisor and myself know what they’re looking to achieve in their life and for their retirement.
Fred Barstein:
Right.
Paul:
In that way, we can then put things together for them to help them get to where they want to be.
Fred Barstein:
Right. So, final question. TPSU, a couple of things you picked up, and would you recommend it?
Paul:
TPSU is great. The few things that I would highly recommend, the speakers that they had were fantastic and very relevant to the topics and very communicative and very good speakers. And the other is the interactive, where you can just-
Paul:
… and the speakers will say this, because they do not want to just stand there and talk the whole time. That’s where you can get very interactive and really get your questions out there and where they can answer them.
Fred Barstein:
Great. Well, thank you for your time today.
Paul:
Pleasure.
Fred Barstein:
And thank you for watching 401kTV. Please stay tuned.
