Goodwill Industries of East Texas, Inc. empowers employees with a savings solution by partnering with Sunny Day Fund.
"They don't even notice that it's missing from their checks."
Goodwill Industries of East Texas, Inc., based in Tyler, Texas, has been dedicated to workforce development since 1965, providing training, counseling, and job opportunities to those overcoming employment obstacles, funded by partnerships and second-hand store proceeds.
Goodwill Industries noted that financial uncertainty was a big problem for their employees and began seeking solutions to address this challenge.
The Problem
Many employees at Goodwill Industries of East Texas struggled with financial savings, which impacted their ability to plan for future needs and emergencies. The lack of an easy and accessible saving mechanism left many without a financial safety net, affecting their overall job satisfaction and personal well-being.
Solution
In response, Goodwill Industries partnered with Sunny Day Fund to create an employee savings program. This initiative allowed workers to effortlessly set aside a small portion of their paycheck into a savings account for emergencies or personal goals, with the added incentive of earning rewards. These deductions were small enough to go largely unnoticed, allowing employees to save easily.
Results
The integration of emergency savings accounts into the financial wellness plan at Goodwill Industries of East Texas yielded encouraging results:
- Employees started saving effortlessly, with many not even noticing the deductions from their paychecks.
- Increased planning for vacations and family excursions, indicating an improvement in financial confidence and quality of life.
- Enhanced employee satisfaction and retention, attributed to the financial security provided by the fund.
"The result is that they're planning vacations, special trips, and excursions for their family members."
Kimberly Lewis, President and CEO of Goodwill Industries of East Texas, Inc., celebrated the initiative’s success: "Sunny Day Fund has allowed our employees to really begin to save in such a way that's easy for them. They don't even notice that it's missing from their check, and the result is that they're planning vacations, they're planning special trips and excursions for their family members."
The positive outcomes highlight the impact of paying attention to the financial health of employees.
With emergency savings programs, employees get to experience the benefits firsthand, leading to a more secure and satisfied workforce. Echoing this sentiment, Kimberly recommends other organizations follow suit. She concludes, "If you're thinking about it, go ahead and do it. It's a great benefit to add to your package to help your employees learn to save with the Sunny Day Fund."
Wrapping Up
The collaboration between Goodwill Industries of East Texas and the Sunny Day Fund provides a model for how businesses can actively support their employees' financial health. By participating in savings initiatives, employees gain a sense of financial security, which boosts their engagement and productivity.
Goodwill's action inspires companies to improve their team's welfare, leading to a workplace where loyalty, employee satisfaction, and financial well-being are deeply rooted.