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Author: Fedcap Engagement

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Fedcap Rehabilitation Workers Thanked for Keeping GSA Facilities Open During Pandemic

Fedcap Rehabilitation Workers Thanked for Keeping GSA Facilities Open During Pandemic

Fedcap Rehabilitation workers at the GSA New Jersey Consolidated contract have shown unwavering commitment throughout the COVID-19 Pandemic.

On Tuesday, March 29, Fedcap Rehabilitation President Steve Coons visited with the team for a thank-you lunch provided by GSA. Also present were GSA’s Gary Palmer, Mark Drumel, and John Beier, who all praised the Fedcap client worker staffs for their service, their selfless work ethic, and attention to detail as they kept the GSA facilities safe and open for business every day during the Pandemic, for tenants as well as the public who utilize these facilities.

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The Importance of Financial Literacy

The Importance of Financial Literacy

April 4, 2022

Recently I wrote about the tremendous value that results from including financial literacy as part of your company’s employee well-being package. Some of these benefits include enhancing the company’s overall benefits package, reducing employee personal stress, creating a more engaged workforce and potentially reducing the number of employees who leave for higher paying jobs.

Bottom line, I strongly believe helping staff build their financial literacy muscles is a critical investment that should be made by all employers.

This week I want to narrow my focus, stressing the need for investment in financial literacy specifically for women of color.

To put the discussion in context, according to a study by the Assets Funder Network, the median net worth for single Black women is just $200 and $100 for Latina women, compared to the median net worth for single white women of $15,640 and $28,900 for single white men. And these disparities continue to exist, although, according to the National Center for Educational Statistics, Black, Latina, and Native American women are continuing to matriculate onto college campuses in increasingly larger numbers.

A recent article by Bola Sokumbi in (CleverGirlFinance.com) suggests several (this is not an exhaustive list) important reasons why it is important to invest in financial literacy for women of color. 

  • The lack of financial literacy resources/services that cater to women of color. As Sokumbi notes, “while financial literacy alone is not the solution to the racial wealth gap, it gives us the right foundation. Having financial education tailored to our reality, equips us with the knowledge needed to take the necessary actions to build wealth.”
  • The profound effect of the gender wage gap on women of color. I have highlighted this wage gap in my previous blogs over the past several years. This wage gap compounds the investment gap, resulting in much less money to support retirement and other long term financial goals.
  • Women of color carry the majority of student loan debt in the US. According to AAUW (American Association of University Women), as of 2021, $929 billion of the $1.54 trillion outstanding student loan debt in the US is held by women. And when broken down by demographic, black women have the highest student loan debt of any racial or ethnic group. So, while women of color have made strides in obtaining college degrees, student loans are impacting long term financial well-being

Combating these realities takes a planful, structured effort and companies across the U.S. have an obligation to step up and become part of the solution.

The Fedcap Group is committed to doing all that we can. Developing a strong financial literacy program as part of our overall employee well-being benefit package, has the potential of assisting all of our employees—and especially women of color—in taking intentional, informed steps to increase their net worth and long term economic well-being.

As always, I welcome your thoughts.

4 abril 2022

La Importancia de la Educación Financiera

La semana pasada escribí sobre el tremendo valor que resulta de incluir la educación financiera como parte del paquete de bienestar de los empleados de tu empresa. Algunos de estos beneficios incluyen mejorar el paquete de beneficios totales de la empresa, reducir el estrés personal de los empleados, crear una fuerza laboral más comprometida y potencialmente reducir el número de empleados que se van a trabajos mejor pagados. En pocas palabras, creo firmemente que ayudar al personal a desarrollar sus conocimientos de la educación financiera es una inversión crítica que deben hacer todos los empleadores.

Esta semana quiero limitar mi enfoque, enfatizando la necesidad de invertir en la educación financiera específicamente para mujeres de color.

Para poner la conversación en contexto, según un estudio realizado por Assets Funder Network, el patrimonio promedio neto para las mujeres solteras de Color es de solo $ 200 y $ 100 para las mujeres latinas, en comparación con el patrimonio promedio neto para las mujeres blancas solteras de $ 15,640, así como de $ 28,900 para los hombres. Y estas disparidades continúan existiendo, aunque, según el National Center for Education Statistics, las mujeres negras, latinas y nativas americanas continúan matriculándose en las universidades en números cada vez mayores.

Un artículo reciente de Bola Sokumbi en CleverGirlFinance.com sugiere varios (esta no es una lista muy amplia) importantes motivos sobre por qué es importante invertir en la educación financiera para las mujeres de color.

  • La falta de recursos o servicios de educación financiera que satisfagan a las mujeres de color.or. Como señala Sokumbi, "la educación financiera por sí sola no es la solución a la diferencia de riqueza racial, sino que nos da los fundamentos correctos. Tener una educación financiera adaptada a nuestra realidad, nos equipa con el conocimiento necesario para tomar las acciones necesarias para construir riqueza."
  • El profundo efecto de la diferencia salarial de género para las mujeres de color. He destacado esta diferencia salarial en mis blogs anteriores en los últimos años. Esta diferencia salarial agrava la brecha de inversión, lo que resulta en mucho menos dinero para respaldar la jubilación y otros objetivos financieros a largo plazo.
  • Las mujeres de color conllevan la mayor parte de la deuda de préstamos estudiantiles en los Estados Unidos. Según AAUW (American Association of University Women), a partir de 2021, $ 929 mil millones de la deuda pendiente de préstamos estudiantiles de $ 1.54 billones en los Estados Unidos está en manos de mujeres. Y cuando se desglosa por demografía, las mujeres de color tienen la deuda de préstamos estudiantiles más alta de cualquier grupo racial o étnico. Por lo tanto, mientras que las mujeres de color han logrado avances en la obtención de títulos universitarios, los préstamos estudiantiles están afectando el bienestar financiero a largo plazo.

Combatir estas realidades requiere un esfuerzo planificado y estructurado, y las empresas de todo Estados Unidos tienen la obligación de intensificar y convertirse en parte de la solución.

The Fedcap Group está comprometido en hacer todo lo que podamos. Desarrollar un sólido programa de educación financiera como parte de nuestro paquete total de beneficios de bienestar de los empleados, tiene la posibilidad de ayudar a todos nuestros empleados; pero especialmente a las mujeres de color; a tomar medidas deliberadas e informadas para aumentar su patrimonio neto y bienestar económico a largo plazo.

Como siempre, espero todos sus comentarios.

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April is Autism Acceptance Month

April is Autism Acceptance Month

Please join us during Autism Acceptance Month in celebrating people of all abilities. Thank you for striving toward making acceptance the new normal.

April is Autism Acceptance Month. This special recognition, created in 1972 by the autism community, was changed from autism “awareness” to “acceptance” because the community wanted to move the conversation away from “awareness,” a word it considers stigmatizing, as if autism were a threat about which we must be vigilant.

Autism is certainly not that. Autism, or autism spectrum disorder (ASD), refers to a developmental disability characterized by challenges with social skills, repetitive behaviors, speech and nonverbal communication. There are many subtypes of autism, most influenced by a combination of genetic and environmental factors. Because autism is a spectrum disorder, each person with autism has a distinct set of strengths and challenges. Over 7 million people in the United States are on the autism spectrum–people from all racial, ethnic and socio-economic backgrounds. According to the CDC, one in 44 children is diagnosed with autism.

The increased prevalence of autism, and a growing understanding of what it is and what it is not, underscores the urgent need for education, equitable access to diagnostic evaluations, and early interventions that have a significant impact on lifelong outcomes. Young people and adults with autism urgently need greater access to employment. Up to 85 percent of college educated adults with autism are unemployed, and over 70 percent of adults with autism are underemployed or unemployed. Especially in a time of chronic labor shortages, companies could benefit by hiring more people who have autism and are neurodiverse—these individuals bring a wide range of skills to the workplace that can be harnessed with modest accommodations.

The companies of The Fedcap Group have long embraced best practices around autism evaluation and early intervention, providing evidence-based treatment for children and their families living with ASD. Our companies are at the cutting edge of advocacy, employment, and support services for young people and adults living with autism—having just established the Greenleaf Neurodiversity Center in Austin TX, helping young people transition to rewarding, community-based jobs. These services have had a profound impact on so many lives—and stand as a powerful rebuke to the stigmatization of autism, and a resounding affirmation of acceptance. All of our lives are richer when people of all abilities participate fully in community life.

Please join us during Autism Acceptance Month in celebrating people of all abilities. Thank you for striving toward making acceptance the new normal.

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Chelton Loft Chosen to Participate in NYC Mural Arts Project to Reduce Stigma of Mental Illness

Chelton Loft Chosen to Participate in NYC Mural Arts Project to Reduce Stigma of Mental Illness

Artist Kristy MarCarthy shows a mural draft to attendees at the community event.
Charlene Niles, Chelton Loft Assistant Director; Kristy McCarthy, artist; Suzanne Stoute, Chelton Loft Program Director
Artist Kristy McCarthy and Peer Specialist Felix Guzman discussing mural at community event.

Chelton Loft, a Psychosocial Clubhouse for adults living with serious mental illness has been selected to participate in the innovative New York City Mural Arts Project (NYCMAP).

The project is a collaboration between Chelton Loft, a part of Wildcat Services Corporation, and NYCMAP, a program of the NYC Department of Health and Mental Hygiene (NYCDOHMH) that uses the collaborative mural-making process to discuss mental health and foster new relationships in NYC communities. It works with community-based organizations, artists, people living with a mental health condition, and the community at large to promote mental health awareness and break down stigmas associated with mental illness.

Over the course of the six-month project, art workshops are held at Chelton Loft and interspersed with events held in the community, said Suzanne Stoute, Chelton Loft Director. The workshops and events include discussions about peoples’ experiences with stigma around mental illness.

NYCMAP provides a mural artist and a peer with lived mental health experience to lead discussions and develop a theme for the mural. Chelton Loft was chosen among numerous community mental health provider applicants to participate in NYCMAP. At an event on March 21 at EL Barrio’s Artspace, community members were invited to see the artist’s sketch of the mural, provide feedback and to learn more about Chelton Loft.

The ideas for the mural have been contributed by Chelton Loft members, about 15 of whom are participating in the project. The final design will be revealed at its official unveiling at the end of June in East Harlem. The mural will feature scenes reflective of healing, and of the spirit of tolerance, inclusion and support that defines the East Harlem community. It will be 25 ft. x 46 ft. and painted on polytab (also known as parachute cloth).

Chelton Loft, located in East Harlem, has been operating for over 35 years and is accredited by Clubhouse International, which works to strengthen and expand clubhouses worldwide. Clubhouses assist adults living with mental illness to promote their recovery and reintegration into a meaningful role in community life. This is accomplished through the provision of self-help, empowerment interventions, community living, and academic, vocational or leisure time rehabilitation.

The NYCMAP project has had a profound and positive impact on clubhouse members, spurring powerful discussions of the nature and prevalence of mental illness, and inspiring Clubhouse members to create art, some for the first time.

“The event at EL Barrio’s Artspace was positive and fun. Members have reported several interesting takeaways including the discussion around the statistic that 1 in 5 adults have a diagnosable mental illness and a chance to share their talents and skills with the larger Harlem community,” Suzanne said. “It is having a big impact on our members by reminding them that their voices are heard. It is also attracting members of the community, young and old, to learn more about the work of Chelton Loft.”

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Wildcat’s ENABLE Helps Army Veteran William Kimberlin Find His Ideal Job

Wildcat’s ENABLE Helps Army Veteran William Kimberlin Find His Ideal Job

William Kimberlin was always a leader, a hard-charging, competitive guy. He excelled in high school sports, especially wrestling and swimming, and took home may first-place trophies. With a keen desire to protect and serve, William’s goal was to become a police officer. He took law enforcement classes in college. Eager to be active and out in the world, William decided to put college on hold, and in 1996 enlisted in the U.S. Army, entering the service as a mechanic in the Reserves.

A natural leader, William led his squad in in basic training. At the U.S. Army Airborne School in Georgia he packed and inspected parachutes—“The first parachute you pack you jump, and if it opens you pass,” he said. He rose to the rank of E-4 Specialist, with management duties and command of soldiers of lower rank.

In 1998, while still in the service, William was a passenger in a car when the driver fell asleep. The subsequent crash resulted in traumatic brain injury (TBI) William couldn’t speak or talk, and had no movement in his extremities. After three years of intensive physical, occupational, cognitive and speech therapies, he recovered enough functioning to get a driver’s license, but was unable to work for seven years.

William’s first job in upon returning to the workforce was as a substitute teacher in middle schools and high schools in Randolph, NJ. “I love to challenge myself and try new things,” he said. He enjoyed working with the students, but struggled with technology as it became more central to teaching.

William worked at Home Depot for a while, but wanted something more meaningful—something in keeping with the desire to serve that first sparked his interest in law enforcement and the military. He went to the New Jersey Division of Vocational Rehabilitation Services (DVRS), and earned his SORA License a security guard certification. He was referred to ENABLE for workforce training and job placement, and in 2018 began working with Lindsey Crean, MA, and District Supervisor/Senior Job Developer for ENABLE, a program of Wildcat Services Corporation.

It was a fortuitous meeting. Over the ensuing months William and Lindsey met at a public library to work on William’s resume and practice his interview skills. William had short stints at other jobs while he sought work as a security guard. Lindsey accompanied him to five interviews for a security guard position, helping him with paperwork. William did most of the talking.

He was turned down for each. “William spoke slowly and was sometimes hard to understand, but I think the reason he wasn’t hired is because there are still a lot of companies that are not open to hiring people with disabilities,” Lindsey said.

The rejections were especially disappointing because William has made remarkable progress in his speech and mobility since Lindsey first met him in 2018. “When he first called him to schedule intake in 2018 he was harder to understand,” Lindsey said. “Now, he is very calm and easy to understand, and is getting better every time I talk to him. Also, William is a great guy and a proud American. He is reliable and dependable, and a hard worker who wants to do the right thing. He has greatly improved his own life, and goes out of his way to help others.”

As is often the case, the issue is less about William’s abilities than the assumptions people make about people with disabilities. Not only is William’s speech easy to understand–his words are thoughtful, intelligent and articulate. He just speaks more slowly than others.

“I have found over the years that people are very sympathetic, but they don’t want to deal with disabilities,” William said. “People with TBI often have slurred speech, and they are not willing to put the effort in to get to know me or allow me to talk.”

In 2018, William was offered a job at White Meadow Lake, a residential community in Rockaway, NJ, with lakes, pools and docks for boats. White Meadow Lake Management have taken William under their wing and helped him build a career. William patrols in a security vehicle and is friendly with many of the residents. He works about 10 hours per week, and is a participant in ongoing TBI studies. He likes his job very much and hopes to get married and settle down.

William and Lindsey regularly keep in touch. Lindsey has a sister who lives in White Lake Village, and they often see each other there. “Lindsey has been extremely helpful,” William said. “When I struggled with technology and she was fantastic, putting various apps on my phone like Zip recruiter to help me find work. Even today, she knows more about my benefits than I do.”

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Alberta Jones Exhibited a Kind of Courage Many of Us May Not Be Able to Grasp

Alberta Jones Exhibited a Kind of Courage Many of Us May Not Be Able to Grasp

Alberta Jones is the civil rights leader almost no one knows.”
The New York Times

March 28, 2022

As we come to the end of March and Women’s History Month and seeing what has taken place in the confirmation hearings of Ketanji Brown Jackson, I thought it important to share the profile of a woman you may not know, but who has come to mean a great deal to me—Alberta O. Jones. She was a woman of grit and humor. And like every one of the women profiled during Black History Month, she possessed tremendous tenacity and courage. She was smarter than most everyone around her and yet according to account after account, she was both humble and kind. I am deeply moved by her powerful life and tragic death.

Ms. Jones was born in Louisville, KY in 1930, a time when women, especially women of color, were still discriminated against in virtually every segment of society. Amazingly, she graduated third in her class from the newly integrated University of Illinois and went on to graduate from the Howard University School of Law. Remarkably, when she appeared to take the Kentucky Bar exam, photographers were there to record the event, as she was the only Black woman to ever take the State bar exam. David A. Jones Sr. (no relation) who later went on to co-found Humana Inc., described Ms. Jones as “intelligent, funny and humble with an incredible career ahead of her.”

I became especially intrigued by Ms. Jones when I learned that she was the not only the first Black woman admitted to the bar in Kentucky, but the first woman prosecutor in the Domestic Relations Court. She developed a strong reputation for successfully prosecuting domestic violence cases—a remarkable feat given that many of the cases she tried for spousal abuse involved white men. Doing this in the Jim Crow era required a kind of courage many of us may not be able to grasp.

According to a profile by PBS, when Ms. Jones was interviewed by the Louisville Courier-Journal, she was told, “You’ve got two strikes against you. You’re a woman and you’re a Negro.” Her response was, “Well that means I have one strike left, and I’ve seen people hit home runs many times when they have two strikes.”

She was passionate about helping Black Americans become active in the political process, creating the Independent Voters Association which registered 6,000 African American voters. Her efforts resulted in a major political shakeup in 1961 when Black voters helped oust the mayor and many of the city’s aldermen. Another effort involved successfully petitioning the Board of Voter Registration to set up registration booths in each of the city’s twelve wards. Two years later, the new city administration enacted the first public accommodations ordinance in the South.

Ms. Jones was a member of the Fall City Bar Association, the Louisville Bar Association and the American Bar Association. She helped organize the 1963 civil rights marches in Louisville and the March on Washington on August 28 of that year. She is also known for helping a neighbor of hers negotiate his first boxing contract before he changed his name to Mohammad Ali.

It is hard to fathom what else Alberta Jones might have accomplished had her life not been cut short at the age of 34. On August 5, 1965, her body was discovered in the Ohio River. An autopsy revealed that Jones had received several blows to the head before being tossed unconscious into the water, where she drowned. The case is still not solved.

Alberta Jones es la clase de líder de los derechos civiles que casi nadie conoce".
The New York Times

Alberta Jones Mostróuna Especie de Valor que Muchos de Nosotros No Podemos Comprender

28 marzo de 2022

A medida que llegamos al final del mes de marzo y del Women’s History Month y viendo lo que ha estado pasando en las audiencias de confirmación de Ketanji Brown Jackson, pensé que era importante compartir el perfil de una mujer que quizás no conozcas, pero que ha llegado a significar mucho para mí. Alberta O. Jones Era una mujer con agallas y de buen humor. Y como cada una de las mujeres descritas durante el Black History Month, poseía una tremenda tenacidad y coraje. Era más inteligente que la mayoría de las personas en su entorno y, sin embargo, según versión tras versión, era humilde y amable. Estoy profundamente conmovida por su influyente vida y su trágica muerte.

Alberta O Jones nació en Louisville, KY en 1930, una época en que las mujeres, especialmente las mujeres de color, todavía eran discriminadas en prácticamente todos los segmentos de la sociedad. Sorprendentemente, se graduó tercera en su clase de la recién integrada Universidad de Illinois y se graduó de la Facultad de Derecho de la Universidad de Howard. Notablemente, cuando apareció para tomar el examen del Colegio de Abogados de Kentucky, los fotógrafos estaban allí para documentar el evento, ya que fue la única mujer negra en tomar el examen del Colegio de Abogados del Estado. David A. Jones Sr. (sin conexión), quien más tarde cofundó Humana Inc., describió a la Sra. Jones como “inteligente, divertida y humilde con una increíble carrera por delante”.

Me intrigó especialmente la Sra. Jones, cuando supe que ella era no solo la primera mujer de Color admitida en el colegio de abogados en Kentucky, sino la primera mujer procuradora en el Domestic Relations Court. Desarrolló una sólida reputación por enjuiciar con éxito casos de violencia doméstica, una hazaña notable dado que muchos de los casos que enjuició por violencia doméstica, involucraban a hombres blancos. Hacer esto en la era de Jim Crow, requirió un tipo de valor que muchos de nosotros no podemos entender.

Según una reseña de PBS, cuando la Sra. Jones fue entrevistada por el Louisville Courier-Journal, le comentaron: “Tienes dos outs en tu contra. Eres una mujer y además eres una mujer de Color”. Su respuesta fue: “Bueno, eso significa que me queda un out, y he visto a la jugadores pegar jonrones muchas veces cuando tienen dos outs”.

Le apasionaba ayudar a los estadounidenses negros a participar activamente en el proceso político, creando la Independent Voters Association que registró a 6,000 votantes afroamericanos. Sus esfuerzos resultaron en una importante reforma política en 1961 cuando los votantes de Color ayudaron a derrocar al alcalde y a muchos de los concejales de la ciudad. Otro esfuerzo consistió en solicitar con éxito a la Board of Voter Registration que estableciera urnas de votantes en cada uno de los doce distritos de la ciudad. Dos años más tarde, la nueva administración de la ciudad promulgó la primera ordenanza de ubicación pública en el sur.

La Sra. Jones fue miembro de la Fall City Bar Association, de la Louisville Bar Association y de la American Bar Association. Ayudó a organizar las marchas por los derechos civiles de 1963 en Louisville y la Marcha de Washington el 28 de agosto de ese mismo año. También es conocida por ayudar a un vecino suyo a negociar su primer contrato de boxeo antes de que cambiara su nombre a Mohammad Ali.

Es difícil comprender qué más podría haber logrado Alberta Jones, si su vida no se hubiera visto truncada a la edad de 34 años. El 5 de agosto de 1965, su cuerpo fue descubierto en el Ohio River. Una autopsia reveló que Jones había recibido varios golpes en la cabeza antes de ser arrojada inconsciente al agua, donde se ahogó. El caso aún no se ha resuelto.

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Fedcap’s Document Management brings One Stop Solutions to Business

Fedcap’s Document Management brings One Stop Solutions to Business

The Fedcap Group has been recognized as a pioneer in social enterprise since its founding 87 years ago. That proud tradition lives on today in the work of Fedcap Rehabilitation’s Digital Imaging and Document Management team.

Under the leadership of Kevin Pugh, the team’s excellent work has left a trail of very satisfied internal customers. “When the Document Management team started working at different customer sites, we talked about delivering the best quality of services and viewing all opportunities as potential customers with referrals,” Kevin said. “I am extremely proud of the staff because of their dedication and commitment to successfully establish the first mobile scanning team at Fedcap.”

Fedcap’s Career Services program offers youth and adults (18-24 years) applying for or receiving cash assistance benefits opportunities to help them increase their job skills and build a career that will lead to success and financial security. Referrals are made through the program’s contract partner, NYC Human Resources Administration.

Each year Career Services programs are audited by the city and state, and are required to maintain client records, said Kelly Washburn, Senior Director of Workforce Development. The program, which began in 2017, was paper-based for its first years of operation, generating mountains of paperwork including intake forms, job search logs and assessments that were stored in hundreds of boxes in file rooms.

The excessive storage created major headaches. Document retrieval was inefficient and time-consuming. Storage was expensive, as there was no room to keep all the boxes on site. Fedcap Inc. maintains a risk register for all programs of factors that could adversely impact program operations or contract requirements. The paper overload problem in Career Services was part of the register.

When the pandemic hit and referrals were put on hold, the team saw an opportunity to digitize the documents. Kelly heard about the document management team from a colleague, and a decision was made to use this valuable internal resource. Within a week Kevin assessed the job, and provided cost breakdowns and a proposal. Coordinating with the program’s operations manager, Kevin brought the equipment on site, and then brought in his team.

The work began in October—converting documents into images and digitizing the entire filing system—and was completed by the end of March. The program is far more organized and efficient now. Client files stored in a secure SharePoint folder can be accessed with the click of a button, whereas before staff might have searched for hours or days. Digitization never would have happened without the document management team, as it would have taken staff years of work and cut into valuable client time.

”The team was super professional and efficient, and made everything so easy for us,” Kelly said. “They treated us like any valued commercial customer, and far exceeded expectations.”

When Silvia Estrada started her current position as Director of Justice Initiatives for Fedcap Inc., filing and recordkeeping for the Rikers SMART program were paper-based. With no formalized system and piles of boxes and paperwork, Silvia reached out to Kevin for help. The team picked up the boxes of documents and organized them so that every single case file had a name and could be easily accessed. When the SMART contract was up for renewal the team returned a second time to organize documents for the jail-based program, and again the team came through, completing the job within a week.

The impact of the document management team’s work has been remarkable, saving uncountable staff hours. The program is audited regularly by its funder, NYC Department of Corrections–there have been three separate audits since the digitization effort. In the past it took a month to prepare for audits, and required a team of five people to search for the relevant documents. Now, it takes a few days, and Silvia can do it herself. “This is an amazing resource that a few years ago we didn’t know existed,” she said.

While Fedcap Rehab’s Article 31 clinic in the Bronx maintains electronic records for current clients, it had a massive backlog of paper records that it was obliged to maintain for six years. Kevin’s team came to the location and did the scanning work onsite, and arranged for proper disposal of paper records.

“Kevin devised a one-stop solution for us, and did it in accordance with HIPPA requirements,” said Ed Bolognini, Executive Director of Wildcat and ReServe. “They delivered platinum-level service ahead of schedule and at an excellent price. Whenever I call Kevin with a question he calls me back ASAP and remembers every detail about the job. This is social enterprise at its best, delivering a quality product while having an impact in keeping with our mission.”

To find out how our Print Imaging and Document Management Services can capture and maintain your vital data, contact Kevin Pugh, Document Management Manager, at kpugh@fedcap.org.

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Helping Employees Manage Financial Stress as a Component of Employee Wellness—A Way to Reduce Employee Turnover

Helping Employees Manage Financial Stress as a Component of Employee Wellness—A Way to Reduce Employee Turnover

March 21, 2022

Over the past several months I have been focusing on employee health and well-being. A critical component of employee well-being is effective money management. Attending to this within your staff can offer tremendous benefits to both you and the employee.

We all know that every time we replace an employee it costs the organization a significant amount of money. The Society for Human Resource Management (SHRM) reported that on average it costs a company 6 to 9 months of an employee’s salary to replace him or her. For an employee making $60,000 per year, that comes out to $30,000 – $45,000 in recruiting and training costs.

Why do employees leave? According to Robert Half, an American human resource consulting firm, 38% of employees leave their jobs as a result of “inadequate salary and benefits.” “The stronger hiring climate today means employees who don’t feel well compensated may be more willing to look for a new, better-paying job,” said Robert Half senior executive director Paul McDonald.

Yet what is interesting, is that according to a survey conducted by Bankrate.com, roughly three-quarters of Americans are living paycheck-to-paycheck regardless of income. In another survey published by SunTrust, one-third of respondents cited insufficient financial discipline as the reason they don’t meet their financial goals. Another study done by John Hancock suggests that 34% of workers spend at least some of their work time on personal finances.

So, if approximately 75% employees are living paycheck-to-paycheck regardless of income, 33% cite insufficient financial discipline as the reason for not meeting their goals, and 34% spend some their time at work worrying about their personal finances, it only makes good business sense for employers to structure an employee wellness program that includes financial wellness as an employee benefit.

Not only does a financial wellness program enhance a company’s benefits package, it also educates employees on how to manage their money wisely which can reduce stress, achieve a happier and more engaged workforce, and potentially stop employees from leaving for a higher paying job.

An article in Obsidian HR suggests five key elements to a financial wellness benefit. 

Retirement Planning Options—With Matching Funds
Employers don’t have to contribute to employees’ retirement plans. But if you’re looking for a competitive edge for recruiting and retention, a contribution match might just be it.

Safety Net Insurance
According to SHRM, safety net insurance is the second most important financial wellness benefit employees want. Safety net insurance can include many things but most commonly includes life and disability insurance.

Access to Emergency Funds
A survey done last year by PwC found that 38% of workers have less than $1,000 in savings to deal with emergencies. Offering employees an emergency savings account, funded through payroll deductions, can help employees manage the stress of unexpected expenses.

These accounts can be set up like any savings account and connected to a debit card. Funds are deducted from employees’ paychecks like a retirement account, but employees can access funds whenever without penalties. It just helps employees save that much more in case of an emergency.

Financial Reimbursements
Financial stipends can further relieve some of the financial burdens that workers may face. Some benefits include student loan repayment plans, caregiver or child care support funds, professional development stipends or commuting assistance.

Financial Planning & Coaching
Helping employees understand how much income or retirement savings they’ll need in the future can motivate them to prepare for retirement. Many workers lack the financial literacy, resources, and tools necessary to find this information. A financial wellness program could include education on budgeting, saving, investing, and paying off or managing debt.

The line between work and personal life in the age of remote working is becoming increasingly blurred. Understanding the many aspects of an employee’s life that can impact overall well-being is a critical component to building an engaging employee wellness strategy. Financial well-being must be considered in the mix of developing a plan that helps your organization remain competitive.

21 de marzo 2022

Ayudar a los Empleados a Manejar el Estrés Financiero como un Componente del Bienestar de los Empleados: Una Forma de Reducir el Reemplazo de Empleados

En los últimos meses me he centrado en la salud y el bienestar de los empleados. Un componente fundamental del bienestar de los empleados; es la administración efectiva del dinero. Atender esto con tu personal puede ofrecerte enormes beneficios tanto para ti como para el empleado.

Todos sabemos que cada vez que reemplazamos a un empleado le cuesta a la organización una cantidad significativa de dinero. The Society for Human Resource Management (SHRM) informó que en promedio a una empresa le cuesta de 6 a 9 meses del salario de un empleado reemplazarlo. Para un empleado que gana $ 60,000 por año, eso equivale de $ 30,000 a $ 45,000 en costos de contratación y capacitación.

¿Por qué dejan el trabajo los empleados? Según Robert Half, de una firma estadounidense de consultoría de recursos humanos; el 38% de los empleados abandonan sus trabajos como resultado de “salarios y beneficios inadecuados”. “El ambiente de contratación más fuerte hoy en día, significa que los empleados que no se sientan bien compensados pudieran estar más dispuestos a buscar un trabajo nuevo y mejor remunerado”, dijo Robert Half, del director ejecutivo Paul McDonald.

Sin embargo, lo que es interesante es que, según una encuesta realizada por Bankrate.com; aproximadamente tres cuartas partes de los estadounidenses viven de cheque en cheque independientemente de sus ingresos. En otra encuesta publicada por SunTrust, un tercio de los encuestados mencionó la insuficiente disciplina financiera como la razón por la que no alcanzan sus objetivos financieros. Otro estudio realizado por John Hancock, sugiere que el 34% de los trabajadores dedican al menos parte de su tiempo de trabajo a las finanzas personales.

Por lo tanto, si aproximadamente el 75% de los empleados viven de cheque en cheque independientemente de sus ingresos, el 33% menciona la disciplina financiera insuficiente como la razón para no alcanzar sus objetivos, y el 34% pasa parte de su tiempo en el trabajo preocupándose por sus finanzas personales; solo tendría sentido comercial que los empleadores estructuraran un programa de bienestar para empleados que incluyera el bienestar financiero como un beneficio para los empleados.

Un programa de bienestar financiero no solo mejora el paquete de beneficios de una empresa; sino que también educa a los empleados sobre cómo administrar su dinero sabiamente, lo que puede reducir el estrés, lograr una fuerza laboral más feliz y comprometida, y potencialmente evitar que los empleados se vayan a un trabajo mejor remunerado.

Un artículo en Obsidian HR sugiere cinco elementos clave para un beneficio de bienestar financiero.

1. Opciones de Preparación para el Retiro: Con Fondos Compensatorios
Los empleadores no tienen por qué contribuir a los planes de jubilación de los empleados. Pero si estás buscando una ventaja competitiva para la contratación y la retención, una compensación de contribución podría serlo.

2. Seguro de Garantía de Seguridad
Según SHRM, el seguro de garantía de seguridad es el segundo beneficio de bienestar financiero más importante que los empleados desean. El seguro de garantía de seguridad puede incluir muchas cosas, pero más comúnmente incluye tanto el seguro de vida como el de incapacidad.

3. Acceso a Fondos de Emergencia
Una encuesta realizada el año pasado por PwC encontró que el 38% de los trabajadores tienen menos de $ 1,000 en ahorros para hacer frente a emergencias. Ofrecer a los empleados una cuenta de ahorros de emergencia, financiada a través de deducciones de nómina, puede ayudarlos a manejar el estrés de gastos inesperados. Estas cuentas se podrían configurar como cualquier cuenta de ahorros y conectarse a una tarjeta de débito. Los fondos se deducirían de los cheques de pago de los empleados, como una cuenta de jubilación, pero los empleados podrían acceder a los fondos siempre que sea sin multas. Simplemente ayudaría a los empleados a ahorrar mucho más en caso de una emergencia.

4. Reembolsos Financieros
Los subsidios financieros pueden aliviar aún más algunas de las cargas financieras que los trabajadores puedan enfrentar. Algunos beneficios incluyen planes de pago de préstamos estudiantiles, fondos de apoyo para el cuidador/a o para el cuidado infantil, subsidios de desarrollo profesional o de asistencia para viajar.

5. Planificación Financiera y Capacitación
Ayudar a los empleados a comprender cuántos ingresos o ahorros para la jubilación necesitarán en el futuro, puede motivarlos a prepararse para la jubilación. Muchos trabajadores carecen de la educación financiera, los recursos y las herramientas necesarias para encontrar esta información. Un programa de bienestar financiero podría incluir educación sobre el presupuesto, el ahorro, la inversión y el pago o el manejo de la deuda.

La línea en la era del trabajo a distancia, entre el trabajo y la vida personal se está volviendo cada vez más borrosa. Comprender los muchos aspectos de la vida de un empleado que puedan afectarle el bienestar general, es un componente crítico para construir una estrategia atractiva de bienestar de los empleados. El bienestar financiero debe ser considerado como parte de la mezcla de desarrollar un plan que ayude a tu organización a seguir siendo competitiva.

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Single Stop Announces New Features to Help Lift People Out of Poverty

Single Stop Announces New Features to Help Lift People Out of Poverty

Single Stop recently announced dynamic new features in its client screener, case management, and reporting software. The features and improvements are included in the software release that went live on January 25.

Single Stop technologies have helped over 46 million Americans living in poverty access billions of dollars of life-changing benefits and resources. Its innovative platform screens clients for benefits and connects them to public resources and support partners. From their home or with a Single Stop case worker, clients can determine their benefits eligibility, get application information, and develop a network of services to meet their needs, putting them on the road to economic stability.

The Single Stop client screener now features screening for Federal Pell Grant eligibility and funding. Learn more about the screener and how it helps lift people out of poverty on the Single Stop website.

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