NYSE Euronext (NYX) is one of nine U.S. organizations that have been honored with the first award for excellence in workplace financial education, which recognizes innovative programs that teach employees how to make better personal financial decisions.
The WLIFE award — “Workplace Leader in Financial Education” — was created this year by the American Institute of Certified Public Accountants(AICPA) and the Society for Human Resource Management(SHRM) to highlight the importance of financial wellness in the workplace. It is the first national honor for employers who provide financial education programs that improve the personal well-being of employees.
NYSE Euronext received the award for creating the NYSE Employee Financial Wellness program which teaches employees personal finance and increases financial literacy among its workforce. The NYSE Euronext program, which partners with Vanguard and Met Life, provides employees with information on savings, the value of all of benefits, ways to enhance their personal financial situations and steps to take to become more financially secure and retirement-ready.
“NYSE Euronext actively educates employees about personal finance to increase financial literacy and preparedness and to decrease financial stress among employees,” said Ed Hutner, Senior Vice President, NYSE Euronext. “We provide a full range of information and tools that employees can use to make wise financial decisions. We also encourage our employees to examine their personal financial situations, identify gaps and opportunities, and take action if needed.”
The AICPA and SHRM received more than 300 applications for the inaugural WLIFE award, which were judged by members of the President’s Advisory Council on Financial Literacy, the National CPA Financial Literacy Commission, human resource professionals and CPAs. The winning companies stood out because their financial education programs showed results, innovation, effective tactics and a significant scope in increasing employee financial wellness. The nine winners represent corporate, not-for-profit and government sectors.
AICPA and SHRM define financial wellness as a person’s skill and knowledge for making sound decisions about personal finances, such as saving, budgeting, using credit wisely, education, tax and retirement planning, investing and choosing company benefits wisely. A financially literate workforce understands financial concepts such as the time value of money, the effects of inflation on savings, compound interest and the rate of growth and the benefits of deferred income and reinvested capital gains and interest.
Michelle Greene, VP and Head of Corporate Responsibility for NYSE Euronext and Executive Director of the NYSE Euronext Foundation, will participate in today’s public meeting of the President’s Advisory Council on Financial Capability, moderating an expert panel on “Cracking the Code on Building Financial Capability in the Workplace.”
“NYSE Euronext is committed to the financial wellness of our own employees, those of our listed companies and beyond,” said Ms. Greene. “We offer a number of resources that advance financial literacy to the public, including our NYSE MoneySense website, youth mentoring and instructional programs with Junior Achievement and other organizations.”
The NYSE Euronext Foundation funds a wide range of financial-education organizations and initiatives, including the development of the Workplace Financial Fitness Toolkit, a free, publicly available tool developed by leading independent experts to help employers promote the financial well-being of their employees. The free Toolkit, which can be found at http://nyse.nyx.com/en/financial-fitness-kit, includes a top 10 list of actions employers should take as well as tools and resources to use in implementing or improving their own workplace financial fitness programs.
For more information on the Workplace Leaders in Financial Education, visit www.wlife.org, to find a toolkit and information to help employers develop their own financial education programs.
