The American Institute of CPAs and the Society for Human Resource Management have introduced a new award for employers with successful financial education programs.
The Workplace Leader in Financial Education Award is aimed at employers who provide financial education programs that improve the personal well-being of their employees.
“CPAs are committed to improving the financial well-being of Americans, making this partnership between AICPA and SHRM a natural fit,” said AICPA president and CEO Barry C. Melancon in a statement. “Human resource professionals have unique insight into the needs of workers, and CPAs have deep understanding of the topics adults need to understand to manage their finances wisely.”
According to a 2009 SHRM survey, 64 percent of employers offer financial education to workers. The AICPA and the SHRM were inspired to honor the best of these programs by a working group of the President’s Advisory Council on Financial Literacy. The council’s Subcommittee on Workplace Financial Education suggested the creation of an award to recognize employers who are excelling in this area and to highlight the importance of financial education programs in the workplace.
“Employers have a vested interest in developing a financially literate workforce,” said SHRM interim president and CEO Hank Jackson, CPA. “Organizations that invest in financial education can reduce turnover, limit money-related distractions and increase employee engagement. SHRM is proud to join with the AICPA to recognize employers who have created exceptional financial education programs.”
All employers—corporate, not-for-profit and government—with offices in the United States are eligible for a Workplace Leader in Financial Education Award. Interested organizations can submit award applications through July 1 at www.wlife.org, which also includes a toolkit and information to help employers develop their own financial education programs. Applications will be evaluated on the scope of the program, tactics, results and innovation.
Applications will be judged by members of the President’s Advisory Council on Financial Literacy and the National CPA Financial Literacy Commission, HR professionals and CPAs. The winners will be announced in October.
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