Phifer, Inc. Financial Wellness Center
The Opportunity
I have had the privilege of knowing and working with Phifer, Inc. for nearly 30 years. In 1997, early in my career, I was introduced to Phifer, Inc. through the company’s retirement plan and had the opportunity to conduct employee retirement seminars.
Today, I propose taking that concept to the next level through a Phifer, Inc. Financial Wellness Center—a comprehensive resource designed to help employees make better financial decisions throughout their careers.
Why Financial Wellness Matters to Phifer, Inc.
Financial stress is not simply an employee issue—it can become an employer issue through lost productivity, distraction, absenteeism, and turnover.
$183 billion — estimated annual productivity loss to U.S. employers associated with employee financial stress.
73% — of U.S. workers report experiencing financial stress at least sometimes.
2×+ — organizations with underdeveloped financial wellness programs were more than twice as likely to report high turnover.
The opportunity: Help Phifer, Inc. employees address financial challenges before they affect their work, their families, or their ability to retire successfully.
The Proposed Phifer, Inc. Financial Wellness Center
A dedicated financial wellness resource available to Phifer employees that could provide:
Retirement Planning & 401(k) Education
Personal Financial Planning
Debt & Cash-Flow Management
Investment Education
Social Security & Medicare Planning
College & Education Planning
Estate & Legacy Planning
Pre-Retirement & Retirement Income Planning
One-on-One Confidential Financial Consultations
Ongoing Financial Education & Workshops
The objective is not simply to conduct another annual retirement seminar. It is to provide employees with ongoing access to financial education and guidance throughout their working careers.
A Potential Pilot Program
I propose beginning with a 12-month pilot program designed around Phifer, Inc.'s workforce and needs.
The program could include:
Education — Regular financial wellness workshops and targeted educational sessions.
Access — Convenient, confidential opportunities for employees to meet individually with Dr. Lance (click for Bio).
Engagement — Topics tailored to employees at different stages of their financial lives.
Measurement — An annual Financial Wellness Report summarizing participation, engagement, and areas of employee financial need—while maintaining individual employee confidentiality.
The Bigger Vision
A financially healthy workforce can contribute to a healthier organization.
The goal is to help Phifer employees:
Make better financial decisions → Reduce financial stress → Improve financial confidence → Prepare for retirement → Successfully transition when the time comes.
For Phifer, Inc., the potential benefits include improved employee engagement, stronger retirement readiness, enhanced employee benefits utilization, greater retention, and a more financially prepared workforce.
Next Step
I would welcome the opportunity to sit down with the appropriate Phifer, Inc.'s leadership team to discuss the concept, identify Phifer, Inc.'s specific employee needs, and develop a pilot program that makes sense for the company.
This is more than another financial seminar.
It is an opportunity to build a long-term Financial Wellness Center for Phifer, Inc., its employees, and their families.
I look forward to continuing the conversation.
Dr. Lance
Research sources: Society for Human Resource Management (SHRM), PwC Employee Financial Wellness Survey and related employer financial wellness research.
