Retiremap is a research-backed financial wellness program, designed with Duke University and renowned professor and NY Times bestselling author Dan Ariely, to coach employees one step at a time on achieving their financial goals.
Recent research reinforces what many HR professionals already know, that the impact of financial education programs on employee behavior is close to zero (1). Instead of educating employees, employers need a program that takes the complexity of financial decision-making, breaks it into actionable components, and coaches them on taking one step at a time. By involving a financial advisor following Retiremap’s research-backed methodology, the program takes advantage of two behavioral strategies that nearly all other financial wellness programs are missing: accountability and confidence-building.
Retiremap’s real-time reporting dashboards measure employee behavior change in the financial wellness program by documenting new employer benefits utilized, as well as goals accomplished, Genius Points earned and advisor coaching sessions completed.
(1) Fernandes, D., Lynch Jr, J. G., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science,60(8), 1861-1883.
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