Financial Wellness:�The Complete Picture
ABC KEYSTONE HR PEER GROUP
Presented by For The Trades Financial Wellness
INTRODUCTIONS
Meet Your Presenter
Carl Rowits, CPA
ACCOUNTING & FINANCIAL PROFESSIONAL
Penn State alum and Lancaster native dedicated to bringing objective, actionable financial stability to the skilled trades.
For The Trades Financial Wellness
CWR Capital Management
Finance Professional
Agenda
01
The Problem: The Hidden Cost of Financial Stress on Job Sites
02
The Disconnect: Why Traditional Benefits & 401(k)s Leave Field Workers Behind
03
The Solution: Financial Wellness as a Talent Magnet & EAP Partner
04
End: Open Forum and Questions
THE FOUNDATION
What exactly is "Financial Wellness"
65% of Americans say money is a significant source of stress (jumping to 82% for those under age 43).
Over 60% of American households currently live paycheck to paycheck.
45% of families carry credit card debt, with an average debt of $6,300.
36% of families indicated they could not cover an emergency expense of $400.
Financial wellness is the financial situation of a person, household, or family. It is the ability to meet current and also near-term financial obligations while being on track to meet future goals.
THE OPERATIONAL COST
Financial stress does not stay at home. It walks onto the job site every morning.
How Financial Anxiety Manifests in the Workforce:
HR Peer Question
Have you noticed a correlation between an employee's known financial struggles (e.g., garnishments, 401k loans) and their safety record or absenteeism?
THE OPERATIONAL COST
The Cost of Financial Stress to Employers
Lost Productivity
Employees preoccupied with money problems report lower focus, more errors, and reduced engagement (presenteeism).
Absenteeism
Financial stress is linked to more sick days and unplanned absences.
Healthcare Costs
Chronic financial stress contributes to anxiety, poor sleep, and other conditions that raise medical claims.
Turnover & Recruiting Cost
Employees who feel financially unsupported are more likely to leave - and replacing them is expensive.
THE BENEFIT GAP
Expecting an employee to save for a retirement 30 years away when they can hardly afford their bills today.
Companies provide 401(k)s as the ultimate savings tool, but the utilization numbers rarely match the expectations.
82%
of halted 401(k) contributions are due to a lack of emergency savings.*
Group Discussion
What are the most common reasons your employees give for limited participation in the company match, or for requesting 401k withdrawals?
VISUALIZING THE DISCONNECT
account_balance_wallet
Offering only a 401(k) to a financially stressed worker...
local_hospital
...is like telling an injured patient about a brand-new hospital opening in 5 years.
They need help now…
TALENT MANAGEMENT
Financial Wellness as a Talent Magnet
trending_up
Loyalty
Creates a personal support system in their corner. When another company tries to poach them, leaving means giving up a personal support system they can't get anywhere else.
star_border
Differentiation
Few competitors offer robust financial wellness - it stands out on a benefits comparison.
favorite_border
Signals Culture
A strong program signals that the organization invests in employees' whole lives, not just output.
groups
Recruiting Advantage
Support like emergency savings or debt help resonates with candidates competitors overlook.
Financial Health & EAP Integration
THE INTEGRATION
The Stress Reality
Financial stress is consistently one of the top-cited sources of overall stress in employee wellbeing surveys - often ahead of work and health.
The Spillover Effect
Financial wellness is wellbeing. Money worries don't stay contained - they show up as anxiety, sleep loss, and strained relationships.
Connect the Programs
Link financial wellness resources with your EAP and mental health benefits to make support seamless and accessible.
Reduce Stigma Together
Normalizing conversations about money, alongside mental health, makes both challenges easier for your workforce to address early.
The “Total Rewards” Reality Gap
TOTAL REWARDS CAUTION
trending_down
Low-Utilization Trap
Companies invest heavily in comprehensive "Total Rewards" and EAP programs, yet field usage often sits in low single digits.
computer
Built for the Desk
Most corporate benefits live behind complex HR web portals, company internal websites, or password-heavy apps - accessible only from an office computer or requiring "desk-worker" habits.
phonelink_lock
Field Access Barrier
Foremen, superintendents, and crews don't sit at desks. If access requires multi-factor authentication, logins, or desktop browsers, adoption drops to near zero.
report_problem
The Result
HR pays for a high-value line item on paper, while field staff continue to face cash-flow stress without support on the ground.
STRATEGIC VALUE COMPARISON
FTT Fringe Allocation vs. Cash Payout
Strategic Comparison
Payroll Taxes
Cash Payout: 7.65% (FICA) + FUTA/SUTA�FTT Fringe: 0% Exposure
Workers' Comp
Cash Payout: Inflated by cash fringe�FTT Fringe: No Markup
Tax Overhead
Cash Payout: Up to $/hr lost�FTT Fringe: 100% Retained
Field Impact
Cash Payout: Taxed cash spent easily�FTT Fringe: 1-on-1 coaching & debt help
1. The "Cash Trap" Challenge
Paying fringe in cash subjects those dollars to heavy payroll taxes (FICA, FUTA, SUTA) and inflates premiums, costing employers 15% to 25%+ in unnecessary drag.
2. FTT as a Bona Fide Benefit
Allocating prevailing wage fringe credits to FTT shifts those dollars out of the taxable wage base and into an approved educational and financial wellness program.
3. Turnkey Compliance
DOL & ERISA compliant. Works seamlessly with existing Supplemental Benefit Trusts or prevailing wage TPAs, generating itemized monthly statements.
4. Strategic Advantage
Reclaiming lost tax drag reduces overall labor burden on public work, allowing more aggressive bidding with zero out-of-pocket expense.
Financial Wellness for our Hometown Heros
Designed to bridge the gap where traditional EAPs and corporate portals fail.
EXECUTION PARTNER
For The Trades Financial Wellness
Built FOR THE TRADES: Founded by a financial professional who understands the unique tax and cash flow realities of the trades.
Zero Product Bias: We provide education and 1-on-1 coaching. We never sell insurance or funds to your staff (Hometown Hero Promise)
Easy Access: No usernames, no app downloads, or internal websites required. Crews can access us right from their phones.
EXECUTION PARTNER
Our Hometown Hero Promise
100%
Focused on the Trades.
Our entire business is built exclusively to serve the financial realities of hard-working tradespeople.
Zero
Sales Pitches.
We have zero interest in pushing unnecessary products just to increase sales. We sell financial clarity, not commissioned products.
#1
Priority is Education.
Our sole job is to teach and empower your employees, not to manage their assets or treat them like a sales quota.
THANK YOU!
Open Forum & Questions
How is your company currently tackling financial stress?
#717-203-8362
www.forthetradesfinancialwellness.com
Scan to Connect