In addition to physical and mental wellness, we strive to keep Fools’ financial health on the upswing. Thanks to our Foolish Learning and Development team, Fools recently celebrated “Financial Health Day” by budgeting their workdays to learn more about our employee benefits, attend educational workshops, and participate in office hours with Foolish financial planners.
Classes on the agenda were all Fool-taught and included How to Buy a Home, Couples & Cash, Foolish Family Finances, and Estate Planning: Wills, Trusts, and Health Care Powers of Attorney – Oh, My! One of the most popular classes was Living Cheap, which was hosted by Rule Your Retirement advisor Robert Brokamp.
Here are 3 tips from this session that can help you, too, cut your expenses:
1. Monitor your spending every day. One Foolish reader wrote, “If you do this for 30 days, it can change your life. Also, that feeling of being in complete control of your finances is a real self-confidence boost.”
2. Food is one of your biggest expenses. Make a master list of what you absolutely need every week, and try not to stray from it when you’re shopping. A wise Fool told us during the class, “It’s not a value if half of it goes bad.”
3. “Use Stuff You No Longer Want to Buy Something You Covet.” Take a look around your house and make note of what you don’t use anymore. Consider selling an item on Craiglist or to a friend, then put the profit toward purchasing something you need.
It could be difficult to host a similar event at your own organization, especially if you don’t work in the finance industry. However, a few of the quick challenges that were introduced throughout our day would be easy to recreate. Tasks that were completed in exchange for raffle tickets included signing into your 401K account and confirming or adjusting the contribution; accessing your free credit score; developing a strategy to get out of debt; downloading our expense system’s app; and confirming correct personal information in our HR platform.
Learning more about your HR tools will help employees understand all of the benefits your company has to offer. Encouraging a dialogue about personal finance – whether it’s providing helpful website links or hosting a full-fledged Financial Health Day like us – will only profit your employees’ well-beings.
While a top-notch workplace culture is enviable, it also sets an example for what other organizations should strive to achieve. Tim Stevens wrote in his FastCompany article, “There is nothing worse than working in an organization that has a bad culture. It doesn’t matter how much money you make or how many weeks of vacation you are given; when you work in a toxic environment, you still come home tense and stressed at the end of each day.” Stevens is on point; I felt miserable on a daily basis during one of my first “real” job experiences (and no, it wasn’t at The Motley Fool).
Stevens goes on to list 12 traits that suggest your organization is among those with a fantastic culture. Here are a few that resonate with our organization:
1. Turnover is Low.
We want our employees to be Fools for life. Our turnover rate is less than 2%, which is remarkable by industry standards. We go to great lengths to ensure Fools’ happiness, whether it’s ordering gluten-free pizzas to celebrate monthly birthdays or building out more quiet spaces in our office. Foolish coaches also hold regular “Happiness Check-Ins” to chat with Fools about their work-life balance. Low employee turnover means you’re at least doing something right.
2. Team Members are Energized by the Mission.
Fools are passionate about our mission – “To Help the World Invest – Better.” You can feel the energy here, as well as from Fools all over the world. We have full-time Fools based in Canada, Germany, Australia, and Singapore that are all working passionately toward the same goal. When Fools are excited about projects, productivity levels rise to new heights. Creativity can also inflate, adding more valuable ideas to the mix.
3. It’s Not Just a Job.
Fools are not only excited to come to work, but they’re also enthusiastic about Foolish extracurriculars. Fools are friends too, so attending happy hours, concerts, plays, and other cultural events in the area aren’t foreign concepts. In fact, we actually enjoy spending time with our coworkers. We’re not running toward the door to exit right at 5PM (…we do have a flexible schedule), and it’s kind of refreshing from the corporate norm. A work environment is definitely more positive when it has this type of ambience.
4. People are Smiling.
Fools are shiny, happy people (and some are music lovers, too). Our Office Ops team does a great job of keeping FoolHQ an upbeat environment. These creative Fools host activities to all scales, from smaller touches like pushing around snack carts to planning larger events including our annual Holiday Party and company retreat called Foolapalooza.
5. Communication is Strong.
Though communication can always be enhanced, The Motley Fool strives to keep our conversations transparent. It’s important that your employees stay on the same page with what’s relevant, be it your company numbers or external conference opportunities. Fools are happier when information is provided instead of hidden, even if something is in the works. Simply stating “We’re working on it, but we wanted to let you know…” can make all the difference.
Interested in checking out the other qualities that make a workplace enviable and one of a kind? Click here to read more.