On October 16, 2024, Best Money Moves Founder & CEO Ilyce Glink accepted the Social Impact Award from Smart Business Dealmakers at their annual Chicago conference. This is her acceptance speech.

Marne, thank you for that gracious introduction. And, thank you to the nominating committee for honoring Best Money Moves with a 2024 Dealmakers’ Social Impact award.

When I began my career in financial journalism, appearing on the radio, television and writing hundreds of newspaper articles and columns each year, an advisor of mine told me I needed to have a motto for my career. After trying out a few, I landed on this: Helping people make smarter decisions with their money.

As is so often the case these days, my career has expanded from its service journalism beginnings. I started a second company, Think Glink Media, to help connect financial services companies in better, smarter, more innovative ways with the clients and customers they serviced. I co-founded a third company that connected a Fortune 100 healthcare company with healthcare consultants, experts, influencers and healthcare journalists. Once that was sold, I started thinking about how consumers were experiencing financial stress in the wake of the Great Recession. And, given that nearly 70% of our population lives paycheck-to-paycheck today, including a third of those earning more than $250,000 per year, they still are.

That’s the foundation of Best Money Moves, my financial wellness company. We help employers measure their employees’ level of financial stress with a variety of assessment tools, then leverage artificial intelligence to help personalize the information, tools, and solutions we push to each employee. (We use Anthropic, by the way, since my son works there and, well, family first!) And, we can even send employees information about their own company’s benefits. So they make smarter financial decisions every day.

For employers, we offer an unparalleled level of customization and curation out–of-the-box, the ability to build in your own benefits, grouped for specific portions of your workforce, as well as analytics that would be difficult to get anywhere else.

Today, around 1,000 companies trust Best Money Moves with their employees’ financial wellbeing. What I’ve learned is that when employees feel less financial stress, there’s a real ROI for employers: Less chronic illness and addiction issues, fewer heart attacks, better health outcomes, sure. Also, less turnover and more focused, productive employees. Their employees feel happier and sleep better. Bonus: They’re less grouchy, too.

Since Black and Brown families have about one-tenth the wealth of White families, we’ve found creative ways to work with nonprofits, religious organizations, colleges and universities, local governments and for-profit companies enmeshed in those communities. We’ve developed give-back programs to help fund their initiatives. We’ve created special versions of Best Money Moves, which we call “Pro,” to cater to micro-businesses and start-ups packed with partnerships that we believe will resonate with those employers and their employees. And, we work to make sure everyone who needs access to Best Money Moves has it.

The feedback, testimonials, and ratings we’ve received make it all worthwhile. We are helping people make smarter decisions with their money everyday. Which is enormously gratifying. Less so is the hard work we’ve done over the past eight years to educate employers on the very real benefits of a less financially-stressed workforce.

Financial stress is the #1 reported workplace stress. Financial wellness has been the #1 requested benefit for the past few years. We must all look for ways to turn down the volume on our highly stressed workforce and find opportunities to help our employees feel better about themselves, their earning potential and their financial futures.

I have a few people I’d like to thank starting with our incredible Best Money Moves team, who make us look good every day, my family for all their support, and in particular, I’d like to thank my husband, Sam, who always believes my wildest dreams will come true.

In closing, I’d like to leave you with a quote from the late Herb Kelleher, co-founder, CEO and Chairman Emeritus of Southwest Airlines until his death in 2019: Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with your employees and the rest follows from that.

Thank you.

How to use benefits to stand out to top talent. Companies need a competitive benefits package to attract and retain top talent. Here are the standout benefits your employees are looking for.

Offering a good salary isn’t enough to attract cream of the crop employees — top talent want an employer that’s invested in their development and wellbeing, both professionally and personally.

People are critical to a company’s success, so having a strong talent acquisition strategy is key in today’s competitive job market.
Learn how employers of choice are going beyond competitive pay to attract top talent, and ultimately retain top employees.
Companies, regardless of industry and size, struggled with full-time hiring in 2024 — better benefits can boost talent acquisition efforts.

According to research by the Society for Human Resource Management (SHRM), over 3 in 4 companies struggled with full-time hiring in 2024 and nearly 1 in 2 companies have difficulty retaining top talent. This is because top talent are increasingly shopping around for an employer that values their wellbeing, even if that means leaving their current employer.

SHRM’s research also found that regardless of industry or size, recruiting top talent remains a key business issue for all companies.

On the other hand, companies that had success with recruiting in 2024 often cite their strong benefits package as a success factor, according to SHRM. Having a competitive benefits package doesn’t only help get top talent in the door — in the long term, unique value-driven benefits can help retain talented employees.

3 Standout Benefits to Help Attract & Retain Top Talent Employees

1. Tuition support for employees and their family

The cost of attending college and other education programs has skyrocketed in recent decades. As a result, cost has become a large barrier to education for many, but it doesn’t have to be this way.

To support employees’ self-development and improvement, companies are increasingly investing in tuition assistance programs. For instance, some employers of choice offer up to 100% tuition reimbursement for educational self-improvement, including professional training and degree-seeking programs.

Even if the employee themselves isn’t interested in tuition assistance, at some companies this benefit can be leveraged to support the educational costs of an employee’s spouse and children.

2. Flexible work models (hybrid, remote)

Although many companies are shifting back in-office, hybrid work models are here to stay.

Many employees value having the opportunity to work remotely, whether full-time or several days a week. This is because flexible work models can help support employees’ work-life balance, while also creating a more inclusive work environment.

Flexible work models allow all employees to participate in the workforce — including parents, caregivers, and people living with disabilities.

Without hybrid/remote work, almost 40% of mothers say they’d need to decrease their work hours or leave their jobs entirely to meet their caregiver duties, according to research by McKinsey & Co.
In sum, hybrid work may seem like a simple offering, but it’s an impactful benefit that can go a long way for top potential employees.

3. Financial wellness & money management resources

A key step in creating a resilient workforce is meeting your employees’ most top-of-mind worries — and oftentimes, a leading stressor employees face is related to money.

Over 50% of employees say that they’re financially stressed, according to PwC’s 2024 Global Workforce Hopes & Worries survey. Prolonged financial stress can impact employees’ ability to focus and perform their best, which can ultimately lead to lower productivity.

To help employees dial down their money worries, employers of choice have increasingly invested in financial wellness benefits and resources.

Whether it be 1:1 financial advising or personalized savings programs, offering money management benefits can help employers demonstrate to future employees their commitment to all aspects of employee wellbeing, including financial wellness.

Offer top benefits to attract top talent with help from Best Money Moves.

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranginging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

The 4 Important Insurance Terms Gen Z Employees Need To Know. Gen Z employees often struggle to understand common insurance terms. Learn about how employers can help with financial wellness benefits.

Insurance is a complex topic, no matter how experienced you are. However, Gen Z employees are particularly susceptible to a lack of education on insurance terms and policies. In fact, when surveyed by the National Association of Insurance Commissioners (NAIC), only about a quarter of Gen Z adults could define the terms “deductible” (27%) and “copay” (29%). Around 35% said they could define “out of pocket,” while only 19% said they understood the term “out-of-network.”

Engaging with insurance is key to developing a strong sense of financial security. The savings accrued from the right health, auto or renters insurance can be crucial for preventing large expenses that cause many Americans to take on crippling debt.

Here are the top insurance terms your Gen Z employees should know and why they matter.

The Top Insurance Terms Your Gen Z Employees Should Know

Open Enrollment is a period where employees can sign up for, adjust or change their health insurance policies. It is vital for employees to understand when this period starts and ends, in order to be prepared if they (or someone in their family) get sick. Reviewing their plan may also expand their ability to receive prescription drugs and specialized care for certain illnesses.

A MetLife survey found that 30% of Gen Z workers regretted their open enrollment decisions, with over 25% saying they didn’t select enough benefits during the year before. In fact, nearly half of Gen Zers said they waited too long before choosing benefits and 53% said they didn’t understand what was being offered.

A deductible is the amount of money an individual pays (per year or per condition) before insurance companies begin covering any expenses. A copay is a similar fixed payment that occurs each time an individual sees a doctor. A premium represents the actual cost of an insurance plan, dictating the amount a person pays to keep their plan active.

According to WorkLife, only 60% of Gen Zers understand these three insurance terms and can explain how they relate to their coverage. Confusion surrounding insurance often causes people to turn to unreliable sources for help, which can lead to uninformed decisions. Defining insurance terms will allow employees to make the most out of their healthcare benefits and prevent them from being blindsided by unexpected expenses or lack of coverage.

Financial education bridges the information gap

In order to support your younger employees, insurance education must be transparent and personalized to each individual. To ensure your employees understand their insurance policies, include financial wellness into your benefits program.

A financial wellness program offers comprehensive educational resources that gives your team the best chance to succeed when they have questions about their insurance policies. Their pressing questions about insurance, open enrollment and other guidance are packaged into simple, easy-to-understand articles and videos.

It’s clear that financial education, especially surrounding insurance, is vital for your employees’ success. Whether your workforce is fresh out of college or preparing for retirement, the help they need is readily available if your focus targets their financial wellness needs.

Best Money Moves is a mobile-first financial wellness solution designed to help dial down employees’ most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal. With 1:1 money coaching, budgeting tools and other resources, our AI platform is designed to help improve employee financial well-being.

Whether it be retirement planning or securing a mortgage, Best Money Moves can guide employees through the most difficult financial times and topics. We have robust benefits options for employers, regardless of their benefits budget.

Our dedicated resources, partner offerings and 1000+ article library make Best Money Moves a leading benefit in bettering employee financial wellness.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

Employees Face a Healthcare Crisis. Here’s How You Can Help. Employees are experiencing a healthcare crisis due to financial concerns. These are the best strategies employers can use to help.

American families are in the midst of a healthcare crisis and employer-sponsored health insurance can’t keep up. Even with support from employee health insurance programs, millions of American families cannot afford the full care they need.

When surveyed by employee experience company Perceptyx, almost 60% of respondents felt they didn’t have the right health care benefits to cover their care. Another 40% of Americans with employer-sponsored health insurance say they’ve postponed healthcare needs over concerns about cost, according to a study commissioned by health payment card provider Paytient.

Over time, postponing healthcare concerns can further decrease employees’ health and well-being. Learn how companies of sizes and across all industries can help employees access needed care, improve their overall well-being and manage the looming healthcare crises.

Even with insurance, many employees struggle with medical debt

Despite having employer-sponsored health insurance, research has shown that many employees struggle to access healthcare. Having health insurance does not guarantee access to healthcare or the ability to afford it.

Employees often pay out-of-pocket for a portion of their healthcare costs (e.g., copay or deductible). And after multiple visits or treatments, healthcare costs can rack up fast.

About 15 million people carry over $1000 in medical debt, according to the Kaiser Family Foundation (KFF) and about 3 million people carry over $10,000 in medical debt.

To avoid looming medical debt, employees may forgo key healthcare practices, such as:

1. Filling their prescriptions
2. Receiving surgery and procedures
3. Attending a routine medical appointment or checkup

Delaying care can have long-term physical and mental impacts on employees. According to the same Paytient survey, one in six respondents reported that their work suffered from delaying needed care and 31 percent reported lying to an employer while dealing with the effects of not treating their illness or injury.

Your team deserves to feel secure that they can afford healthcare when needed — but are your benefits doing enough to help?

How to help employees manage (and prepare for) a healthcare crisis:

At some point in one’s career, many employees experience some sort of healthcare crisis. What’s important is that employees don’t feel alone while navigating these difficult waters. Here are some tips on how to help employees weather healthcare crises and prepare for the future.

• Emphasize the importance of your Open Enrollment period. Once a year, employees are given a small window known as Open Enrollment, during which time they can make changes to their healthcare coverage. For most employees, this is the only time during which such changes will be possible, aside from select special circumstances. So, when making Open Enrollment decisions, it’s important that employees know how to best utilize this period of time and the healthcare benefits available to them. Employees must be supported in making well-informed decisions during this time as these decisions determine employees’ (and their families’) healthcare coverage and costs for the year ahead. Well before the Open Enrollment period begins, spend time talking to your workers about their benefits options.

• Use modern communication methods to share key healthcare info and reminders. When communicating healthcare information and deadlines to employees, consider complementing traditional communication methods with more modern alternatives. For instance, in addition to sending employees emails and letters, use Slack or Teams messages to share reminders on key healthcare information and deadlines. Reminders, especially from multiple touch points, can be an effective catalyst to improving employee health, both during Open Enrollment and beyond. According to the Agency for Healthcare Research and Quality, adults that receive multiple reminders about their health and healthcare are more likely to receive essential healthcare, such as immunizations and preventative care. Moreover, reminders about key healthcare information can help foster trust between employees and their employer — it demonstrates corporate investment in employee wellbeing.

• Adopt a financial dashboard to help employees manage healthcare expenses. Managing healthcare costs isn’t easy. One medical emergency can dramatically change a family’s financial situation — what may seem like simple procedures and treatments can end up costing hundreds to thousands of dollars for employees. Over time, unpaid medical bills can lead to medical debt.To help employees manage their healthcare costs and avoid medical debt, consider adopting a comprehensive money management dashboard. This can help employees track, manage and predict their medical expenses and much more. With these insights, employees can better understand their healthcare spending habits and make well-informed decisions accordingly. For instance, some families may find that they can dial down their healthcare spending and use that money toward something else, such as covering a car repair or saving for a home. Others, such as those expecting a new addition to the family, may need to increase how much they budget for healthcare costs.By understanding how your employees think about their healthcare costs, companies can make more accurate predictions about their own healthcare expenses.

Help your team face any healthcare crisis head-on with help from Best Money Moves’ intuitive financial wellness platform.

Best Money Moves is an AI-driven, mobile-first financial wellness solution designed to help employees with varying levels of financial knowledge dial down their most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal, ranging from debt management to purchasing a home. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.

Understanding Gamification (The Key to Better Benefits). Gamification is a powerful tool for motivating employees at work. Learn how gamification strategies can improve performance and encourage benefits usage.

Gamification is a powerful tool for motivating employees at work and a valuable addition to financial wellness benefits. These strategies educate employees while encouraging them to set and meet their financial goals in engaging ways.

Also called “motivational design” or “game learning,” gamification involves incorporating interactive elements into various activities throughout an employee’s day-to-day. Doing so may help employees connect with their teammates and company culture, improve business operations or increase employee benefits usage. These strategies can take many forms, from achievements and leaderboards to motivate users, to point-based loyalty programs that encourage frequent purchases.

A survey conducted by TalentLMS found that 83% of employees who used gamified training felt more motivated at work, with 89% reporting feeling more productive and 88% feeling happier. In contrast, 61% of employees who received non-gamified training felt bored and unproductive.

The idea behind gamification is to leverage competition and incentives to meet personal and company goals. However, overdoing it can demotivate employees. Here are some key considerations for gamifying your financial wellness programs.

1. Have defined, measurable goals (and make sure your employees understand those goal).

Start by assessing the overarching goals of your financial wellness program and what you want your employees to achieve through their participation. Break these larger goals into smaller, achievable milestones that employees are excited to work towards. Since gamification relies on incentives and success within the system, it’s crucial that these goals are specific and attainable.

Additionally, make sure your employees clearly understand what they’re working towards. Interest in the financial wellness program can wane if employees are unsure about their objectives, so ensure all game elements are directly linked to the learning material.

2. Offer a variety of incentives within your gamification.

Different motivators resonate with different employees. While some may respond well to progress bars, levels, points systems and badges, others may be more motivated by tangible rewards such as gift cards, vouchers or discounts. Offering a mixture of incentives can help ensure that employees are encouraged to participate and reach their full potential.

3. Give frequent feedback.

One of the quickest ways for employees to lose interest is through a lull in feedback. Providing timely evaluations allows employees to adjust their performance based on results and stay engaged in the competition. Immediate feedback keeps employees motivated and helps them work towards their goals more efficiently.

4. Get people invested in your rewards with gamification.

Gamification is most effective when the incentives resonate with employees. Since gamification often relies on social recognition, it’s crucial to understand what motivates your employees. Engage with them to determine what goals and rewards are most meaningful. Both the objectives and the rewards need to be valuable to ensure that the gamified system is effective and engaging.

5. Don’t force the fun.

Mandatory fun can diminish the enjoyment of gamification. Research indicates that games and activities are more positively received when they are voluntary rather than imposed. By making your gamified program optional, you allow employees to choose whether they want to participate. Ensure that those who opt out still have access to all necessary resources. This approach allows motivated employees to engage in the gamified system while others can continue working towards their financial goals without pressure.

When done correctly, incorporating gamification into financial wellness programs can drive employee engagement and motivation in a fun environment where financial goals are interactive and rewarding. Embrace gamification as a tool to enhance your financial wellness initiatives and empower your employees to achieve their goals with enthusiasm.

Best Money Moves is a mobile-first financial wellness solution designed to help dial down employees’ most top-of-mind financial stresses. As an easy-to-use financial well-being solution, Best Money Moves offers comprehensive support toward any money-related goal. With 1:1 money coaching, budgeting tools and other resources, our AI platform is designed to help improve employee financial well-being.

Whether it be retirement planning or securing a mortgage, Best Money Moves can guide employees through the most difficult financial times and topics. We have robust benefits options for employers, regardless of their benefits budget.

Our dedicated resources, partner offerings and 1000+ article library make Best Money Moves a leading benefit in bettering employee financial wellness.

To learn more about Best Money Moves Financial Wellness Platform, let’s schedule a call. Contact us and we’ll reach out to you soon.