How Eight Eleven Group and Your Money Line Drove Employee Engagement to Staggering Heights with Financial Wellness
Eight Eleven Group has a whopping 62% of employees engaged with Your Money Line. You understand this number’s true value as a person in wellness or human resources. And Eight Eleven Group is proud of how they got there. Located in Indianapolis, IN, this national healthcare technology company provides access to IT professionals for healthcare providers. With a young, diverse, and motivated workforce, Eight Eleven is consistently finding creative ways to provide them with resources to help with their finances. Your Money Line was ready for the challenge.
Eight Eleven realized it was crucial to the well-being of their employees to be able to support them financially, and that’s why they chose Your Money Line. With many young professionals, some right out of college, it is essential to have a benefit that guides them in handling their money. The Your Money Line dashboard provides resources from budgeting, paying off student loans, planning for retirement, buying a home to taking full advantage of the company’s benefits. But this wasn’t what sold Eight Eleven Group; it was the personalized, confidential guidance the YML Financial Guide team provided. Equipping their employees with professional financial guidance at an individual level truly sets Your Money Line apart and sets both up for a successful partnership.
“Often times one of the biggest challenges personally and professionally is deciding where and how we spend the money we work so hard for. Whether it be school loans, buying a car, saving money to buy a house, or thinking about starting a family, Eight Eleven wants to help our employees understand how to best spend our hard-earned money.”
Paige Grumme, Executive Administrator at Eight Eleven Group
Grumme and Eight Eleven saw the problem and knew YML was the solution, but they needed to figure out a way to promote the service to their employees. Engagement is the key to offering a financial wellness program that provides the value you want. Attaining that engagement can be one of the most challenging parts of the process.
Your Money Line isn’t a turn-key solution; we pride ourselves on walking alongside our customers to ensure they reach their engagement goals. Eight Eleven Group was a perfect partner in this process. They understand that engagement is key to providing their employees with a great benefit and overall employee satisfaction. The key way Eight Eleven Group achieved its high engagement rate was to prioritize engagement in the onboarding process. As an actively growing company, the new hire onboarding program was fundamental in engaging employees early. According to Grumme, “during new hire training, we have a session where we explain to new hires that they have access to Your Money Line and how it is an awesome incentive! The week after training, we send out an email re-iterating the incentive along with a video from Pete and a link to register.”
To Grumme, Your Money Line is an incentive in and of itself because YML provides one-on-one coaching at no cost to the employees. “We teamed up with Your Money Line to provide an elite program for every single Eight Eleven employee! Every employee will have access to a dedicated & confidential phone line to ask their toughest financial questions. It is their very own Financial Guide, which is an awesome incentive! Our employees love this,” Grumme said.
Another way they engaged employees was by including recruiting flyers and inviting Your Money Line founder and CEO, Peter Dunn, more commonly known as Pete the Planner®, to their conferences to speak. “Additionally, we host two national conferences each year, and we always use those as an opportunity to re-engage employees with the program by mentioning it during the general sessions or having Pete or his team onsite to discuss the program,” Grumme said.
The engagement numbers speak for themselves with a total of 439 registrations and 341 total cases to date. However, Your Money Line is dedicated to the individual stories that tell of the real impact. To see beyond the numbers, it is important to see it from a participant’s perspective.
Like many young professionals, Chris has aspirations to grow in his role at Eight Eleven and his overall financial life. His new role marked a turning point in his career as it introduced him to a new income level and opportunities he hadn’t had before. Chris was eager to learn about maximizing his financial opportunities with his income and workplace benefits. However, he was also dealing with student and credit card debt, a burden that was becoming unbearable. This turning point of new income was a relief but also added a new stress level to his life. Our Financial Guide, Stacy, provided beginning steps by explaining how to use our dashboard as a resource. Through the dashboard, Chris has taken the Your Money Line: Budgeting course, used the Debt Momentum tool, calculated his Power Percentage, explored Your Money Life: Your 20s course, as well as joined the Stability Academy program that meets monthly. Chris is still working with Stacy on exploring savings options, creating a repayment plan for debt, and getting educated on his company’s 401k retirement plan. His financial confidence has soared and he’s ready to take the next steps on his financial journey with purpose.
*Name and identifying details have been changed for anonymity
Your Money Line filled a significant benefit need that Eight Eleven Group lacked on their employee development roadmap. Eight Eleven Group recognized the needs of their employees and took action. Your Money Line has helped bring clarity to Eight Eleven Group employees’ financial journeys by providing expert advice from our Certified Financial Planners® and Accredited Financial Counselors®. Our Financial Guides have advised them on important topics ranging from 401k retirement plans, budgeting, and paying off student loans, to taking full advantage of their company’s employee benefits package. Our guides provide expert advice, but they focus on empathic listening to meet participants where they are. The YML dashboard, available 24/7, provides tools, articles, courses, guidebooks, and our Stability Academy assessment to fill gaps in knowledge and help create a unique learning path for each user. Your Money Line is here to simplify financial wellness for your employees.