In this episode of Inside the Plan with the 401(k) Brothers, Bill Bush, an advisor at Horizon Financial Group, talks with Jason Roussell from ADP about financial wellness, the programs they offer clients, the work they do with Louisiana businesses, and how stress is impacting employees and employers.
Episode Highlights:
- 01:06 – Jason Roussell describes his role with ADP.
- 02:05 – How does ADP see financial wellness fitting into the bigger picture?
- 03:06 – What is Jason Roussell seeing as far as strain on employees?
- 04:22 – What type of programs can ADP offer to clients?
- 07:00 – Jason Roussell discusses ADP Marketplace with 400 integrations.
- 08:08 – 29% of employees say their financial stress has been a distraction at work.
- 09:00 – Medical care costs keep going up and they affect retirement.
3 Key Points:
- ADP makes sure workforces are educated about what is available to them and that they are preparing in the right way so that when it comes time for any major decision that they are viewing it from a holistic approach.
- Prior to 2020, a statistic showed that the amount of time people spent on their phone daily was about 4 hours a day. In 2020 that number has almost doubled.
- Most record keepers now have some sort of financial wellness resources.
Tweetable Quotes:
- “My role is that I serve in what’s called our major accounts division and what we do is we partner with organizations, based out of Louisiana, to help with human capital needs.” – Jason Roussell
- “For people that are entering into retirement age within the next 5 years, which is 65, 48% are projecting that they are going to have to push that back.” – Jason Roussell
- “54% of employees identify that finances are their top source of stress.” – Bill Bush
Resources Mentioned:
