Financial Literacy vs. Financial Action: Closing the Gap

In the dynamic landscape of 2024, HR professionals are navigating a new era of challenges when it comes to employee financial wellness. Beyond the traditional focus on financial literacy, there is a growing recognition that action-oriented solutions are essential. In this blog post, we explore the evolving landscape of financial wellness and how QUBER is leading the charge in closing the gap between financial knowledge and action.

Understanding the Shift: From Literacy to Action

Financial literacy programs have long been a staple in employee wellness initiatives. While knowledge is undeniably crucial, the 2024 workforce demands more. Employees are seeking actionable steps that translate financial know-how into tangible improvements in their financial well-being. Experiential learning, which involves learning through experience or "learning by doing," is a well-recognized educational theory and emphasizes the importance of concrete experiences and active experimentation in the learning process. Combining experiential learning with small wins and earned incentives is a game-changer when it comes to building new financial habits (and getting rid of old ones).

  <img src="https://images.squarespace-cdn.com/content/v1/5f0c7bd7d4370a12c0c75a06/6b83f373-4ecb-4b9f-ae45-cf9d7460117f/Untitled+design+%2853%29.png?format=original" alt>

The Pitfalls of Traditional Approaches

Traditional financial literacy programs often fall short in inspiring real change. They may provide valuable information, but without an actionable component, employees will struggle to implement what they've learned. As HR professionals, recognizing these limitations is the first step toward fostering a truly resilient and financially empowered workforce. 

The financial struggle for your employees is more real than ever. Times are tough – financial literacy levels are low, the marketing machine has made spending (and borrowing) money easier than ever, and on top of it, inflation is at an all-time high.

The key to a successful financial wellness program is to make it as enjoyable and just as easy to save money, as it is to spend it.

QUBER: Bridging the Gap with Actionable Financial Wellness

Enter QUBER, a dynamic and engaging financial wellness benefit that goes beyond literacy to focus on meaningful action. Rooted in our commitment to making people happier financially, professionally, and personally, QUBER transforms financial education into practical habits.

With QUBER, your employees create digital Saving Jars based on their own unique financial priorities. You can motivate them to get started, reach saving milestones, and complete Saving Challenges through cash or other incentives.

Throughout QUBER’s transformative process, we help employees create and manage a budget, plan ahead for their financial goals (short, medium, and long term), reduce impulsive spend, and become mindful with their money.

Each milestone they reach and every Challenge they succeed at, their confidence grows, and financial health improves.

Would you like to see QUBER in action yourself? Request access, and we’ll send you over our Demo account credentials.

Our Mission and Vision: Empowering Employees to Take Action

At QUBER, our mission is to create a world where employees are financially empowered. Our vision is to help them make good choices to do more with their money.

And we do just that; we have countless stories of employees who have completely changed their money mentality with QUBER.

Check out our most recent user stories here => Brandon (Assistant Store Manager @ Levi’s) and Natasha (Momentum Participant).

We have 5-years of data that demonstrates our platform works for employees across all income levels, in both US and Canada. As an employer, we’ll help you track the effectiveness of our program and the impact on your employees’ financial health.

Understanding the depth of these financial challenges and prioritizing holistic solutions empowers employees to break free from the cycle of financial stress and pave the way towards lasting financial well-being.

Your Roadmap to Program Implementation

1. Determine your budget to cover program costs and optional incentives (If you have a matching plan already, you can make it inclusive by giving your employees the choice of where they want their match to go).

2. Work with our Employee Experience team to create your QUBER savings program.

3. Program configuration done by QUBER (Less than 2 weeks for out-of-the-box programs).

4. Roll-out the program – we’ll provide you with all the marketing materials you need and we are available for webinars and training with your team.

5. QUBER is first level support during onboarding and continuing throughout the program.

  <img src="https://images.squarespace-cdn.com/content/v1/5f0c7bd7d4370a12c0c75a06/670aa36d-5811-4b1c-8ab0-f3761a1f19b1/Untitled+design+%2854%29.png?format=original" alt>