Introduction: Meta LATAM, like many global organizations, noticed that their employees were experiencing increasing levels of financial anxiety. The team became aware of more requests for financial education guidance given that the external economic environment was increasingly turbulent.
The challenge: Despite the extensive and diverse portfolio of benefits, during the pandemic, Meta LATAM took the opportunity to increase in their wellbeing wheel by enhancing financial wellbeing education support available. On discovering the financial education void, research concluded with a set of financial wellbeing objectives to make the biggest possible impact on their people and fill the financial wellbeing gap.
The solution: To deliver on a promise of impact, the team started by reviewing the ‘why’ (why do we need a financial wellbeing program?). Part of the ‘why’ is to outline the scale of the challenge, so one of the tools the team utilizes is nudge’s financial health check-up data to identify and understand employees’ financial health needs. The team uses the employee financial health ‘need’ to align stakeholders with the program, and cross reference all current benefits to bring together a holistic program that caters to the differing circumstances of their global employee communities.
An important aspect of the financial education program for Meta LATAM is trust. The team wanted to create a safe space to learn, Meta LATAM couldn’t risk confusing their people with information that has an ulterior motive. nudge’s impartial financial education is the perfect solution because it is a reputable and a trusted source of financial education.
Now that the team has outlined the challenge, planned out the holistic elements of the program and aligned stakeholders, the next step was communication. Since the benefit program is diverse to suit the dynamic needs of their people, it needs a streamlined communication strategy. Meta LATAM uses nudge to bring the personalized and inclusive communication together into a cohesive experience for their people.
Outcome: Since launching, 90% of Meta LATAM employees are engaged with nudge’s financial education and 96% of those people have come back to continue their study. Demonstrating the program is making a big impact on Meta LATAM people.
In terms of delivering an increasingly holistic benefit program with streamlined communication, nudge has driven 69% engagement with the retirement contribution window and 65% engagement with their global RSU (restricted stock units – Meta shares) trading window.