BrightPlan, a leader in total financial wellness for enterprise organizations, announced the launch of its new virtual Financial Wellness Coach. The generative AI-powered Coach provides immediate guidance directly to your workforce by incorporating each employee’s unique financial situation and company benefits as quickly as they ask. The Coach strengthens employee engagement, retention, and benefits utilization globally while offering an unparalleled personalized experience for employee’s financial needs.
“Employees are significantly stressed out about their finances, and its impact on productivity and engagement for employers is only getting worse,” said Marthin De Beer, Founder and CEO of BrightPlan. “This AI Coach will become the driving force behind an employer’s wellness offerings by providing their employees immediate guidance for their personal financial needs, increasing visibility and adoption of benefits while reducing employee-related inbound questions.”
Most HR teams are currently challenged with accomplishing more with fewer resources and a smaller budget. For these busy HR teams, the Coach will help to increase productivity and scale their efforts globally to deliver a consistent and unique employee experience. The Coach will support stronger benefit utilization, provide aggregated anonymous data trends back to the employer, and extend the reach of HR teams by providing expertise that gives both immediate and personalized responses representative of their company’s culture.
BrightPlan’s 2024 Wellness Barometer Survey shows employees, on average, are losing around seven hours of productivity per week. Employees are spending valuable time during business hours managing their finances, and financial stress is impacting their ability to stay focused and engaged. This overall productivity loss for organizations results in a potential loss of $200 billion annually to U.S. businesses. To make matters worse, the survey shows nearly 8 out of 10 survey respondents said they’ve received bad financial advice. And over half (55%) report that they’ve made financial mistakes based on the misguided information they’ve received.
Unlike some other generative AI solutions, the BrightPlan Financial Wellness Coach addresses these issues by providing employees with tailored and actionable guidance based on proprietary data, expert content, and the individual employee’s personal financial situation. Employees can ask the Coach specific questions about their benefits offerings, such as, “How can I maximize my HSA benefit?” or a personally relevant question like, “I expect a major operation next year that costs $10,000. What are my health plan options?”
“Supporting your employees’ financial health directly translates to increased loyalty, reduced turnover, and a more resilient and motivated team,” continued De Beer. “By helping your employees to build a more financially secure future, you are making a strategic decision to positively impact your bottom line while improving culture.”
For more information, visit www.brightplan.com.
