How Explainer Videos Enhance Employee Financial Literacy
Studies from well regarded sources like PwC consistently show that financial concerns are one of the top stressors for employees. Considering today’s state of the economy, it’s easy to understand why.
Stressed employees are less focused and productive, so it’s safe to say that your employees’ financial illiteracy has a direct lasting results on your business. You can see why investing in your employees’ financial education is a smart follow a positive return.
In today’s piece, we’ll have a look at why you should care about your teams’ financial literacy and how to improve it employing explainer videos.
Real meaning from Financial Literacy in the Workplace
When employees understand budgeting, saving, investing, managing debt, and retirement planning, they become better decision-makers both personally and professionally. Financial literacy empowers individuals to take control of their well-being, plan for the future, and confidently navigate challenges.
They are also more likely to understand how their activities lasting results the company and their professional position. So it’s a win-win.
As an employer, you can choose to play a pivotal role in promoting this knowledge. It is a bit of an investment, but once all the elements are in place, you’ll have a well-designed educational process that almost runs itself.
When you give quality educational resources, you invest in employee loyalty, job satisfaction, and morale across the board. This may lead to a word-of-mouth campaign that will lift your company’s reputation, which may result in more top talent seeking your employment.
Obstacles in Explaining Complex Financial Topics
Without proper financial education, many employees struggle to understand financial topics such as reading pay stubs, deciphering tax deductions, and recognizing and naming truly advantageous financial products.
Plus, not everyone has the time and patience to do the research, break down complex terminology, or seek out professional advice (in this case, it’s also an extra expense that many can’t afford).
Some employees may hesitate to ask questions for fear of appearing uninformed or uneducated. This may not seem logical, but humans are emotional beings first, and the fear of being shamed (even if unfounded) is a powerful motivator.
Knowing all these, it’s clear that the employer has to come up with a solution for everyone. You are in a position of power, which makes it smoother to spread information and convince your employees to be more invested in their own financial education.
The Possible within Explainer Videos
Explainer videos are short, appropriate visual tools you can use to break down complex topics like financial terminology.
For instance, you can put together an entire video on pay stubs. With the help of a pay stub maker, you can walk employees through each section – from gross income to net pay – and highlight where taxes and withholdings go.
To make it smoother to understand, you can use many elements, such as:
- Animations: Simplify abstract ideas and processes.
- Infographics: Present data and statistics visually.
- Analogies and Metaphors: Relate complex topics to familiar concepts.
- Video marketing: Engage viewers with relatable stories.
- Interactive Elements: Quizzes or scenarios to back up learning.
Whichever elements you choose to use, ensure your videos have clear and concise language, appropriate visuals, and relatable findings. It also helps showing applicable implementations of the concepts in daily life.
Continuing with the pay stub category-defining resource, help your employees understand why this information is important. Offer practical findings where these documents matter, such as when filing income tax returns or employing them as proof of income for securing loans or credit.
How to Make Convincing Explainer Videos
Creating an effective explainer video starts with deciding between two approaches: doing it yourself or hiring professionals.
Using AI tools and your expertise can be cost-effective. Today’s smart tools allow you to design simple videos with templates, animations, and voiceovers. It’s a great option if you’re on a tight budget or want full control over the message. However, this method may require time investment and technical know-how, potentially limiting production quality.
If you choose to work with professional designers (and have the budget for it), it will be faster to produce professional-looking videos that make complex topics look easy. To take things one step to make matters more complex, hire a financial consultant to help with the explanations.
Wrap Up
Focus on financial literacy to support your employees and invest in their growth! In the long term, this is an start with a focus on your business. Empowered teams are less stressed, more productive, and deeply loyal. Start small with accessible resources or workshops to create lasting change and encourage a stronger, more strong workforce today!
