Case Study
Financial Stress and Employee Retention
Intro
The Beans partners with the National Head Start Association to provide Head Start sites nationwide with access to The Beans’ evidence-based content, tools, and support. Available on The Academy, Financial Wellness Essentials is designed for Head Start sites of all sizes. A New York site, the Regional Economic Community Action Program, Inc. began working with The Beans in 2022 after searching for a solution to their employee retention challenges.
Challenge
Educators are facing more stress now than ever. 41 percent of teachers said they feel like they’re less effective at their jobs when they’re stressed. Research shows that when teachers are stressed out, the quality of their instruction, classroom management, and relationships with students all suffer. Students tend to be more stressed when their teachers are, which could negatively affect their academic performance and engagement.
Americans rate financial stress as the number one, most persistent form of stress in their lives with teachers experiencing this stress at higher levels. This stress translates to negative impacts on physical and mental health and leads to many educators leaving the industry creating retention challenges for employers.
Approach
What makes The Beans unique from other employee benefits and retention tools is the careful consideration of the audience–education, healthcare, nonprofit, and public professionals who choose careers of mission over money–and evidence-based recommendations that align behavior with intentions. The Beans’ Financial Wellness Essentials program nurtures the pursuit of financial goals and promotes positive financial behaviors. This evidence-based approach has been found to be a key contributor to staff retention.
