Put more money in your teams’ wallets without giving everyone raises.
We love our people and see value in financially rewarding them for their talent, hard work and energy whenever we can. However, being a startup or a smaller company, like wisnet (investing in app product development), can make significant merit increases difficult. Sure, we invest in our teams’ future through their retirement saving plans with a 3% match – which 100% of our team meets or exceeds. And, while we strive to put as much of our profits back into our team members’ hands with regular bonuses, it’s SUPER important for us to support the financial wellbeing of our people even more when and where we can.
What else could there be?!?
In 2015, we introduced the Dave Ramsey “Smart Dollar” program to our team. Smart Dollar provides a step-by-step approach to better handling one’s money with a buildup series of videos and resources covering the range of how to get out of debt, on a budget, and on your way to a smarter financial future. 100% of our team members finished … and you bet a $$ incentive to finish helped, but the end results continue to put MORE money into the wallets, bank accounts, and future of our team members.
Here’s what we’re seeing:
*Data shared is from 7 of our team members who have completed the SmartDollar program anywhere between 2015 and now.
Here’s some of what we heard:
- Great program – easy steps!
- Helped accelerate my student loan payments.
- Increased retirement savings – I’m doing more monthly IRA contributing vs. end of the tax year.
- Makes me think differently about all purchases!!
- Paid for last car with cash – no monthly payments.