AGAWAM, Mass. — The statistics are alarming: 70 percent of Americans are living paycheck-to-paycheck. At work, stress over finances can take a toll on employee performance and impact productivity. Almost 10 years ago, OMG Inc. saw this as a factor limiting employee success and took action.
OMG used SmartDollar, the financial wellness program created by money expert and best-selling author Dave Ramsey, to teach employees how to take better care of themselves financially.
“This has been a game-changer for us,” said Sarah Corrigan, vice president of human resources. “More than 300 employees have taken advantage of the tools we offer for free to create a financial plan for themselves and their families.”
According to the company, helping employees succeed financially is part of OMG’s overall wellness strategy.
“Reducing the worry over money allows employees to focus on their work and, more importantly, on themselves and their future,” said Corrigan.
Using SmartDollar, the average OMG participant pays off more than $8,000 in debt and saves more than $5,000. Collectively, participants have achieved a positive swing of almost a million dollars through debt reduction and savings contributions.
SmartDollar has recognized OMG as its 2018 Company of the Year.
“Our team absolutely loved hearing about what’s happening at OMG,” said Brian Hamilton, vice president of SmartDollar. “They did it. They made the kind of behavior change it takes to change their lives and their family’s futures.”
“We’re very proud of what our employees have accomplished,” said Hubert McGovern, OMG president and CEO. “There’s nothing more satisfying for us as a business than to help our employees succeed not only professionally, but personally as well.”