Timothy Flacke

Successful employee recognition and total rewards programs address and support employees as whole individuals and acknowledge the impact that financial stress may have on their professional lives. With 78% of financially stressed employees reporting negative effects on job performance – resulting in increased absenteeism, turnover, and reduced productivity – businesses face up to $183 billion in annual costs. The solution? Understanding that financial health is an integral part of employee well-being and implementing workplace solutions that create pathways to financial stability for all.

In this session, Timothy Flacke, Co-Founder and CEO of Commonwealth, and Jennie Sparandara, Managing Director and Head of Programs for Corporate Responsibility at JPMorgan Chase, will highlight the critical role workplace benefits play in fostering financial resilience. They will present compelling research demonstrating how these benefits are especially impactful for low-to-moderate-income populations and the holistic efforts JP Morgan Chase is taking to improve these outcomes – both within the firm and with employers across the country – such as leveraging its own business practices, insights, and philanthropic capital to address wealth gaps and enhance employee financial wellbeing.

Key takeaways include:

• How debt reduction, workplace savings and other wealth-building solutions can be implemented to support employee recognition and financial well-being 
• How leveraging workplace financial health provisions in the SECURE 2.0 Act can support workforce productivity and retention 
• What action steps are available to address employees’ financial needs