Supporting Your Employees Through Financial Coaching: A Smart Investment for Small Business Owners

Running a small business requires constant problem-solving, smart budgeting, and managing a workforce with limited resources. But one growing problem affecting both your bottom line and your team’s performance is often overlooked: employee financial stress. In today’s uncertain economic climate, many employees are bringing their financial worries to work — and it’s impacting your business more than you might realize.

As a small business owner, you may feel stretched thin already. But investing in your team’s financial well-being doesn’t have to be complicated or expensive. Through financial coaching services tailored to small businesses, you can reduce employee stress, increase retention, and build a healthier, more productive workforce.

In this guide, we’ll explore the concept of offering financial coaching to your employees — and why it’s a powerful decision for small business success.

1. Understanding the Hidden Cost of Financial Stress

Recent studies show that over 60% of employees experience financial stress, and it often shows up at work. Employees may be distracted, tired, anxious, or even looking for another job that offers higher pay — not necessarily because they want to leave, but because they feel financially desperate.

For small businesses, this can translate into:

• Increased absenteeism: Employees miss more days because of stress-related illness or personal emergencies.

• Lower productivity: Financial distractions reduce employees’ focus and performance.

• Higher turnover: Financially-stressed employees may look for work elsewhere, even if they’re otherwise happy working for you.

It’s estimated that financial stress can cost employers $4,000 or more per employee per year in lost productivity, absenteeism, and turnover.

2. Why Small Businesses Need to Act Now

Larger companies with bigger budgets have started addressing this issue by offering financial wellness benefits — but many small business owners don’t see how they can do the same.

That’s where a financial coach comes in. Partnering with a financial coach allows you to provide professional, confidential support to your team without the overhead of building a full HR benefits department or incurring the cost of a national-brand company that charges for more services than you need. 

And the best part: Hiring a financial coach is scalable, flexible, and cost-effective.

By providing access to coaching, you can:

• Support your employees in managing debt, budgeting, and planning for the future

• Strengthen your culture of empathy and retention

• Increase loyalty and reduce job-hopping

Employees don’t need a raise to feel financially empowered. They need a plan to manage the dollars they already have: A good coach will provide that.

3. What Financial Coaching Looks Like for Small Businesses

Financial coaching services are highly adaptable. Depending upon your business size and budget, you can offer:

A. One-on-One Coaching

• Employees (and their spouses/partners) meet privately with a coach for customized support

• They focus on budgeting, debt management, saving, credit repair, and planning

• Sessions can be in person or virtual

B. Group Workshops

• This budget-friendly option helps multiple employees at once

• Topics can include building an emergency fund, managing credit, planning for major purchases, budgeting, financial mindset, communication with a spouse/partner

• Workshops are interactive and designed to meet employees where they are

C. On-Demand Resources

• Self-paced tools like videos, workbooks, and templates are available

• Coaches provide affordable, evergreen education to support ongoing financial growth

4. Business Benefits of Financial Coaching

Let’s take a closer look at how investing in financial coaching creates a positive return for your small business:

a. Reduced Turnover: Employees who feel supported are more likely to stay. Coaching helps reduce financial anxiety, which lowers the urge to find a higher-paying job elsewhere.

b. Improved Productivity: Financial stress adversely affects mental bandwidth. Employees who feel financially secure can focus better and accomplish more on the job.

c. Increased Morale and Enriched Culture: When employees see their employer investing in their well-being, it builds trust, loyalty, and a positive workplace environment.

d. Fewer Absences: With improved money management skills, employees are less likely to be derailed by car repairs, overdue bills, stress-induced health issues, or marital trouble.

e. Competitive Advantage: Offering financial coaching as a benefit helps you stand out in a tight labor market — even if you can’t compete on salary alone.

5. Objections and Concerns

You might be thinking:

• "We’re too small for something like this."

• "We can’t afford extra benefits."

• "Our employees wouldn’t be interested."

• “Our employees don’t want us to know their financial details, and we don’t want to, either!”

Here’s the truth:

• Financial coaching can scale for any team size — even single digits.

• It’s much more affordable than hiring or replacing staff.

• Most employees are silently struggling with money, and confidential support can be a huge relief.

• As the business owner, HR person, or anyone on staff, you won’t know anything except the name of the person who is seeing the coach (if you want to know that much). The coach will keep everything confidential.

6. How It Works – Simple, Turnkey Implementation

Working with a financial coach should be simple. Here’s what the process typically looks like:

1. Initial Consultation: We meet with you (virtually or in person) to understand your team’s needs and your goals.

2. Customized Plan: You choose from a menu of services — 1:1 sessions, workshops, and/or resources — and decide what fits your culture and budget.

3. Launch and Promote: We provide everything you need to roll it out — email templates, flyers, FAQs — to get employees engaged.

4. Ongoing Support: Coaching continues on a monthly or quarterly basis, and you receive simple reports (no personal data) to track engagement and satisfaction.

7. Real Impact — Real Stories

The owner of a small business was so concerned about the physical and mental health of one of his employees that he asked us to work with the man and his wife at the business owner’s expense. Within a few months, we got the family up-to-date on their mortgage, utilities, and car payments. The employee’s mental and physical health improved dramatically, and he eventually took on additional responsibility in the company.

One small business owner gave his entire company and their spouses individual  financial coaching for their year-end bonus. I’m still hearing amazing stories of how their lives changed for the better. 

8. Getting Started: What You Can Do Today

Here’s how you can take the next step:

✅ Schedule a 15-minute consultation to explore what’s possible
✅ Choose a package that fits your team and budget
✅ Roll out a program that supports your employees and strengthens your business

Financial wellness doesn’t have to be complicated or expensive — it just has to be offered.

A Small Investment with Big Returns

As a small business owner, you want to do right by your team — but you also need to protect your bottom line. Financial coaching offers a rare win-win: it helps your employees feel–and become– more secure and empowered while giving your business a stronger, more focused workforce.

If you're ready to create a workplace where your team thrives — and your business grows with them — financial coaching is one of the smartest moves you can make.

Let’s make it happen.

Schedule your free consultation today. squareup.com/appointments/book/107cb5p0uprthr/L8QPGAYCX4HF9/start

Susan P. Livermore|717.495.3578 |susan@morelifemoneycoach.com