FINANCIAL WELLNESS
POWERSPORTS VEHICLE COMPANY POLARIS HAD LONG OFFERED EMPLOYEES COMPETITIVE SALARIES, A 401(K)-MATCH PROGRAM AND A STAKE IN THE COMPANY. However, two years ago, the company took a holistic look at its programs and found that it could do even more to provide employees with tools and resources to support their financial well-being. Polaris then made a profound commitment to its employees and harnessed the drive, in- genuity, and pioneering spirit it's renowned for to implement a comprehensive financial wellness program that acknowledges that economic well-being is an integral part of overall health. Just as Polaris founders Edgar Het - teen, his brother Allen, and close friend, David Johnson, developed their first vehicle in 1954 as a solution to get through the deep Minnesota snow, company lead - ers 70 years later innovated a way to give the same energy and value their employees provide right back to them. Polaris pro- vided valuable opportunities for the employees to expand their knowledge about the retirement planning process while lever - aging the benefits of the 401(k) plan, ESOP, and HSA. Through
the lens of its “think outside the box” philosophy, the company empowered employees to make informed financial decisions that align with their individual cir - cumstances and the well-being of their loved ones. Polaris enlisted the help of Com - pass Financial Partners, a Marsh & McLennan Agency LLC (MMA) com- pany to develop its new financial wellness program. To kick off this transformation, Nikky Reilly, senior manager of healthcare, retirement, and stock plans at Polaris, and her team rolled out a series of financial information sessions for employees on relevant topics such as inflation, retirement, and social security. They also offered one-on-one ses- sions with MMA financial experts to discuss employees’ unique goals and challenges. In turn, Polaris garnered valuable insight into employees’ concerns and areas where they could use additional resources, and was able to adjust its offerings accordingly. “With COVID-19, we found that employees were facing a lot of financial stress, so we wanted to create a program that was unique to their own financial concerns and goals,” Reilly says. “We put together a completely new set of financial wellness offerings and
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