From Bank of America

MaKeva McDaniel, director of global benefits for Blackbaud, Inc., a software provider for nonprofits, says her company “has a pretty expansive benefits offering [for its employees].” At the core, “we try to make sure we’re focused on well-being.”

As part of the ongoing effort, McDaniel along with Bank of America’s Bryan Cichon, a senior relationship manager who has served Blackbaud for 13 years, and Justin Romero, a senior engagement manager who has served it for two-and-a-half, study enrollment data and participant behavior, and brainstorm ways to improve employees’ overall financial wellness.

After noticing an increase in hardship withdrawals, the three created an engagement strategy to show employees other alternatives, such as building an emergency fund—Blackbaud employees have access to a special banking program through Bank of America—and provided financial coaching to help with budgeting and credit card debt. “Every Blackbaud employee is assigned a financial adviser,” says Romero. “The advisers and our education programs allow us to expand our lens outside of the 401(k).”

Romero, a financial wellness specialist earlier in his career, says he applies that experience when he and Cichon create participant programs. They produce quarterly educational seminars and special events specifically for Blackbaud. Since many employees work remotely, the programs are virtual but live and interactive, and allow for asking real-time questions.

“As part of the quarterly Financial Fitness curriculum, we rotate topics and target sessions based on feedback as well as insights from the participant behavior in the plan,” Cichon says. For example, they offered a series of seminars focusing on financial needs at different life stages—such as one for new parents and another for employees approaching retirement. A QR code is presented during the seminars for participants to register for a one-on-one financial wellness consultation.

Cichon, Romero and McDaniel have also created special programs for affinity groups at Blackbaud, including a seminar with the Pride group covering financial issues related to adoption, and a roundtable for women in technology. In the latter, Bank of America experts presented about special financial issues confronting women, and two employees discussed their personal experiences with money.

“What Blackbaud has asked for has not only helped Blackbaud, but we’ve applied it to other plans,” Romero says. “They’re the ideal client.”

—Kimberly Lankford