Money Matters: P&G Empowers Employees to Improve Their Financial Wellbeing

10/1/2024

Are you a saver or a spender?

Did anyone ever teach you how to manage your money? Do you know where to turn when you have a question? How people view their finances is often shaped by what they learn, or don't learn, in childhood.

Some P&G employees say the educational resources P&G provides have empowered them to gain confidence on their financial wellbeing journeys. More important, they've been able to reach some meaningful goals.

Saving for a First Home

Ten months ago, Charlotte Hudson, who works in Human Resources in Northern Europe, and her partner bought their first home together.

It's a dream they saved for years to achieve. But saving money was not something Hudson learned growing up. It's a skill she developed with the help of the financial wellbeing resources at P&G.

At 18, Hudson moved to London to go to university. "I think that was the first moment I realized maybe I didn't know enough about how to manage my own finances as a young adult," she said.

When Hudson joined P&G, she learned about the resources available to her as part of her benefits package. "It was really fascinating to me because it was this one-stop place that had all the information that I could possibly want to know about money matters," she said.

Hudson used a financial health check tool to tailor the resources to her interests and needs.

That's the process that helped Hudson save for her first home.

"We know that every single employee is going to go through life-changing events while they're with us that have nothing to do with work," said Sameh Magdy, Senior Vice President of Human Resources for Global Talent Rewards, Employee, Labor Relations and Corporate Services. That's one of the reasons P&G takes a holistic approach to supporting employees.

Hudson is grateful to work for a company that cares about its employees. "I think it's really refreshing that the Company has noticed that if you don't feel good about your financial wellbeing, then you're probably not going to feel good when you come into work," she said.

She loves that she had access to a quick, easy source she could trust. "Five minutes with a cup of tea on your break and you can make yourself feel so much better about a topic that maybe you felt a little bit overwhelmed about," Hudson said.

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Turning a Saving Mindset into Smart Growth

Alyssa Appleby, a Process Engineer in the United States, was never the type of person to spend money on a vacation.

"My relationship with money growing up was kind of like, 'Save it, hoard it,'" she said. But today, Appleby is not only putting her savings to work for her, she is also finding ways to spend a little, too.

Appleby began working at P&G out of college. While her savings account was steadily growing, her lack of financial literacy made her feel insecure about her financial stability. She wondered, "How could I put this to better use? Am I saving it the right way?"

She turned to a financial education service P&G offers to U.S. employees. "It was hassle-free. I just talked with my advisor about my current situation and what I wanted to get out of the meetings, and then he created a road map for me," she said. Appleby met regularly with her advisor, who helped her set goals and determine the types of accounts that would meet her needs.

"It's definitely been helpful to grow my financial stability to help reduce my stress, at work and at home," said Appleby.

Magdy believes when employees feel supported by their company, it benefits everyone. "A company can only deliver the best results if our people are at their best and work as a team," he said. "Can you imagine preparing for the Super Bowl with a team that's tired, under mental pressure or has trust issues with their coach? No team can operate well with that dynamic."

Empowering Appleby with the financial resources that help her be at her best is just one of the ways P&G is showing employees they are valued and rewarded.

Now, Appleby has a travel fund. "I'll be going on my third vacation this year. But it doesn't give me any anxiety because I know that money is saved specifically for this," she said.