There's growing recognition of the need for employers to support the financial wellbeing of their employees beyond traditional benefits like 401(k) matches. That need has prompted Southeast Building Supply Interests (SBSI) to launch a new program providing access to financial support and education to its 300-person workforce.
SBSI, which spans 11 locations in five states, began in April to offer HoneyBee’s financial wellness platform. SBSI now offers all of its team members with (1) access to interest-free loans to manage unplanned expenses and to pay off debt; (2) unlimited and confidential one-on-one financial coaching for all money matters; and (3) financial education workshops and a knowledge library for all employees and their families.
“Being a people-focused company means seeing everyone on our team as a person first and as an employee second,” said Roger Farmer, CEO of SBSI. “I’m very excited about the opportunities this financial wellness program is providing to each person on the SBSI team, and what it will mean for their futures and for their families”.
SBSI is backed by Building Industry Partners (BIP), the leading private equity firm focused on the U.S. building industry.
“Not only is this a tremendous service to our team members, but it is also a cost-effective benefit program that has been proven elsewhere to support employee attraction and retention," said SBSI's HR Director, Cierra Calvacca. "I’m proud to have rolled out this program and to see the difference it is making, and I’m confident it will differentiate us as an employer of choice."
Editor's Note: BIP's Managing Partner, Matt Ogden, has invested in Webb Analytics.