Here a summary of why I think a comprehensive financial planning session is FINANCIALLY justified by a company.

Very few of large employers are offering broad financial education that includes emphasis on personal budgeting and credit management (Fee-based education should be favored, let the employee realize that there is no free lunch – lesson number One). A matrix of comprehensive financial education should be made available to guide employers that can help workers make informed decisions in four areas vital to personal financial wellness:

1. Employer-sponsored retirement plans – including plans like NPS.

Why? To increase participation in and contributions to retirement plans.

Why? To retain senior employees (say above 45) so that they look forward to the retirement, health plans for people who have put in say 15 years service. An awesome retention tool for sure.
2. Other employer-furnished fringe benefits

Why? To encourage workers to make satisfactory choices for their needs on health, auto, and life insurance, as well as long-term disability, and pre-tax medical spending and dependent care accounts and to find money to fund their retirement plans.

Why? So that if the employees know how collective bargaining can work, they could go to one builder and buy say 30 houses – can you imagine how brilliantly it works in terms of collective bargaining?

3. Credit and money management

Why? To encourage workers to make personal assessments about money management and the use of consumer credit and to find money to fund their retirement plans.

Why? Companies can go through hell if there are employees who are defaulting on loans, credit cards, etc. You do not want CIBIL to release some kind of a report saying ‘Kapila Consultants’ has the highest number of defaulters. Oops, that can hurt.
4. Consumer protection rights
Why? To empower workers to understand how to use consumer protective laws and regulations to get out of difficult financial situations and avoid them in the future and to find money to fund their retirement plans.

Why? A well informed employee is likely to be less plagued by financial mistakes – and thus will be able to concentrate on the job at hand.