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Kroger Expands Financial Counseling Services To Employees

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Cincinnati-based The Kroger Co. has announced a new collaboration that provides financial counseling opportunities for its employees. The grocer is piloting a new program to expand its work with Goldman Sachs Ayco to support employees seeking to achieve financial goals.

“With six generations making up our workforce, we know our employees are in different places on their financial journey,” said Tim Massa, SVP and CPO. “Kroger has a strong culture of investing in our associates, from incremental wage increases and targeted professional development programs to holistic wellness training and a best-in-class educational benefit. Our work with Ayco is just one way we are creating a place where our associates can feed their future and reach their full potential.”

Salaried and hourly employees will be able to access financial coaches and supportive programming. In addition to online tools and resources, this free and confidential service will provide employees with one-on-one financial coaches who have been trained to help employees look at their total financial picture and advise on financial decisions.

Each employees can create a savings plan, learn how to avoid common financial pitfalls and explore opportunities to maximize all available company benefits. People will be able to review and track their progress toward achieving their financial goals with support from financial coaches. These coaches can counsel those who are looking to achieve a variety of goals, from buying a home and paying down debt to managing estate planning.

“Kroger is the first retailer in the nation to offer this kind of benefit to hourly workers,” said Theresa Monti, VP, total rewards. “We know financial wellness is essential to all of us. This is an important way we are improving our associate experience – empowering anyone to thrive and grow at Kroger.”

The program will be piloted in the Cincinnati/Dayton and Fry’s divisions, as well as Cincinnati-based employees in supply chain, manufacturing and offices. Employees in these divisions will be able to use the program and share their feedback, which will enhance the experience before it is available for additional employees next year.

For more inforamtion, visit kroger.com.

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