Kroger Expands Personalized Financial Counseling Services to More Associates
The Kroger Co. (NYSE: KR) announced a collaboration with Goldman Sachs Ayco to provide financial counseling services to its associates. This program, piloted in Cincinnati/Dayton and Fry's divisions, offers free and confidential access to financial coaches. Associates can work on savings plans, avoid financial pitfalls, and maximize company benefits. This initiative positions Kroger as the first U.S. retailer to provide such support to hourly workers, enhancing the associate experience and promoting financial wellness.
- Launch of free financial counseling program for associates.
- First retailer in the U.S. to provide financial counseling benefits to hourly workers.
- Enhances associate experience and promotes financial wellness.
- None.
Service provides free, confidential financial planning
CINCINNATI, Sept. 15, 2022 /PRNewswire/ -- The Kroger Co. (NYSE: KR) announced today a new collaboration that provides financial counseling opportunities for its associates. America's largest grocer is piloting a new program to expand its work with Goldman Sachs Ayco to support associates seeking to achieve their financial goals.
"With six generations making up our workforce, we know our associates are in different places on their financial journey," said Tim Massa, Senior Vice President and Chief People Officer at Kroger. "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 associates will be able to access financial coaches and supportive programming. In addition to online tools and resources, this free and confidential service will provide associates with one-on-one financial coaches who have been trained to help associates look at their total financial picture and advise on financial decisions.
Each associate can create a savings plan, learn how to avoid common financial pitfalls and explore opportunities to maximize all available company benefits. Associates will be able to review and track their progress toward achieving their financial goals with support from trained financial coaches. These coaches can counsel associates 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, Vice President, Total Rewards at Kroger. "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 with associates in the Cincinnati/Dayton and Fry's divisions as well as Cincinnati-based associates in Supply Chain, Manufacturing and offices. Associates 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 associates next year.
Learn more about pursuing a career at Kroger here.
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: To Feed the Human Spirit™. We are, across our family of companies nearly half a million associates who serve over 11 million customers daily through a seamless digital shopping experience and retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.
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SOURCE The Kroger Co.
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