SHRM & American Institute of CPAs to sponsor new national awards program on workplace financial education.

SHRM has joined with the American Institute of CPAs (AICPA) to sponsor the first annual Workplace Leaders in Financial Education Awards.

The awards will recognize employers for efforts they’re making to help employees make sound financial decisions and improve their personal financial well-being.

The concept of this award was initiated by the Workplace Subcommittee of the President’s Advisory Council on Financial Literacy.

Teaching financial literacy is a workplace imperative. Employers have a vested interest in having financially capable employees. Workers who are confused or stressed about money often spend a significant amount of work time on personal financial problems. In addition, they tend to have more work-related accidents and health problems. By investing in financial literacy programs, organizations can reduce turnover, limit money-related distractions, and increase employee engagement and loyalty.

This initiative is a natural extension of the work that is already being done by AICPA and SHRM. Many of AICPA’s 370,000 members volunteer their time as part of the 360 Degrees of Financial Literacy initiative to educate Americans about managing their finances through every stage of life while many SHRM members have launched financial education programs in their workplaces.

The application period ends July 1, 2011 and winners will be announced in the fall of 2011. To see the application and for more information about the awards program, visit wlife.org.