Money stress continues to impact the majority of the American workforce.  As employers struggle with the losses and costs of the COVID-19 pandemic, employees cope with a radically different work experience that legally limits contact with coworkers, leadership, and customers. 

A plethora of technology solutions are being pushed by the major financial companies in order to fill some of the void.  Programs that analyze your spending, saving, and financial safety are important, but on their own they will not move the needle.  Why? 

The Association for Talent Development (formerly the American Society for Training and Development) did a study that revealed why we can’t just rely on applications if we expect to make progress.  The study found the following probabilities of completing a goal based on the following actions: 

  • Having an idea or goal: 10% 
  • Consciously deciding that you will do it: 25% 
  • Deciding when you will do it: 40% 
  • Planning how to do it: 50% 
  • Committing to someone that you will do it: 65% 
  • Having a specific accountability appointment with someone you’ve committed to: 95% 

Education and technology are excellent tools.  But there effectiveness is blunted when they are not paired with human accountability.  While we applaud (and subscribe!) to the idea that great technology can help people make better decisions, there is no replacement for the power of the human connection to help meet goals and effect lasting change.