When a Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy

Close

• AFN is glad to provide you the latest in funding strategies and best practices, and at no charge. In exchange, we need to know who you are! It helps us immensely as we gauge the need and interest in what we provide.
• What type of organization do you represent?*
  • Funders and Financial Institutions
  • Federal Reserve
  • Philanthropy Support Organizations
  • Practitioners (including Non-Profit Governmental Units)
  • Advocates (policy)
  • Public Officials (appointed and elected)
  • Researchers
  • Consultants
• My Name:*
  First Last
• My Organization is:*
• City & State:*
  City State / Province / Region
• May we?
  • Yes, please add me to your email list - I'll receive a monthly news & events email digest, including a first look at AFN funder strategy briefs (unsubscribe at any time)
  • Yes, you can contact me in 30 days to see if this research was useful to me
• Email address

NEW BRIEF: When a Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy

Webinar: Watch the Recording

Webinar: Slides (PDF)

Read: Not Only Unequal Paychecks: Occupational Segregation, Benefits, and the Racial Wealth Gap

Signs of financial stress among US workers are all around us:

• Nearly half of employees lack emergency savings, and find it difficult to cover their expenses and pay their bills.
• More than 50% of employees say they are somewhat or very stressed about their finances.
• One third of employees say they are less productive at work because of their financial stress.

This report, When A Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy, sheds light on the role employers and philanthropy can play in best promoting financial well-being for workers through the offering of Employee Financial Wellness Programs (EFWPs). Data suggests that EFWPs improve employees financial stability and help create a more productive work enviroment.

There is real opportunity for Philanthropy to partner with employers and offer financial coaching and small-dollar credit products to help address the challenges that cause financial stress amongst employees. EFWPs open the door for philanthropy to impact financial security in a potentially scalable way, especially among economically vulnerable workers and their families.

Learn:

• The most promising features and challenges of Employee Financial Wellness Programs (EFWPs);
• What we need to know about the opportunity of EFWPs to address financial security for employees;
• The role of philanthropy in promoting EFWPs.

Webinar

Now available: webinar recording from September 26, 2019 AFN’s presentation of When A Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy, with report author Mathieu Despard, MSW, Ph.D, Faculty Director, Social Policy Institute at Washington University in St. Louis, Marissa Guananja, Program Officer for Family Economic Security at the W.K. Kellogg Foundation, Kim Ostrowski, Vice President, Corporate Giving, Prudential, and moderator Jeanique Riche-Druses, Vice President, Relationship Manager Global Philanthropy, JPMorgan Chase & Co.