Financial Health Network’s inaugural EMERGE Workplace event took place earlier this spring to bring a diverse set of voices and expertise to the fore to help HR and business leaders understand the wide range of issues companies are facing in 2021.
Emergency savings benefits have been one of the most touted employer benefits to come out of the pandemic, with companies like UPS pioneering emergency savings efforts as part of BlackRock’s Emergency Savings Initiative.
Brian Gilmore, a senior director at Commonwealth, explained some of the tactical approaches employers can take, including working with recordkeepers, to create emergency savings programs. Naim Kabir, software engineer and applied scientist at Even, provided insight on active choice messaging for savings in the app onboarding experience from the company’s research with the Financial Health Network.
The full recording from April’s 2021 EMERGE Workplace sessions is available here.
BlackRock’s Emergency Savings Initiative
BlackRock announced a $50 million commitment to help millions of people living on low to moderate incomes gain access to and increase usage of proven savings strategies and tools – ultimately helping them establish an important safety net. The size and scale of the savings problem requires the knowledge and expertise of established industry experts that are recognized leaders in savings research and interventions on an individual and corporate level. Led by its Social Impact team, BlackRock is partnering with innovative industry experts Common Cents Lab, Commonwealth, and the Financial Health Network to give the initiative a comprehensive and multilayered approach to address the savings crisis. Partners including UPS, Mastercard, MX, and Self Financial have joined BlackRock’s Emergency Savings Initiative to help their employees and customers take the essential first step toward long-term financial well-being.