Commitment to Action

Financial Stability for Low- and Moderate-Income Employees

Commitment by

Ideas42

In 2012, ideas42 committed to form an innovative partnership with a financial service provider and a large and reputable employer of low- and moderate-income workers to run a randomized control test of the Employee Financial Stability Package product over a nine month period. This cutting-edge pilot program is designed based on insights from behavioral research to help employees better plan their finances and regulate their financial self-control. The program will help the financial provider build a stronger, more profitable relationship with its new customers while also increasing employee productivity, retention, and reliability. After analyzing results from the pilot test, and assuming successful business case results, ideas42 will work to scale the product by recruiting additional employers to deploy the product based on the benefits to both them and their employees. The pilot product will target approximately 1,000 participants, and if successful, it can be scaled widely.

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Overview
Summary

Commitment

Financial Stability for Low- and Moderate-Income Employees

Launched

2012

Est. Duration

4 years

Estimated Total Value

$400,000

Region

Northern America

Countries

United States

Commitment by

Ideas42

Partner(s) of the Commitment Maker(s)

Stellar Restaurant Solutions, America's Family