March 9, 2015
Authors
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BSR Staff
A new report examines whether the HERfinance program improved the financial knowledge and behaviors of low-income workers and whether the program’s methodology led to workplace improvements and employer benefits. Our analysis of the data collected before and after implementing HERfinance reveals that the program has had meaningful impacts in both areas. Key program impacts include:
- Participants were more than three times as likely to say they felt they could meet their families’ needs in the next two years with the same salary.
- Women were 23 percent more likely to say they decided what to do with their salaries.
- Ninety-one percent of workers said they saved a greater portion of their salary after going through the training.
- Both women and men were 38 percent more likely to save a portion of their salaries in a formal bank account.
- Ninety-seven percent of participants said their perception of their employer improved because of their support of HERfinance.
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