Publications
Publications
- May 14, 2024
- Harvard Business Review (website)
One Way to Help Employees Build Emergency Savings
By: Timothy Flacke and Peter Tufano
Abstract
Intentional cooperation between two organizations — BlackRock, a major asset management firm, and national non-profit, Commonwealth — created the conditions for the nation’s largest payroll processor, multiple U.S. employers, retirement record keepers, and others to work together to help address systemic U.S. household financial insecurity through a workplace-based savings plans. This was not the typical retirement-savings programs, but rather an emergency-savings programs, designed to reduce the financial fragility that often affects those living on low to moderate or volatile incomes with little ability to cope with a financial emergency.
Keywords
Saving; Personal Finance; Income; Nonprofit Organizations; Corporate Social Responsibility and Impact; Partners and Partnerships
Citation
Flacke, Timothy, and Peter Tufano. "One Way to Help Employees Build Emergency Savings." Harvard Business Review (website) (May 14, 2024).