Empowering Blue-Collar Workers: Workplace Solutions for Financial Inclusion | Good Business Lab

Blue-collar workers often lack access to formal financial products such as savings, credit, and insurance, as well as essential financial literacy and management skills. This reliance on informal credit and savings leaves them vulnerable to economic shocks, with women workers facing even greater risks due to their higher reliance on cash and lack of financial literacy and planning. Workplaces can play a transformative role by offering safe and formal financial services, helping low-income workers improve their financial security, and in turn, employers can benefit from improved productivity and retention of the workforce. This session will explore a few workplace interventions and delve into experimental evidence from Good Business Lab (GBL) that suggests employer-provided services can reduce financial stress and improve financial resilience for workers while creating a business case for scalable solutions.

More on Projects described:
Mapping Women Workers’ Financial Decision-making using Worker Financial Diaries: https://goodbusinesslab.org/project/m...

Improving Low Income Workers’ Financial Wellbeing through Formal Savings: https://goodbusinesslab.org/project/i...