Hallie Lienhardt and Sara Nowakowski, Asset Funders Network
First published September 2018
The following report presents four nonprofit organizations implementing workplace-based financial coaching models: $tand by Me located in Delaware, Working Credit NFP in Illinois, Neighborhood Trust in New York, and WorkLife Partnership in Colorado.
Though differing in size, age, program structure, or scope, the organizations included in the case study provide a variety of insights into key considerations and challenges in implementing financial coaching in workplace settings:
- Close collaboration with the employer, particularly with senior management, is critical to help organizations understand the employer’s business model and tailor the program to align with each unique operational environment.
- Flexibility and compromise are equally important in the design and implementation processes as workplace settings present unique barriers not found in more traditional models of financial coaching in social service settings.
- Web-based platforms or other forms of technology helped many organizations increase the accessibility of financial coaching services to reach more employees and achieve greater economies of scale.