Workplace Financial Education: Barclays is Latest Champion

by | 02/21/14 | Commentary, Insight, Uncategorized

One of the most widely discussed areas within the financial literacy industry is financial education in the workplace.  Much research has been conducted in both developed and developing countries regarding effective ways to implement financial literacy programs for employees in the workplace.  Moreover, corporations and organizations increasingly are including financial literacy in their human resources and benefits programs.

In one of the latest examples of this trend, Barclays announced a major rollout of a web-based financial education portal as a key component of its workplace benefits offerings.  The firm partnered with Benefex to build the “Money Works” financial literacy resource, which assists the company’s employees with respect to their personal financial affairs and empowers them to make better informed financial decisions.

While overall health and wellness have been a focus for employers for many years, “financial wellness” is a relatively new focal point for companies and organizations seeking to provide comprehensive benefits to employees. Moreover, as the global economic environment has been weak and volatile during the last few years, many institutions have been looking for ways to trim budgets and reduce human resource and benefit expenses for their workforces.  However, even amid those cutbacks, financial literacy programs and offerings in the workplace remain poised to continue gaining ground in the months ahead.

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