Measuring Financial Literacy: Global HR Consulting Powerhouse Aon Hewitt Says “Measurement” is Key to National Financial Literacy Strategies

The financial literacy industry is humming over news that Aon Hewitt is not only voicing its strong support for national financial literacy strategies, but also underscoring the importance of effective measurement techniques in ensuring the success of financial education initiatives on the local, national and international levels.

In one of its latest public signs of support for broad financial education strategies, Aon Hewitt announced its backing of the proposed blueprint issued by the Financial Consumer Agency of Canada for the advancement of financial literacy among Canadian seniors. In addition to the company’s support of the Blueprint’s access to information and objectivity of information, Aon Hewitt made clear that it believes the ongoing monitoring and measurement of the initiative will be exceedingly essential to its success. Specifically, the company asserted that the program needs to be measured by assessing in detail its impact on the level of understanding and behaviors of seniors who are touched by the initiative.

Aon Hewitt’s major focus is on human resources and talent management consulting services and, with more than 30,000 professionals in 90 countries serving over 20,000 clients globally, the company has been at the forefront of financial education developments in both developed and developing nations. One important reason for this is Aon Hewitt’s concentration on helping companies attain greater levels of financial security for their employees through the design and implementation of financial education programs in the workplace.

While the topic of “measurement” is nothing new for the financial education industry, financial literacy professionals and other key stakeholders continue to research and analyze the most effective means of measuring the success of financial education programs. As measurement becomes an even greater focus among corporations, such as Aon Hewitt, as well as researchers, educators, government agencies, and NGOs, we should expect the success of financial literacy efforts to be taken to new heights in the coming years.