WiseWage is seeking partners who share a common motivation to improve the financial health of workers.
We are calling on partners to join us in moving workers from the financial sidelines to the ranks of workers with FDIC-insured bank accounts.
Collaborators could include entities from many different avenues:
· Trade associations
· Municipal governments
· Community service groups and non-profits
· Fintech providers
· Staffing agencies
23 million Americans, living in 9 million households, are unbanked. Moreover, another 67.4 million Americans, living across 24.5 million US households, were underbanked.
The 2017 PwC Employee Financial Wellness Survey found that 53 percent of workers feel stressed about their financial situation. Forty-six percent said that their economic challenges were the most significant source of stress in their lives.
When workers have financial stress, those challenges create problems in the workplace.
· Financially-stressed employees are more likely to say their compensation is not adequate.
· They are less likely to recommend their employer as a great place to work.
· Workers without bank accounts are often less productive: One in three unbanked workers report that he or she has missed work because of a financial problem.
· Almost half of all financially-stressed workers spend 3 or more hours at work each week dealing with their finances.