lddev request The Federal Reserve estimates that nearly half of American families cannot pay for an unexpected $400 expense without borrowing or selling something. Small shocks derail financially fragile households; Pew finds that 60% of households experience at least one shock annually that causes sustained material hardship. Further, financial strain among workers exacts enormous costs on businesses through lower productivity and worker retention -- the Center for Financial Services Innovation estimates the bottom line cost to the employer at $7,000 per worker per year. We hypothesize that small cash transfers, delivered in the right way, at the right time, can drive positive changes -- for both workers and employers -- that far outweigh their upfront costs.
Years: Any
Location: Anywhere
Requested on: 2022-05-06
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