Capacity building of low-income workers to improve financial knowledge and behaviour
Capacity building of low-income workers to improve financial knowledge and behaviour
Increase in men and women creating budgets, reducing the risk of financial hardships
Decrease in cases of work distractions caused by financial worries or stress
In developing countries, only a small percentage of adults are financially literate, and women, rural populations, and low-income households have particularly low levels of financial literacy and inclusivity.
Financial inclusion is critical for women workers to improve their economic status, increase their financial security, and achieve greater financial independence by providing them with the tools and resources needed to access and benefit from financial services.
Improving financial literacy among factory workers promotes financial well-being, empowering individuals to make informed financial decisions, and helping them achieve financial stability.
Investing in Financial Literacy for factory and farm workers can have several benefits, both for the workers themselves and for the companies that employ them. Here are some of the key benefits:
By learning how to manage their money more effectively, low-income factory workers may be able to improve their financial stability and reduce the risk of financial hardship.
Workers gain a better understanding of personal finance, develop stronger financial skills, and feel more confident in managing their money and making smart financial decisions.
Workers can better understand financial products such as credit cards, loans, and insurance, allowing them to make more informed financial decisions.
Low-income factory workers are able to develop better money management skills, such as creating a budget, saving for emergencies and retirement, and avoiding debt.
By learning how to manage their money more effectively, low-income factory workers may be able to improve their financial stability and reduce the risk of financial hardship.
Workers gain a better understanding of personal finance, develop stronger financial skills, and feel more confident in managing their money and making smart financial decisions.
Workers can better understand financial products such as credit cards, loans, and insurance, allowing them to make more informed financial decisions.
Low-income factory workers are able to develop better money management skills, such as creating a budget, saving for emergencies and retirement, and avoiding debt.
Financial stress can lead to workplace accidents, but financial literacy training can reduce stress and improve worker focus, leading to fewer mistakes and risks.
Management’s investment in workers’ financial well-being demonstrates corporate social responsibility, improves reputation, and attracts customers/investors.
When workers are financially stable, they are less distracted by financial worries or stress. This can improve focus, and productivity, and reduce absenteeism and turnover.
Financial literacy training can help to build trust and foster a sense of loyalty among workers, leading to increased employee engagement and job satisfaction.
Financial stress can lead to workplace accidents, but financial literacy training can reduce stress and improve worker focus, leading to fewer mistakes and risks.
Management’s investment in workers’ financial well-being demonstrates corporate social responsibility, improves reputation, and attracts customers/investors.
When workers are financially stable, they are less distracted by financial worries or stress. This can improve focus, and productivity, and reduce absenteeism and turnover.
Financial literacy training can help to build trust and foster a sense of loyalty among workers, leading to increased employee engagement and job satisfaction.
Some of the topics covered in our curriculum
Goal setting – having a financial plan
Budgeting – managing your money
Banking – how does it all work?
Financial Scams
Goal Setting
Increase in women getting involved in financial decisions
Increase in women willing to open a bank account
Stories from workers
“Before the training, I was clueless about banking, saving, and borrowing. I used to keep all my earnings at home, and I never thought about saving for the future.I have learned the importance of saving and planning for the future. I have opened a savings account and have started saving regularly. The financial literacy training has also helped me to avoid unnecessary expenses, and I am more careful in my spending.
The training has not only benefited me but also my family. I have shared what I have learned with my family, and we are all on the same page when it comes to saving and spending. The training has been a game-changer for me and all my colleagues. We feel empowered and more in control of our finances.”
– Aayat, Worker, Garment factory, India
Stories from Management
” The program benefited the factory by reducing absenteeism and turnover rates. We figured that when workers are more financially stable, they are less likely to experience financial stress that can lead to absences or resignations. This helped us to maintain a stable and reliable workforce, which improved overall productivity and efficiency.
Implementing a digital payment system mitigated the potential hazards linked to cash transactions and enhanced the efficiency of salary disbursement. In addition, the workforce also favors the convenience and security provided by digital payments to receive their pay.”
-Mustaque Ali, Payroll Manager, Pakistan
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