Foot Locker and iGrad, a San Diego-based financial education company, have joined forces to provide the Enrich™ financial wellness platform to 50,000 employees worldwide. This innovative program is personalized to each user and customized to reflect cross-cultural differences in financial education, making it accessible to Foot Locker employees in countries including the U.S., Canada, Denmark, Spain, Belgium, Japan, Korea, United Kingdom, and Australia.
Enrich stands out as one of the few financial wellness programs offering a global product that allows multinational employers to implement a consistent, highly personalized financial wellness solution for employees in different countries. The platform features the Your Money Personality™ financial behavior assessment, which provides insight into the user’s financial habits. Additionally, Enrich offers financial education courses, personalized action plans, localized articles, interactive tools, and analyzers designed to help users improve their financial literacy and mitigate financial stress.
In a global context where only a small percentage of people feel financially prepared to deal with unexpected expenses and have a limited understanding of financial concepts, Enrich comes as a game-changer. By using interactive, creative, and personalized approaches, the program aims to increase engagement, foster positive behavior changes, and reduce employee financial stress.
The effectiveness of Enrich was demonstrated through comprehensive data analysis from January 2020 to December 2021. The results revealed significant increases in financial wellness among users, including higher percentages of users reporting that they are on track with saving for their goals, contributing to their retirement savings plan, building emergency savings, and paying off credit card debt in full monthly.
These findings are especially relevant in light of the impact of using the Enrich platform on reducing financial stress. Users reported a substantial decrease in financial stress, with nearly 36 percent attributing this improvement to the Enrich platform.
iGrad, the company behind the Enrich platform, has been recognized for its excellence in financial literacy education, receiving the 2023 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Organization of the Year Award. iGrad also received the 2022 Eddy Award for Financial Wellness for its Enrich platform, solidifying its position as a leading provider of financial wellness solutions.
Overall, the Enrich financial wellness platform has proven to be an effective and impactful tool in promoting financial literacy and reducing financial stress for employees around the globe. With its commitment to providing tailored, comprehensive financial education, iGrad and Foot Locker have made a significant contribution to empowering workers to achieve financial well-being.
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