Commonwealth’s work with employers to build and scale financial security and wealth building solutions often centers on the companies’ existing platforms and infrastructure. For traditional employees, we partner with retirement plan recordkeepers, payroll firms, and workplace fintechs and financial service providers (finservs). For non-traditional workers, we partner with gig platforms and other providers addressing the needs of a changing workforce. These entities play a critical role in ensuring widespread implementation and adoption of emergency savings and other tools and innovations advancing financial security for millions of low- to moderate-income (LMI) workers.

In 2019, 41% of households headed by a person aged 35 to 64 were projected to run out of money during retirement.”

EBRI

Worker financial security is increasingly a priority for employers. A more financially secure workforce benefits not only individuals, but also the business as a whole. Lost productivity due to employee financial stress costs US companies $250 billion a year.  

Employers are increasingly looking to their workplace solution providers—payroll, retirement recordkeepers, fintech/finserv serving employers—to provide emergency savings and other financial security innovations. When a recordkeeper, payroll provider, or fintech/finserv offers financial security solutions to their customers, they address a major implementation hurdle for employers and provide access to savings tools and other innovations for tens of millions of workers. In addition, gig platforms and other providers serving non-traditional workers are developing new solutions to extend financial support directly to this growing workforce. 

Our partners leverage Commonwealth’s quantitative and qualitative consumer research on LMI workers to address the unique needs of this underserved population with their solutions. We collaborate with workplace solution providers to advance worker financial security and opportunity by conducting research and piloting and scaling workplace savings and wealth building innovations.

Partner With Us

Are you an innovative workplace solutions provider seeking to improve financial security and opportunity for your customers’ workforce? Contact us to explore opportunities to partner with us.

Lost productivity due to employee financial stress costs US companies $250 billion a year.”

Mercer