WorkLife Partnership Granted Major Support from Bill & Melinda Gates Foundation to Support Prosperity through Work
DENVER, Nov. 21, 2019 /PRNewswire/ -- A 10-year project to transform the benefits market for frontline workers received a major boost with a $1.1MM grant from the Bill & Melinda Gates Foundation. WorkLife Partnership is a social enterprise that's created an employee benefit that solves real problems: an all-in-one worker support that addresses issues limiting stable employment such as childcare, transportation, housing, health, and financial stability.
The service is proven to improve economic security and mobility for employees and benefit businesses with reduced employee turnover and improved employee satisfaction and engagement. Financial stress costs businesses $500 billion a year in lost productivity, and it costs nearly 50% of their annual salary to replace a middle skilled employee. After working with a Resource Navigator, 67% of employees report feeling less stressed and 93% stay employed.
Here's how one employer described the benefit's unique value: "When looking at our company's statistics for services they have provided, it's staggering, and the amount of support provided is more than just monetary numbers. The intangible support our employees feel is far more valuable…it is incomparable."
The grant follows a growing trend of investment in workers as a social and commercial win-win. This major investment will fund WorkLife Partnership's ambitious growth and create a path toward sustainability for the enterprise. The grant supports the adoption of custom technology to engage businesses, collect data to inspire greater employer investment in workers, and enable high-touch delivery of services to remote workforces. This innovation in tech will advance the organization's goal of nationwide worker access. WorkLife Partnership aims to expand access to their employee support benefit to 1 million workers by 2025. Adopted on a large scale, WorkLife's services have the potential to make a major impact in economic stability, mobility, and equity across the US.
"This investment creates an opportunity for WorkLife Partnership to push forward its goal of being a new kind of organization: a nonprofit that creates powerful social impact while operating with the financial sustainability and the technical innovation of a business," said Founder and CEO Liddy Romero. "The foundation's support for our ideas and our work will do so much to build not only our own service for creating economic mobility but also a new culture of investment in frontline workers as a business imperative among employers."
About WorkLife Partnership
WorkLife Partnership builds economic stability and opportunity by offering employers the first employee benefit for the needs of frontline workers. WorkLife Partnership connects workers to specially trained Resource Navigators who provide personalized resources and education to address challenges such as housing, finances, healthcare, childcare, or transportation. By providing employees with WorkLife Partnership's unmatched level of support, businesses also benefit through talent retention, employee engagement, and productivity. After successfully incubating this service in Colorado for more than 10 years, WorkLife Partnership is expanding access nationwide through their innovation lab and provider network, WorkLab Innovations.
Contact: Alyssa King, Brand Manager
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