Neighborhood Trust Financial Partners, a nonprofit social enterprise and a national leader in financial counseling, and Best for NYC, a collaboration between the City of New York and B Lab that supports businesses in making positive changes to their business practices, announce a new partnership to help Best for NYC’s members strengthen the financial health of their employees.
With this partnership, Best for NYC is providing Trusted Advisor, Neighborhood Trust’s workplace financial wellness benefit, as an exclusive offering to its 2018 business members. The partnership aims to establish employee financial wellness as a benchmark for good business. The service will be available to the 1,500 businesses within the Best for NYC community. In total this partnership will grant more than 65,000 workers access to Trusted Advisor.
“Neighborhood Trust and Best for NYC share a vision of employee financial wellness as essential to a quality job. It’s not just the right thing to do—it’s good business,” said Justine Zinkin, Neighborhood Trust’s CEO. “Our partnership will enable hundreds of small-to-medium-sized businesses in New York City to invest in their employees’ financial health in meaningful ways: getting out of debt, saving, building credit, and taking full advantage of existing workplace financial benefits such as direct deposit and 401k plans. Employees’ paychecks will go further and businesses will be rewarded with a less stressed, more productive and loyal workforce.”
“Businesses across New York City know that investments in their workforce realize returns for their business and their workers; however, small- and medium-size businesses too often lack the tools,” said Christine Curella, Director of Business Initiatives and Job Quality, Mayor’s Office of Workforce Development. “By working with businesses to improve their practices, including offering employee financial wellness services, we are helping workers achieve financial stability and employers retain their workforce, a critical issue in this tight labor market. We are proud to bring Trusted Advisor to the Best for NYC community as part of our effort to identify and scale innovation that can drive inclusive growth for businesses, and support wealth-building opportunities for working New Yorkers.”
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Through Trusted Advisor, employees at Best for NYC businesses will be able to select from a roster of Neighborhood Trust’s expert financial counselors via phone, Skype or mobile device. Trusted Advisor combines live guidance with Neighborhood Trust’s suite of digital financial planning and management tools and access to reliable financial products to help employees optimize their paycheck and begin saving for the future. Trusted Advisor fees are waived for Best for NYC members.
Led by the Mayor’s Office of Workforce Development, Best for NYC is a citywide initiative that seeks to inspire and equip businesses to take actions that strengthen bottom-line and improve the quality of jobs for New Yorkers. Businesses first use an analytics and impact measurement tool, developed by the global business certification organization B Lab, to identify opportunities to invest in their workforce and their growth, including investing in on-the-job training and offering services and products that increase worker well-being and retention. Businesses can then connect to partners across New York City whose programs can help them take action. In fall 2018, the City of New York and B Lab will recognize businesses that have invested in their workers, as part of the third annual Best for NYC Awards.
To learn more about Trusted Advisor as a Best for NYC member benefit, please visit http://bestfor.nyc.