Expanding financial inclusion of low-income workers in global supply chains
Two billion adults globally do not use formal financial services to save or borrow money, and women disproportionately lack access and control over financial resources. As a result of their financial exclusion, the world’s poor are often unable to break the vicious cycle of poverty.
Ensuring the poor—particularly women—have the proper knowledge, skills, and attitudes toward financial services, and enabling them to participate in the formal financial sector, has significant benefits:
- It allows individuals to save for emergencies and build resilience to economic shocks, such as illness or loss of employment
- It empowers women to influence financial decision-making, which shifts household spending patterns in ways that benefit children and families
- It enables low-income adults to invest in economic opportunities
- It supports investments in health and education
HERfinance utilizes the HERproject methodology of capacity building and workplace strengthening, with the following focus areas:
Workplace System Strengthening
Guidance on financial planning, budgeting, and savings to improve resilience to economic shocks
Conversion of payroll from cash to digital to support financial inclusion of employees
Knowledge and confidence-building to enable women to take control over their finances
Integration of financial education into new hire onboarding training
Awareness raising on benefits of formal vs. informal financial services
Linkages to local financial services providers
Middle management training on administering digital payroll
HERproject is Generously Supported by
HERproject Company Participants
- Taekwang Industrial Co., Ltd.
- New ERA Cap Co., Inc.
- New Balance Athletics Inc
- L Brands, Inc.
- Flextronics International LTD
- Fishman Tobin
- ETAM SCE
- ASDA (IPL)
- Brooks Sports Inc.
- Li & Fung Limited
- Williams-Sonoma, Inc.
- R. Twining & Company Limited
- Target Corporation
- Kate Spade & Company
- Hewlett Packard Enterprise
- Fossil, Inc.
- Ethical Trading Initiative
- Avery Dennison Corporation
- Ansell Healthcare Products Plc
- Deckers Outdoor Corporation
- C&A Foundation
- Fast Retailing Co., Ltd.
- Samsung Electronics
- Timberland LLC
- The Talbots, Inc.
- Waitrose Ltd.
- Regatta Foundation
- The Children’s Place, Inc.
- The Co-operative Food
- New Look Retailers Ltd
- Nordstrom, Inc.
- Primark Stores, Ltd.
- MQ Sweden AB
- Microsoft Corporation
- Marks and Spencer p.l.c.
- J Sainsbury plc
- J. Crew Group, Inc.
- HP Inc.
- Etam Europe
- H & M Hennes & Mauritz AB
- Forty Seven Brand
- Columbia Sportswear Company
- C&J Clark International Ltd.
- Burberry Group, plc
- DEG - Deutsche Investitions-und Entwicklungsges. mbH
- BESTSELLER A/S
- Belk, Inc.
- Ann Inc.
- American Eagle Outfitters, Inc.
- Abercrombie & Fitch Co.
- AB Lindex
- Levi Strauss Foundation
To unlock the full potential of women working in global supply chains through workplace programs promoting health, financial inclusion, and gender equality. Download an overview of HERproject. Download an overview of HERproject.
BSR is a global nonprofit organization that works with its network of more than 250 member companies and other partners to build a just and sustainable world. From its offices in Asia, Europe, and North America, BSR develops sustainable business strategies and solutions through consulting, research, and cross-sector collaboration. Visit www.bsr.org for more information about BSR’s 25 years of leadership in sustainability.