Integrating Financial Security and Asset-Building Strategies into Workforce Development Programs

The workforce development and asset-building fieldsshare the goal of ensuring individuals have the tools to participate in, contribute to and benefit from the mainstream economy. Yet although they share a goal, each field approaches the challenge from a different angle. In general, workforce development providers help individuals navigate and succeed in the labor market by providing a range of services that build skills and human capital and connect them to jobs. A successful outcome for a workforce program is when a customer obtains steady employment that provides adequate income, and ideally, a promising career path. Asset-building providers, by contrast, focus on helping individuals navigate and succeed in the financial marketplace by providing a range of services that help individuals make the most of their income in both the short and long terms. These services, which focus on improving financial capability, helping individuals access appropriate and affordable financial products, building savings and avoiding predatory practices, are designed to help individuals build financial resilience that can help during times of crisis and build a nest egg that supports future goals.

This guide is designed to explore the possibilities for workforce development agencies to integrate asset-building strategies into their already-robust programming to maximize the overall effectiveness of their programs.
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