Improving Financial Health for Workers in Garment and Footwear Supply Chains in Guatemala: Benefits for Workers and Business

Source Summary

This report sets out the results from RISE's work in Guatemala, supporting four garment and footwear factories, with 2,385 workers (51% women) to improve financial health of the workforce. It includes recommendations for global brands and buyers, financial service providers and other key stakeholders to support this scale up in a way that can lead to increased financial inclusion and improved financial health for women and men workers across the industry. Recorded program benefits are: Increased use of financial products and services: 76% of workers are making two or more different types of digital payments, up from 61% Increased confidence to manage everyday expenses: 77% of workers are confident to manage expected expenses, up from 67% Increased financial resilience: 83% of workers are saving regularly, up from 69% Increased ability to make and act on economic decisions: 52% of women are making saving decisions with their family, up from 39% Improved manager–worker communications: 75% of managers rate their relationship with their workforce as ‘very positive’, up from 54% Download