What is WorkBOOST NYC?
The Financial Clinic launched WorkBOOST NYC – its first full financial security ecosystem – in May 2016 through a partnership with leading New York City-based workforce development organizations. In the first year cohort, the Clinic was proud to partner with Madison Strategies Group, Opportunities for a Better Tomorrow, Phipps Neighborhoods, and the Stanley M. Isaacs Neighborhood Center, who have all successfully integrated financial security building curriculum and the ecosystem referral process into their programming. Accomplishments so far include:
- 43 frontline staff trained to incorporate financial security building strategies through 8 technical trainings and 3 organizational development sessions
- 353 customers received ‘light-touch’ financial coaching from frontline staff
- 101 customers referred to and met with onsite financial coach
- Financial security milestones achieved:
- 75 customers have pulled their credit reports
- 67 customers have organized their debts
- 112 customers have identified a financial goal
- 41 customers have created a spending plan
- Policy agenda formed based on the predominant barriers facing New York City jobseekers, including:
- Navigating challenges of a minimum wage increase
- Inspiring the road to work: tackling the benefits cliff
- Bridging the digital divide: increasing access and building proficiency
In addition, there is early evidence of improved workforce development outcomes including an 8% increase in retention and completion rates of workforce programs, 2% increase in job placement, and higher wages upon placement ($1.59/hour).
Emboldened by the initial results, the Clinic is thrilled to expand WorkBOOST NYC to four new partners for the second year cohort: CAMBA, Comprehensive Development, Inc. (CDI), Seedco, and Year Up join returning members, Madison Strategies Group and Opportunities for a Better Tomorrow. Read the recap of the launch event!