Grant will provide essential training to people preparing to get back to work.
The WorkPlace was awarded a $10,000 grant to provide financial literacy training to participants enrolled in the newly created Retail Career Academy. The Retail Career Academy, developed in partnership with the Chicago Cook Workforce Partnership and the Walmart Foundation, assists the unemployed and underemployed while also providing retail employers with skilled workers. Funding from Citizens Bank to add financial literacy programing to the Academy’s classroom curriculum helps participants become more financial stable. Financial literacy is essential when recovering from unemployment and managing a household income which may be less than prior years.
Most unemployed or under-employed people deplete their savings and do not have the financial literacy or resources to rebuild their assets, maintain or even boost their credit ratings. The purpose of the workshop is to effectively support the efforts of Retail Career Academy participants to build on their job skills training by educating them on the importance of developing personal spending and savings plans and the importance of handling credit wisely. Financial literacy training will cover topics such as reviewing credit reports, preparing budgets, analyzing credit reports and other specific areas of need that will help participants gain control of their finances and prepare for their future.
Financial literacy is an especially important component for our programs to address economic independence. With an increasingly competitive employment market, The WorkPlace has enhanced services and training to better help job seekers find employment. Retail Career Academy participant receive assistance from Workforce Specialists to complete a customized employment plan which best aligns with their skills and is relevant to current labor demands.
“The WorkPlace has a long history of serving every portion of the community that requires support and training to reenter the workforce,” said Joseph Carbone, President and CEO, The WorkPlace. “Funding for financial literacy training helps us provide a more holistic approach to preparing people throughout the region to secure employment, increase earnings, and ultimately, better support their families.”
About The WorkPlace
The WorkPlace conducts comprehensive planning, and coordinates regional workforce development policy and programs to prepare people for careers while strengthening the workforce for employers. As national leader in the field, The WorkPlace regularly shares ideas and best practices with lawmakers, foundations, think tanks and other workforce development organizations around the country. For more information, visit www.workplace.org