The Red Tab Foundation brought back a new and improved version of its popular Savers program this summer to help employees build their savings. With Savers, RTF matches every dollar that participants save, and over the past seven years, the program has helped employees save over $1 million of their own dollars. This year’s cohort is the biggest ever in the history of the program, engaging 14% of eligible frontline employees in the U.S., while the majority of similar programs at other companies engage only 1 to 3% of employees.
“When employees feel more financially secure, they feel more productive, more focused and more engaged at work,” said Levi’s® Store Manager Debbra Ward.
To make learning to save easier than ever, this year the program underwent a relaunch in the U.S. RTF has been working closely with Blackrock’s Emergency Savings Initiative to rebuild the program with industry insights about savings behavior. Improvements include an additional yearlong Save to Win challenge and an app with automatic deposits and rewards each month, administered by QUBER, which has been our longtime partner on this program in Canada.
“I was able to save some money to pay off my credit card debts. It’s amazing, I only put up $240, but I got $500 back!” said Juvilyn Douglas, an order fulfillment employee in our Canada distribution center who was a QUBER super user in 2020. “There are so many challenges you can do in the QUBER app to save up some money, and I’m still using it to this day. It’s so good to work for a company that helps you out. These little things make a big difference.”
We’re proud to continue helping LS&Co. frontline employees create strong financial futures for themselves.