Asda and Burger King are among a group of retail, hospitality, healthcare and customer service businesses launching a new financial education alliance to improve the nation’s financial literacy.
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Convened by workplace finance provider Stream, inaugural members of the Employer Alliance for Financial Education also include Travelodge, Frimley Health NHS Foundation Trust, and customer experience company Foundever.
The alliance aims to give its members’ combined workforce of more than 180,000 people practical tools to understand and manage their money.
Members will promote accessible financial learning, share best practice, and measure whether employees’ financial confidence and knowledge improve over time.
Educational initiatives will focus on how interest and borrowing work, how inflation affects spending power, and how to assess risk when saving or investing.
“Financial wellbeing is an important part of supporting our people, both at work and in their everyday lives,” said Asda chief people officer James Goodman.
“By making practical financial education more accessible through the workplace, we can help our colleagues to build the knowledge and confidence required to make informed decisions about their money and plan for the future.”
The launch of the alliance comes as financial literacy in the UK lags behind other developed nations including the USA, Canada, Australia and Germany, according to research by The Richmond Project, a UK charity co-founded by former prime minister Rishi Sunak.
The Richmond Project CEO Lizzie Gaisman added: “Targeted workplace interventions do not just offer convenience – they offer access. When employers proactively provide clear, accessible financial education and foster a non-judgmental environment around numerical skills, they remove the stigma that keeps people from seeking help.”
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