Best Practices

Bank of America study says offering financial wellness tools increases employee retention

Bank of America study finds 84% of employers say offering financial wellness tools increases employee retention

97% of employers feel responsible for employee financial wellness, with 91% seeing higher employee satisfaction when offering resources to manage overall wellbeing

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Bank of America announced findings from its 12th annual Workplace Benefits Report, Navigating a New Era of Financial Wellness.” The report revealed that 84% of employers now say that offering financial wellness tools can help reduce employee attrition, and 81% say wellness tools help attract higher quality employees. This is critical to employers, as 46% have seen an increase in resignations over the past year. In addition, approximately one in three employees have switched jobs or thought about switching jobs in the past year.

The report also explored the impact of the current economic and inflationary environment on employees’ financial wellness, revealing that 62% of employees are stressed about their finances. In addition, 80% of employees are concerned about inflation, and 71% feel the cost of living is outpacing growth in their salary or wages. This is having an impact on employees overall feeling of financial wellness. After the percentage of employees who feel financially well bounced above pre-pandemic levels in February 2022 (57% .vs 55% in 2019), the percentage dropped to a 5-year low of 44% in July 2022.

“Offering comprehensive benefits and wellness programs can be critical for employers looking to reduce attrition, can empower employees to take control of their personal finances, and improve employee satisfaction,” said Lorna Sabbia, Head of Retirement and Personal Wealth Solutions at Bank of America. “We are committed to partnering with employers to provide financial wellness solutions through a holistic and integrated approach that’s actionable for every employee.”

Based on a nationwide survey of 824 employees and 846 employers conducted in February, and a second survey of 478 employees conducted in July, the Workplace Benefits Report examines trends related to workplace financial benefits and wellness programs.

Employers are embracing financial wellness programs and expanding support

In response to increased stress about financial wellness, employers continue to embrace programs to expand support for their employees. For example, 91% of employers see higher employee satisfaction when they offer resources to manage overall wellbeing. Other top employer findings include:

  • Employers feel an increased sense of responsibility for the financial wellness of employees. 97% of employers feel responsible for employee financial wellness (up from 95% in 2021, and from 41% in 2013) – with two-thirds (62%) going as far to say they feel extremely responsible (up from 56% in 2021). Employees agree with this sentiment, as 82% say employers should play a role in supporting their financial wellness.
  • Wellness programs result in tangible benefits for employers and employees. 80% of employers agree that offering financial wellness support can result in more satisfied, loyal, engaged and productive employees. Employers who take it a step further and broaden their wellness programs to include mental and physical wellness resources are seeing noticeable improvements in productivity (50%), employee stress (43%), employee morale (41%) and employee creativity and innovation (36%).
  • Equity grants are powerful recruitment and retention incentives. 76% of employers believe equity compensation is a differentiator for employee recruitment and retention, and 44% of employees who participate in equity compensation plans say it was an important reason for accepting the job.
  • Health care remains an opportunity. 84% of employers feel very responsible for their employees’ understanding of retirement healthcare needs and costs, and 89% of employers who offer Health Savings Accounts (HSAs) contribute to their employees’ savings. Healthcare education is an opportunity, with only 54% of employers communicating about these topics at least once a year.
  • Access to investment advice. With four-in-ten employees saying they want access to advice from an investment professional, 62% of employers are now offering employees access to investment advice services (up from 55% in 2021).
  • Heightened focus on D&I programs. 74% of employers believe that diversity and inclusion programs are important for retaining talent, and half (50%) of employers currently offer diversity and inclusion programs.

Employees seeking programs to help alleviate financial strain and plan for the future

Employees express uncertainty about current economic conditions and are taking actions to relieve financial strain:

  • Employees are dipping into savings due to financial strain. Half of employees have taken action in the last six months due to financial strain, including tapping into emergency savings (21%), working additional hours (21%), looking for higher paying jobs (20%) and taking out a 401(k) hardship withdrawal (6%).
  • Retirement remains a top concern, driving action. As of July 2022, 56% of employees are confident they will reach their retirement goals, down from 69% in February 2022. Seventy-four percent say investing in their 401(k) and other accounts will help them build a retirement nest egg, and 61% are contributing enough to maximize their employer match.
  • Education about Social Security is an opportunity. Only 38% of employees say they understand social security benefits. Even among Baby Boomers, 41% still do not understand social security. While 48% of employees indicate they are not getting enough education about the program, only 40% of employers offer employees social security support and education.
  • Employees are more optimistic about their intermediate, longer term future. When looking at the next 2-3 years, most employees said they felt optimistic about their financial (56%), social (60%), and mental (62%) well-being.
  • Digital tools play a key role in driving employee engagement. Employees are seeking out digital tools that offer personalized support, and employees find tools that can provide streamlined information and help track and set financial goals most useful. Fifty-two percent of employees prefer to use a digital app to manage their finances.

Financial wellness levels vary based on employees’ ethnicity, gender and generation

Employees continue to show differences in financial wellness when viewed by gender, ethnicity or generation. Though the financial wellness gap has closed for women, it has expanded for minorities since February. Top findings include:

  • Women lag men but are closing the gap when planning for long-term goals.Women continue to trail men in their feelings about financial wellness and preparedness. For example, 54% of men and 69% of women do not understand social security benefits. Despite this, the financial wellness gender gap is closing. As of July 2022, women were less likely to feel financially well than men by five percentage points (42% of women .vs 47% of men), down from 10 percentage points in 2021 (47% of women .vs 57% of men) and 17 percentage points in 2020 (41% of women .vs 58% of men).
  • Minorities have seen a greater negative impact to their feelings of financial wellness. Employees across various ethnicities reported significant drops in their perceptions of financial wellness, with minorities reporting more significant declines. For example, 49% of White/Caucasian employees feel financially well (compared with 56% in February), followed by 37% of Asian employees (67% in February), 33% of Hispanic/Latino employees (47% in February) and 32% of Black/African American employees (50% in February).
  • Feelings of financial wellness have declined across generations this year. Since February, feelings of financial wellness have declined significantly across generations, with Gen Z/Millennials at -15%, Gen Xers at -14% and Baby Boomers/Silent Generation at -10%.

Bank of America’s Retirement & Personal Wealth Solutions organization serves more than 26,000 companies of all sizes and more than 5.9 million employees as of December 31, 20211. Bank of America offers institutional client employees a range of financial benefit programs and solutions to help them pursue their financial future.

More findings, including action steps for employers, are available in the Bank of America 2022 Workplace Benefits Report.

Workplace Benefits Report Methodology

Escalent surveyed a national sample of 834 employees who are working full-time and participate in 401(k) plans, and 846 employers who offer both a 401(k) plan and have sole or shared responsibility for decisions made in the plan. The survey was conducted between February 3, 2022 and February 28, 2022. To qualify for the survey, employees had to be current participants of a 401(k) plan and employers had to offer a 401(k) plan option. Neither was required to work with Bank of America. Bank of America was not identified as the sponsor of the study. Bank of America Retirement & Personal Wealth Solutions help employers and employees to take action and work toward their financial goals today and into retirement.

July 2022 Pulse Study Methodology

Escalent surveyed a national sample of 478 employees who are working full-time and participate in 401(k) plans. The survey was conducted between July 5, 2022 and July 19, 2022. To qualify for the survey, employees had to be current participants of a 401(k) plan. They weren’t required to work with Bank of America. Bank of America was not identified as the sponsor of the study. Bank of America Retirement and Personal Wealth Solutions help employers and employees to take action and work toward their financial goals today and into retirement.

Financial Wellness at Bank of America

At Bank of America, we know that supporting the physical, financial and emotional wellbeing of our employees in their personal life also supports them in their work life — so they can be the best at work and at home. When it comes to financial wellness, we believe that the more informed people are about their money, the clearer their financial outlook can be. This applies not just to our clients, but to our employees, as well. This is why we offer robust financial offerings to our employees that focus on driving better behaviors across life priorities and the financial spectrum — budgeting, planning, saving, investing and more. Our competitive financial benefits – including 401(k) plans that include a company match, retirement advice2, health savings accounts3, banking4 and investing5 programs, educational resources and financial wellness tools – help employees address money issues in the here-and-now, prepare for retirement and help protect their family over the long term.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (ATMs) is listed on the New York Stock Exchange.

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]
Sep. 30, 2022|

Know Your Numbers: 5 Keys to Small Business Success

Know Your Numbers: 5 Keys to Small Business Success

 

 

The phrase “Know Your Numbers” typically refers to measuring your personal health by knowing your blood pressure, weight, cholesterol levels, etc. You and your doctor can use these numbers to make sure you’re healthy and identify early indicators of potential issues.

The same concept applies to your small business. Some small business owners consider their business to be a success if their bank account is growing – or at least not shrinking. But that’s the equivalent of saying you’re healthy because you feel good today. Just like for your health, there are key metrics that will help you better understand your business and uncover opportunities and potential issues.

#1: Start Simply

You do not need to become a data scientist to make sense of small business metrics. But it is easy to get overwhelmed. So start simply and build from there.

Find a performance dashboard you like, such as the one provided by your point-of-sale system. In this Best Practices for Small Business Success series, we’ll use examples from the Manage My Business app because it is specifically designed to help small business optimize their results. But use whatever you’re comfortable with.

You already know your sales numbers, so start by looking at this metric from different perspectives. For example, a "heatmap" graph is an excellent way to visualize your sales by the time of the day as well as the day of the week. In the following example, it’s easy to see the busiest day is Saturday and the slowest hour is 4-5pm on weekdays – perhaps indicating the need to close an hour earlier on weekdays.

Similarly, sales trend graphs often provide great insights, especially when viewed from different perspectives. This next example shows sales on Wednesdays are declining slightly over time, which could indicate a normal seasonal trend or a potential issue to investigate further.

The key is to start by looking at a few key metrics (like Sales and Order Size) to avoid getting overwhelmed and frustrated, and then expand from there as you become more comfortable with your data.

#2: Only Use Apples-to-Apples Comparisons

Comparing today’s results to those a month ago can be useful as long as “month” is defined as “four weeks ago”. This is because the day of the week influences sales for almost every business. So comparing April 30 (a Saturday) to March 30 (a Wednesday) is typically not useful, but comparing April 30 to April 2 (both Saturdays) can be very useful in measuring growth.

The same concept applies to holidays, where Mother’s Day is May 8 in 2022 but May 14 in 2023. Holidays that are on the same date every year (Christmas, Juneteenth, etc.) are exceptions, where it may be useful to compare the same date year-over-year.

A similar issue comes up for intraday comparisons. It doesn’t make sense to compare results as of noon today to the entire day of sales yesterday.  However, a comparison of sales as of noon today to sales as of noon yesterday can be very insightful.

Oddly enough, most dashboards do not make it easy to make apples-to-apples comparisons. The Manage My Business app is perhaps the only app available to small businesses that is built to ensure apples-to-apples comparisons – including understanding holidays, as shown in this example:

#3: Keep Everything in Context

It’s easy to misinterpret or misuse data, especially when it’s taken out of context. You know your business well, so make sure all metrics are interpreted within the context of your business.

Let's consider the first example above where 4-5pm on weekdays is the slowest hour. Perhaps this is good because it allows your employees to start pre-closing work and leave a little earlier – reducing payroll costs while still offering convenient store hours for your customers. Or perhaps it would be better to close earlier. Putting the data in context will ensure you make good data-driven decisions.

Keep external influences in mind as well. For example, COVID-19 caused Order Size to increase for many small businesses as consumers bought larger quantities to reduce the number of trips outside the home. The Order Size then declined as life slowly returned to normal. A decline in this key metric is usually a negative indicator, but this external factor explains why it might not be a cause for concern in this situation.

Similarly, a major retailer of cribs saw a sudden drop in their crib sales some years ago and didn’t know what to do. Based on data from a market research firm, they discovered crib sales were down for all retailers, not just them. This market context prevented them from making a bad business decision (heavy discounting or discontinuing crib sales). Crib sales returned to normal within the next six months.

#4: Keep Asking “Why?”

Analytics are only useful if you can identify why something happened and apply that insight to improve future performance. Understanding why crib sales dropped (an unusual, short-term drop in demand) allowed that retailer to make informed decisions about its future. Not understanding why could have led to disastrous results.

As you’re looking at your performance data, keep asking yourself why something happened – regardless of whether it was a positive or negative change. Negative results tend to draw our attention, but there’s a lot to be learned about why performance improved as well.

For example, price changes can obviously affect sales. In the graphs below, it’s not clear why cappuccino sales (as a percentage of total sales) were flat or trending slightly up after the price increase while latte sales were trending down. Perhaps one was still favorably priced compared to competitors while the other became overpriced. Digging deeper into the “why” will help determine if additional price adjustments are needed.

It's a never-ending process, but that’s part of the fun of owning a small business. It’s a series of challenges that push you to find new and innovative ways to create great products and customer experiences. Continually asking “Why?” will often identify new ways to make your small business special.

#5: Trust Your (Informed) Gut

Most small business owners don’t have a business degree, but they do have an intense passion for what they’re selling – whether it’s coffee or antiques or fashion or whatever motivated them to start their business. As a result, you are a subject matter expert for your business and will have good instincts for how to run it.

Analytics complement your expertise by providing insights that may not be obvious from just observing the day-to-day business. Going overboard with analytics is just as bad as ignoring analytics. It’s the balance between expertise, instinct and data-driven decisions that will be the key to your business’s success.

Steven Roth is the creator of the Manage My Business app and best practices guides. He is passionate about helping "mom-and-pop" stores make better data-driven decisions by making analytics accessible and actionable.
Steven has been a retail consultant for 20+ years, including several years at Google. He is an expert in retail analytics and has helped build tools and services used by millions of retailers worldwide. He currently owns two small businesses, giving him firsthand knowledge of the challenges small businesses face daily.

Next Steps

Get to know your numbers by finding a dashboard that supports your business needs. Big retailers have teams of data scientists that do this analysis, but a data-focused mindset along with your existing expertise and instincts can give your small business a big edge.

 

Florida's Small Business Development Center

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

 

Jul. 7, 2022|

Underserved communities banking on businesses to help wipe out hunger

Underserved communities banking on businesses to help wipe out hunger

Tammy Matthew — Market Executive, Bank of America Treasure Coast

Tammy Matthew has worked in the financial services industry for more than 25 years. In her role as the market executive for Bank of America, she leads the market’s business, civic and philanthropic activities and oversees the bank’s business engagement and growth on the Treasure Coast.

More than 12% of Florida residents are facing food insecurity, according to Feeding America. This means the chances are high that you know someone suffering from food scarcity, even if you don’t realize it. More than 2.5 million Floridians live in households without consistent access to food and more than 700,000 are children.

Taking a closer look at the Treasure Coast, Indian River and St. Lucie counties share even higher rates of insecurity than the state average and the prevalence among children is significantly greater at more than 22%.

Hunger is complex and exacerbates other issues faced by underserved communities. Estimates show that hunger results in more than $4 billion of additional annual healthcare costs for Florida, and more than $126 million on the Treasure Coast, through increased illness and decreased academic achievement.

Food insecurity is a compounding issue, creating ripple effects that weaken the labor force and limit the academic potential of children. Yet, as the pandemic continues, hunger relief organizations in the Treasure Coast and across the country are facing ongoing challenges that have made it increasingly difficult to address this issue, such as increased demand for their services and rising food prices.

As members of the Treasure Coast community, it’s important that local business leaders are aware of vital organizations like the Treasure Coast Food Bank, that are lifelines to residents who may not know where their next meal is coming from.

Solutions exist to bridge the hunger gap, including community cohorts, school programs, and awareness campaigns to connect those in need to available resources, but programs like these need financial support — estimates indicate more than $1.4 billion more per year is needed to adequately meet food needs in Florida.

While the magnitude of need and funding requirements may seem daunting, they are surmountable when people work together. Supporting health and wellness has always been part of Bank of America’s commitment to the communities it serves. Bank officials are happy to share that the Treasure Coast Food Bank has received $25,000 in honor of their employees who shared that they have received a COVID-19 vaccine booster shot. Nationally, the bank has committed $10.6 million in donations to local food banks.

The impact of the donations is sizable, meaning that its booster donations will provide thousands of meals to Treasure Coast residents across the three counties Bank of America serves. The bank has been a longtime partner of the Treasure Coast Food Bank, donating more than $265,000 to the organization and participating in volunteer efforts, including warehouse sorting and packing as well as Better Money Habits presentations.

Since the beginning of the pandemic, Bank of America has also provided support across the region to the hunger relief efforts of House of Hope, Sarah’s Kitchen of the Treasure Coast, and the Council on Aging of Martin County.

Furthermore, the bank donated 398,000 masks, 1,122 hand sanitizers, 202,000 pairs of gloves and other PPE equipment to help local nonprofits address critical issues affecting the community beyond food insecurity.

Today the financial institution applauds its employees who participated in its shared commitment to protect and serve their communities. It also encourages the Treasure Coast’s business community to find ways to support both employee and community wellness. We all win when we work together to create a better tomorrow for Florida today.

See the original article in the print publication


Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

Apr. 19, 2022|

Bank of America offers digital resources to help Entrepreneurs start and grow their Businesses

Bank of America offers digital resources to help Entrepreneurs start and grow their Businesses

New secured credit options, including a credit card and credit line, and the Start a Business Center digital experience demonstrate ongoing commitment to helping small businesses succeed

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Bank of America announced the launch of the Business Advantage Unlimited Cash Rewards Secured credit card, Business Advantage Secured Credit Line and the Start a Business Center – its latest products and resources for entrepreneurs looking to start a small business or build their business’ credit history.

“Bank of America is committed to providing small business owners with innovative solutions and advice that can help them grow their business and establish long term financial wellness,” said Sharon Miller, president of Small Business and head of Specialty Banking and Lending at Bank of America. “These latest offerings are designed to empower entrepreneurs by providing them with access to resources that will help them to start or strengthen their businesses.”

Business Advantage Unlimited Cash Rewards Secured credit card

As small business owners continue to navigate a challenging business environment, the Business Advantage Unlimited Cash Rewards Secured credit card provides a new tool to help them establish, strengthen or rebuild their business credit – all while providing cardholders with the benefits that matter most to their business.

The new credit card is available now and has no annual fee. Benefits include:

  • Client-determined credit line from $1,000 to $10,000
  • 1.5% cash back on all purchases, with no annual rewards earn cap
  • Preferred Rewards for Business eligibility, providing access to a wide range of valuable rewards, benefits and savings – all with no fee to join or participate

Secured Business Advantage Credit Line

Additionally, Bank of America will offer a Secured Business Advantage Credit Line for small business owners, scheduled to launch later in 2022.

The credit line includes:

  • Client-determined credit line from $1,000 to $50,000
  • Convenient access to funds via online banking, convenience checks and linked Visa card
  • Annual renewal fee of $150

“Straightforward and convenient access to capital is crucial to ensuring small business owners have the resources they need to succeed,” said Chris Wong, Small Business Products executive at Bank of America. “With the launch of the new Business Advantage Unlimited Cash Rewards Secured Credit Card and Secured Business Advantage Credit Line, Bank of America remains committed to helping our 11 million business owner clients build and strengthen their business credit.”

Start a Business Center Digital Experience

Bank of America has also introduced a new resource to assist clients with starting a new small business. The Start a Business Center digital experience guides existing small business clients and aspiring business owners on exactly how to start and run their new business. It also offers an exclusive discount on business formation for Bank of America clients through Incfile.1

The digital experience offers resources such as business plan templates, partners for critical services and access to Bank of America Small Business specialists. Clients can utilize tips and considerations on topics such as writing a business plan, business legal structures, marketing strategy and business financing options.

To view our small business resources, download the Bank of America app or visit bankofamerica.com.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with more than 54 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email [email protected]

 

Mar. 28, 2022|

Florida SBDC IRSC holds Digital Marketing Bootcamp

Florida SBDC IRSC holds Digital Marketing Bootcamp

 

The Florida Small Business Development Center (SBDC) at Indian River State College (IRSC) is conducting a pilot for their Digital Marketing Bootcamp kicking off on Monday, January 31, 2022 at 8 a.m. on the IRSC Pruitt Campus in St. Lucie West.  

This is a three-day program offered to participants at no-cost. The class will take place on three Mondays starting January 31 2022 and runs up until Monday, February 14 2022. The FSBDC at IRSC does plan to bring this program to other counties throughout 2022.

This program is designed for Treasure Coast business owners, entrepreneurs, marketing students and others wanting to strengthen their digital marketing strategy. The focus will be on creating a positive digital presence on social media and establishing a digital marketing strategy. 

In this course participants will learn: 

  • What a buyer’s persona is and how you can create one for your service or product
  • Drafting a marketing plan 
  • Implementing your marketing plan on social media 
  • Defining your target market 
  • Tailoring your marketing message
  • Creating a call to action
    & more!

To register or inquire about this program please visit: https://zfg6frxnxio.typeform.com/to/adtKTaog?typeform-source=www.canva.com 

These courses will be facilitated by FSBDC at IRSC Digital Media Consultant, Leanna Haag, who earned her Bachelors of Science & Administration with an emphasis in Marketing at the University of Central Florida. She garnered valuable marketing experience working for such corporations as Jeppesen and Allstate Insurance, primarily working in the roles of Marketing Coordinator to develop and execute tactical marketing plans at the regional and national level. With a desire to become an entrepreneur, Leanna started See Level Marketing in 2009 to service local businesses on the Treasure Coast struggling to manage their online presence. She has had the privilege to work with businesses of all types, including local government, to improve their search engine ranking with website development and search engine optimization, internet advertising, email marketing, online directories and development of tactical internet marketing plans. She is proud to recently take on the role of Digital Consultant with the FSBDC to begin the recovery process for local businesses from the COVID-19 pandemic.

Contact your local Florida SBDC at IRSC at [email protected] or call (772) 336-6285 with questions regarding this program and others.

 

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Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected]com  [email protected]

Jan. 25, 2022|

Bloomberg Terminals come to IRSC

IRSC Business and Finance Students Gain Edge with Addition of Bloomberg Terminals

 

Students studying at Indian River State College now have access to the platform used by the world’s leading banks, corporations and government agencies to view real-time global financial data, news feeds and messages. The College has installed 12 Bloomberg Terminals, providing students with unparalleled coverage of markets and securities with information across asset classes—from fixed income to equities, foreign exchange, commodities and derivatives.

IRSC’s implementation of the Bloomberg Terminals brings the real world of business and finance into the classroom. IRSC is one of more than 1,000 academic institutions globally—but the only one on Florida’s Treasure Coast—to integrate Bloomberg into the curriculum for its business and finance degree programs. The new IRSC Bloomberg Financial Lab will also be used for financial literacy programs and Bloomberg certification courses, which the College expects to begin later this year.

“The opportunity to bring Bloomberg to our students provides an unparalleled resource in developing valuable financial and analytic skills that will differentiate and improve their competitiveness in the job market,” explains Dr. Prashanth Pilly, Dean of the IRSC Business Division. “Integrating classroom teaching with the real-world data, news and analytics available on the Terminal better prepares our students for futures in the business and finance industries.”

IRSC’s subscriptions to the Bloomberg Terminal will serve as a resource for both students and professors. It will enable students to become familiar with tools used in financial services, reinforcing classroom theory, while professors can use it to further their research.

“When a student comes to IRSC, they can expect a best-in-class education, and our Bloomberg Finance Lab is another example of the outstanding resources that are freely available to them,” shares IRSC President Dr. Timothy Moore. “At IRSC, students from every academic discipline have the opportunity to sharpen their financial literacy to help them succeed personally and professionally.”

Students of varying levels and study areas can familiarize themselves with the fundamentals of finance through the lens of the Terminal by taking Bloomberg Market Concepts (BMC). Upon completing BMC’s Core Concepts modules, learners receive a certificate of completion that can be added to their LinkedIn profiles and resumes to show their knowledge of both the markets and the Terminal.

A ribbon-cutting for the new Bloomberg Finance Lab is scheduled for Wednesday, February 23, at 10:00 a.m. in the Brown Center for Innovation & Entrepreneurship.

 

Bloomberg at IRSC

 

 

 

Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected]com  [email protected]

Jan. 25, 2022|

Pharus Group expands ecosystem of services

Leading FL-based full-service business management advisory firm launches new suite of services with the unveiling of nine new business units to help customers nationwide.
Jul. 19, 2021|

Intraprenuers are vital employees if a company is going to succeed

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Restaurants need to adopt technology to help survive effects of pandemic

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New leaders need to be effective in today’s work environment

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Apr. 30, 2021|