Building a Legacy of Equity: How Companies Can Honor MLK Day by Building Hourly Workers’ Financial Resilience

On January 20, 2025, the Dr. Martin Luther King, Jr. holiday will mark the 30th anniversary of this National Day of Service. Martin Luther King (MLK) Day was established to honor the life and legacy of Dr. King — a fierce advocate for the betterment of all people — and to encourage all Americans to volunteer to improve their communities.

Some companies recognize MLK Day as a yearly paid holiday, while others consider it a floating holiday and encourage their workers to spend the day giving back to the community through service. Many organize company-wide service projects on MLK Day.

But what about the other 364 days of the year?

Employers: Make MLK Day Not Just One Day but Every Day

Dr. Martin Luther King Jr. famously once said, “Life’s most persistent and urgent question is, ‘What are you doing for others?’” MLK is a good time for business leaders to think about how they can honor Dr. King’s legacy and build their own legacy of equity for their employees not only on his day but all year round.

One way to do this is by ensuring your benefits and payroll processes are geared toward providing meaningful short-term relief and long-term support to workers who may be struggling financially, especially low-income hourly employees.

Here are some ideas for showing compassion toward economically vulnerable hourly workers and helping them advance toward financial dignity and long-term well-being.

3 Ways to Build a Legacy of Financial Equity in Your Workplace

1. Free Financial Education, Resources, and Tools

Introduce free workshops, seminars, 1-on-1 professional counseling services, and online/mobile resources that provide your employees with financial education on topics like budgeting, debt management, saving, and investing.

2. Financial Incentives

You could set financial incentives tied to employees’ performance or wellness goals, such as bonuses or rewards for achieving financial milestones or participating in your free financial education programs.

3. Earned Wage Access (EWA)

Consider partnering with an on-demand pay solution provider that allows your workers to access their earned wages before their regular payday. Earned Wage Access (EWA) allows people to manage their income on their own terms and provides a dignified solution to anyone suddenly confronted with an unexpected or emergency expense.

3 Tips for Optimizing the Impact of Your Commitment to Building Employee Financial Resilience

Here are some ideas for amplifying your efforts to help financially vulnerable and struggling hourly workers:

1. Listen

When compiling your employee financial programs, bear in mind that not every worker has the same issues and needs. So, don’t underestimate the importance of listening to your people to determine the best mix of solutions and initiatives for their situations. Make use of a diverse set of listening channels, such as focus groups, employee councils, and confidential surveys, to gain a thorough understanding of your employees’ unique financial worries and challenges.

2. Get Senior Leaders, Managers, and HR Teams Involved

Encourage senior leaders, managers, and HR teams to demonstrate their enthusiasm and support for the financial well-being initiatives the company rolls out — whether by joining events, participating in conversations, or simply sharing the details and results of their programs with their professional networks.

3. Keep the Lines of Communication Open

Use your internal communications channels, such as your employee communication app, to ensure that all workers are aware of the range of financial wellness benefits at their disposal.

In Closing

MLK Day is not just a date on the calendar but a reminder of the enduring impact of a man who dared to dream of a more just, equitable, and compassionate world. He then translated those dreams into a blueprint that transformed the course of history.

For companies, MLK Day shouldn’t be just a once-a-year celebration; it represents an opportunity to redouble their commitment to equity and service. Helping struggling hourly employees by offering them EWA and other complimentary financial benefits is an easy-to-implement, low-cost, high-impact initiative that lasts all year round.

Payactiv’s Commitment to Employee Growth and Dignity

Payactiv helps businesses prioritize connections, build long-term relationships, and establish loyal, thriving teams. Our solutions make it easy for you to help your workers plan, spend, and save to live today with dignity while building financial security and savings for tomorrow.

Learn more about Payactiv’s Service, or book your demo now.

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