Businesses can help struggling families
On March 10, the Colorado Fiscal Policy Institute released a groundbreaking study that tells a powerful tale about the challenges faced by working parents and low-income families today -- namely that one in five households can't afford basic everyday expenses.
The report, called "Overlooked and Undercounted: Struggling to Make Ends Meet in Colorado," compares household incomes to the Colorado Self Sufficiency Standard, which is a bare-bones budget of basic expenses such as food and housing. Health care and child care -- two of the most expensive basic needs -- also are included in the standard.
The report also provides a road map for business, nonprofit and government leaders to help strengthen our community and bolster our collective financial stability.
Why should this matter to business? The answer is threefold: prosperity, productivity and problem-solving.
First, if 20 percent of Colorado's households can't make ends meet, how can they afford dinner at our restaurants, new clothes at our stores or utilize everyday services that our businesses offer? Those who are scraping by daily aren't spending money, but are suffering greatly with everyday life.
This isn't a marginal group. According to the study, the 20 percent of households identified in the study include people of all racial, ethnic and educational backgrounds.
Second, if 20 percent of Colorado's households are struggling to get by with everyday costs, what kind of impact does that have on our productivity?
When an employee can't afford or get access to health care services for themselves or their family, are they missing work or even focused on their job? When a single mom in rural Colorado has to drive 75 miles to find child care, is her productivity suffering?
Without a doubt, the fact that basic services such as child care and health care are difficult to afford clearly has a negative impact on job performance. Which means it's not just a family issue -- it's a business issue.
Third, so long as businesses remain an integral part of our community -- which we obviously are -- we are also a part of the community's challenges. We in business also can be part of the solutions.
Today's Latest News Stories |
powered
by onTargetjobs
Denver jobs
Employers - Post
a Job Today SEARCH PRESS RELEASESContent provided by PR Newswire. Learn more about this service. |
» Sign up for
breaking news alerts.
Brought to you by Cingular
| |
