EVERFI® from Blackbaud®, the leader in powering social impact through education, today shares findings from a new survey of UK business leaders revealing that young people’s understanding and knowledge of personal finances is of high concern.
Respondents, as part of the YouGov commissioned survey, were asked to select the topics of most concern relating to young people including mental health, sustainability, digital wellness, and careers, among others. Financial literacy was the highest selected topic of concern for UK business leaders. The research from EVERFI came in response to comments from UK Prime Minister Rishi Sunak, stating there should be a greater focus on improving and expanding financial literacy in schools.
UK educators do not disagree. Teachers are worried that the young people in their classrooms are not building the skills required to succeed when they leave school. In response to corporate concerns, EVERFI conducted an additional survey of educators that further highlighted this, revealing that 96 percent of teachers are concerned about young people’s current understanding of financial literacy.
“We are at a pivotal moment with both teachers and business leaders expressing these highly worrying concerns,” said Kathryn McColl, Director of Marketing, Strategy, and Impact at EVERFI from Blackbaud “It’s critical that we equip young people with the knowledge and skills necessary to navigate their future lives, including their financial future. Financial literacy is not just a subject; it’s a lifeline. By shaping positive futures for young people, we are strengthening the economic fabric of our society. Businesses and brands have a key role to play in helping us to achieve this.”
Another finding from EVERFI’s YouGov survey was that most business leaders agree that education has the power to transform lives and communities. Despite this, only 54 percent deliver a social impact programme for schools, with almost a quarter saying that they’ve never considered it.
More than 90 percent of teachers see the value in businesses supporting education and that topics businesses invest in should support the development of wider skills – including financial literacy, mental wellbeing, and sustainability – to prepare them to succeed in their futures.
The Money & Pensions Service revealed in a report in 2023 that only 4 in 10 children and young people say they’ve had some financial education at school. Seventy-six percent of 18–24-year-olds, from an independant 2023 YouGov paper, report that they need some kind of assistance to manage their money better.
Blackbaud (NASDAQ: BLKB) through its acquisition of EVERFI in 2021, has doubled down on its focus of empowering purpose-led brands and organisations to achieve their business goals and drive meaningful social impact in their communities through education and employee engagement. With the market’s most comprehensive portfolio of employee engagement software and world-class educational content for schools, organisations of all sizes work with Blackbaud to create social impact through the power of education.
EVERFI from Blackbaud (NASDAQ: BLKB) is an international technology company driving social impact through education to address the most challenging issues affecting society ranging from financial wellness to mental health to workplace conduct and other critical topics. Founded in 2008, EVERFI’s Impact-as-a-Service™ solution and digital educational content have reached more than 45 million learners globally. In 2020, the company was recognized as one of the World’s Most Innovative Companies by Fast Company and was featured on Fortune Magazine’s Impact 20 List. The company was also named to the 2021 GSV EdTech 150, a list of the most transformative growth companies in digital learning. Blackbaud acquired EVERFI in December of 2021. To learn more about EVERFI, please visit everfi.co.uk or follow us on Facebook, Instagram, LinkedIn, or X/Twitter @EVERFI.
Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud’s essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud’s solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek’s list of America’s Most Responsible Companies, Quartz’s list of Best Companies for Remote Workers, and Forbes’ list of America’s Best Employers. A remote-first company, Blackbaud has operations in the United States, Australia, Canada, Costa Rica and the United Kingdom, supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter, LinkedIn, Instagram and Facebook.
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