On November 6, 2019, Seedco’s Executive Director Tara Colton spoke in Philadelphia at ‘Business Innovations for the Future of Work,’ a summit organized by the Federal Reserve Bank of Philadelphia, Drexel University, the City of Philadelphia, and the Chamber of Commerce for Greater Philadelphia.
November 11, 2019
Tara spoke on a panel titled ‘Measuring ROI: The Real Cost to Employers,’ along with speakers from Burning Glass, the Federal Reserve Bank of Philadelphia, and Drexel University. Tara’s remarks highlighted Seedco’s partnership with Social Finance to launch new financing models to boost employee retention and reduce turnover costs.
The basic premise of Seedco’s model is that workers quit, stop showing up, or are fired for reasons that have nothing to do with their job, such as housing instability, unreliable child care, or transportation challenges. Under this new financing model, Seedco will contract with employers to provides long-term case management for workers. Partner employers will foot the bill, rather than rather than just government or philanthropy, as Seedco reaches outcome milestones. Individual participants will get the supports they need to advance along a career pathway, partner businesses will save on costs related to turnover, a significant and prevalent problem for businesses, and the revolving door will slow down.