Delta continues its partnership with Operation HOPE to expand opportunities for financially empowering its employees. So far the partnership has been a success. In 2020, program participants noticed an increase in their creditworthiness and a reduction in debt.
“Operation HOPE is all about financial inclusion and empowerment,” said Joanne Smith, EVP and Delta Chief People Officer, in a statement. “This new partnership follows a year of economic downturn caused by the global pandemic and historical differences and injustices. Delta is committed to caring for and investing in financial health resources for our employees. “
Delta’s plan to fill the wealth gap
Delta’s partnership with Operation HOPE could help more employees achieve financial health. For black workers, this opportunity could reverse the trend that is causing black people’s median wealth to drop to zero by 2053.
Established in 1992, Operation HOPE is an Atlanta-based non-profit organization dedicated to eradicating poverty and increasing inclusion. According to the website, the organization is shifting America from civil rights to “silver rights.”
In 2020, Delta received a sample of the services from Operation HOPE. The team worked with a small group of employees. In less than a year, programming and coaching have changed participants’ financial health. The organization reported that participants had an average credit rating increase of 30 points. In addition, participants found an average debt reduction of more than $ 1,500.
Operation HOPE is also working with Delta on their One Million Black Business and Entrepreneur Initiative (1MBB) program. This program will create new entrepreneurs in the Black Community – an opportunity to take one step closer to bridging the wealth gap.
Operation HOPE founder shares the secret of financial health
Last year, Ed Bastian, Delta CEO, hosted Operation Hope founder John Hope Bryant at an employee’s town hall. During this discussion, Bryant shared the power of programming and coaching Operation Hope.
“We are excited to partner with Delta Air Lines to offer a new, comprehensive model of financial coaching for their employees as our first national HOPE Inside the Workplace partner,” said Bryant. “This initiative will not only help employees overcome financial challenges, but also help them achieve their financial dreams
Bryant has worked for decades to educate low and middle income teens and adults through his program. Most of Bryant’s work focuses on economic empowerment and financial dignity. Learning money early in life was the key to success.
“The fact that my mother told me that she loved me every day ensured that I had no problem with self-esteem,” he said on his organization’s website. “The fact that my father was a business owner for 54 years gave me a real example of entrepreneurship. It gave me a sense of both yes, I am and yes, I can.”
Now Bryant is an accomplished entrepreneur, philanthropist, and author. His mission is to give more people access to the tools and habits that made him successful. Operation HOPE’s Hope Inside the Workplace program gives more people access to credit and money management training. The organization will offer Delta employees numerous workshops and individual coaching.
Bryant believes that “if you don’t understand money, you are essentially enslaved.”