Case Study

Kiva Doubles Savings Rates for 50% of Employees Through Retiremap iPad Workshops
Empowering employees for a secure future
As the rst organization to enable people to lend to entrepreneurs in developing countries over the Internet, Kiva has a history of innovation. To date, Kiva has lent over $434,000,000 to entrepreneurs from Peru to Tajikistan with a loan repayment rate of 99%. With a mission to alleviate poverty by connecting people through lending, Kiva has a unique organizational focus on transparency and empowerment. By enhancing its 401(k) plan education to be more relevant for its younger, techoriented workforce, Kiva decided to take an innovative approach to helping employees reach their nancial goals, including saving for a secure retirement. With Retiremap, Kiva created a program that combined today's technology with a process developed with leading behavioral economist Dan Ariely, to measurably improve employees savings rates.

Kiva Microfunds, Inc. San Francisco, CA kiva.org Results

50% of the 30

employees who attended an iPad workshop decided to double their deferral rates 39% of all engaged employees wanted to meet the plan advisor 12 page employer report detailing engagement, behavior change, retirement readiness and nancial wellness 76% of employees felt more engaged with their retirement plan

Engaging with today's technology + behavioral economics

With a young employee population, Kiva's HR staff knew that focusing on retirement would not resonate. Instead, the Empower Your Finances campaign, powered by Retiremap, employed behavioral economics and a nancial planning process used by the Financial Planning Association to make plan education more relevant by asking employees: "Do you know if you're on track to reach your nancial goals?" By using iPads in onsite workshops, every attending employee got to use Kiva's custom Retiremap app to do a goal-based retirement assessment and get a holistic Starter Roadmap. Those employees who did not attend an onsite workshop were sent an email activation link announcing the campaign's launch and 14.3% signed up.

Challenges
Younger, geographically

distributed workforce
Making saving relevant

Approach
Onsite iPad workshops Email activation links Custom website Financial planning

webinars
Targeted emails based

on employees goals

Screen captures from Retiremaps web and tablet based platform.

Doubling employees savings rates

By using an engagement process and workshop format based on best practices in behavioral economics, Kiva not only better engaged its employees, with 40% participating at the launch of the program, but also improved savings rates. Of the 30 employees that attended the iPad workshops, 50% decided to increase their savings rate an average of 6.3% of pay. Additionally, 50% of workshop attendees requested to meet with the plan advisor to discuss their nancial goals and investment strategy. It was important to Kiva that the launch be followed up with ongoing, targeted communication, so Retiremap set up a dedicated employee website, as well as designed a targeted communications campaign emailing educational articles from the Financial Planning Association to employees, based on their nancial goals.

About Retiremap
RetiremapHQ.com San Francisco, CA Retiremap enhances

401(k) plan education for plan sponsors by engaging employees with todays technology, while measurably improving retirement readiness and nancial wellness. Unlike plan providers, Retiremap is independent with no investment agenda, employs goal-based nancial planning as used by the Financial Planning Association and helps make plan advisors more productive.

Delivering transparency and measuring impact

For a data-driven technology company that publishes the number of new loans made each week (33,465) and seconds between each loan made (8), measuring success metrics for its new plan education efforts was critical. Retiremap was able to measure key metrics like retirement readiness (39.5% got a green light), top nancial goals (68% want to buy a home) and nancial stressors (18.4% had some credit card debt).

Page captures from Kivas Performance Report measuring Retiremaps impact.

Retiremap also made better use of the advisor's time by providing access to employees' data and deliverables for use in private, one-on-one meetings, leading to more meaningful discussions and greater impact.

Retiremap is the best full-service program we've seen for engaging employees and measurably improving their savings rates. Our employees love it and the data Retiremap generates introduces accountability into our plan education efforts. - Britt Huber, Vice President, Human Resources, Kiva
Using Retiremap has enabled Kiva to enhance their 401(k) plan education by better engaging employees, helping them save more to reach their nancial goals and then measuring the impact of their education efforts. For a company dedicated to retaining employees and increasing their satisfaction, these improvements are signicant.

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