Avangrid Joins JUST Capital and PayPal’s Worker Financial Wellness Initiative
06 Marzo 2024 - 10:05AM
Business Wire
Company continues to prioritize employees’
financial security and health with its diverse benefits portfolio
including leading 401(k) employer match, paid parental leave, and
student loan repayment program
Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company
and member of the Iberdrola Group, is continuing to prioritize
their employees’ financial security and health by joining The
Worker Financial Wellness Initiative by JUST Capital and
PayPal. The Initiative, established in collaboration with the
Financial Health Network and Good Jobs Institute, offers resources
to help companies assess and improve workers’ financial health.
“We want to be a company that attracts top talent to build
long-term careers,” said Pedro Azagra, Avangrid CEO. “We do this by
not only helping our employees grow professionally, but also
supporting their well-being. The Worker Financial Wellness
Initiative will cement us as a benefits leader and help us continue
to enhance our programs and resources.”
The Worker Financial Wellness Initiative was launched in 2020
and engages directly with corporate leaders to promote the business
value of financial health investment and empower them to perform
worker financial health evaluations. Today, the initiative includes
companies such as Chipotle, Chobani, Even, Prudential Financial,
Synchrony, and Verizon, representing one million American workers.
Since joining the initiative, participating companies have expanded
and enhanced benefits, increased wages, created new ownership
opportunities, and more.
Joining this initiative builds upon Avangrid’s commitment to
caring for its people by providing diverse, equitable, and
inclusive benefits that focus on their total health—physical,
emotional, mental, and financial. This includes providing a leading
401(k) employer match, paid parental leave, comprehensive employee
assistance program (EAP), and fertility and family forming
benefits. Avangrid has also continued to expand its holistic
benefits package by recently launching new programs such as a
student loan debt repayment benefit, an emergency savings program,
and mandatory financial training.
“Now is the right time to take our benefits to the next level by
focusing on individual wellness,” said Kyra Patterson, chief human
resources officer at Avangrid. “By leveraging data, we can take a
more granular and personalized approach to the benefits we offer to
take care of our employees. The Worker Financial Wellness
Initiative will help us take this next step by leveraging research,
tools, and a diverse network of subject matter experts dedicated to
optimizing employee health and well-being outcomes.”
Tolu Lawrence, Chief Impact Officer at JUST Capital, an
independent nonprofit dedicated to demonstrating how just business
– defined by the priorities of the American public – is better
business, noted that Avangrid’s participation in this insightful
network of executives is monumental.
“Our polling of the nation’s public shows time and again that
Americans of all backgrounds want CEOs to prioritize investing in
workers,” said Lawrence. “And our research shows that companies
that prioritize the well-being of their workers out-perform those
that don't. Avangrid is on a journey that will not only deeply
impact the lives of its workers, but also has the potential to
inform the trajectory of the energy industry at large. We look
forward to welcoming them into the network and collaborating with
our partners to drive impact with Avangrid and for its
workers.”
Sarah Kalloch, executive director of The Good Jobs Institute
echoed the sentiment, saying, “Research has shown how meaningful
investment in employees can create productive, engaged, and
motivated workforces that not only create better lives for workers,
but also deliver real, sustained value for customers and
shareholders. We are excited to support Avangrid on this
journey.”
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be
the leading sustainable energy company in the United States.
Headquartered in Orange, CT with approximately $44 billion in
assets and operations in 24 U.S. states, Avangrid has two primary
lines of business: networks and renewables. Through its networks
business, Avangrid owns and operates eight electric and natural gas
utilities, serving more than 3.3 million customers in New York and
New England. Through its renewables business, Avangrid owns and
operates a portfolio of renewable energy generation facilities
across the United States. Avangrid employs approximately 8,000
people and has been recognized by JUST Capital in 2021, 2022, 2023
and 2024 as one of the JUST 100 companies – a ranking of America’s
best corporate citizens. In 2024, Avangrid ranked first among
utilities and 12 overall. The company supports the U.N.’s
Sustainable Development Goals and was named among the World’s Most
Ethical Companies in 2024 for the sixth consecutive year by the
Ethisphere Institute. Avangrid is a member of the group of
companies controlled by Iberdrola, S.A. For more information, visit
www.avangrid.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240306122838/en/
Media: Sarah Warren, Avangrid sarah.warren@avangrid.com
585-794-9253 Marguerite Ward, JUST Capital
mward@justcapital.com
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