(Makati, 24 Nov 2022) Ice Mangcoy, the Chief People Officer of SAVii, presented strategies to reduce the business impact of employee financial distress during the annual assembly of Philippine HR experts and leaders in the field of people management.
The HR industry’s global voice is represented by the Philippine HR Assembly, in its fifth year, the organization continues to take the lead in advancing the HR profession through an inter-industry collaborative mindset.
Mangcoy emphasized HR’s objective to provide income to employees and their dependents to improve their quality of life through work. In addition to providing an environment where individuals can learn more to improve their careers to support their life goals, all HR teams understand the crucial responsibilities of benefits like Health and Medical plans that safeguard employees and dependents. In recent years, mental health assistance, retirement funds, and more specific financial benefits have become increasingly valuable to employees and are now vital to the benefits process.
Health, wellness, and a company’s bottom line are all directly impacted by financial stress in people. Even prior to the pandemic, SAVii research revealed that Filipino workers experience high levels of stress and unhappiness as a result of their financial situation.
“At SAVii, we think that employment is a strong collateral to support underserved individuals on their road to increased financial inclusion. We also believe that employers have a clear financial incentive to offer their employees a complete range of financial services as employee benefits in addition to their social responsibility in this process, “Mangcoy explained.
Financial wellness is not just an HR issue; it also has an impact on the business’s finances and the connections with its own customers. By providing employees with the correct resources and opportunity, employers help them create better lives for themselves in and outside of the workplace.
On the first day of the conference, Mangcoy conducted a poll, asking participants to describe the employee benefits that are currently offered by their company. Although it is comforting to see that most companies offer the foundations of employee benefits, SAVii also discovered that a sizable portion still do not have dedicated financial well-being programs. To respond to real needs and to reduce workplace stress brought about by inflation and events outside of an employee’s control, Mangcoy suggested an update to total rewards strategies that benefit from a reliable and inclusive financial support partner like SAVii.
Mangcoy concluded her talk by showcasing how SAVii has improved the workplace wellness of approximately 500,000 employees of its partner firms. “SAVii’s platform is easy to incorporate into existing payroll systems and has no fees or obligations to employers. There are no overhead charges or additional costs, which frees up your operating money. Along with creating rewarding jobs, we also strengthen the workforce and the nation “.
SAVii now recognizes the immediate and urgent need to level up, enabling businesses to better look after their employees and lower the dangers that could impair their company’s productivity and success.Your benefits program can be more comprehensive for your employees’ financial well-being with SAVii’s assistance. Send them an email at firstname.lastname@example.org to schedule a meeting.
About Philippine HR Assembly
The largest online learning community in the country for HR leaders and professionals across industries is the Philippine HR Association (PHILIPPINE HR ASSEMBLY). The International HR Institute’s (IHRI) strategic imperatives and Circa Logica Group, the top HR firm in the Philippines, were combined to establish it. Visit their website at https://philhrassembly.com/about/ to learn more.
SAVii is the category leader in salary linked financial services. Our 100+ corporate employer partners get data insight that can help manage attrition and unlock engaged, productive employees. We support over 420,000 employees with safe, convenient, and affordable loans, advances, and mental health support. Connect with us on email@example.com or find out more at https://savii.io/ph.