8 things Philippine HRs should know about workers’ financial stress
Money can’t buy happiness, but low savings on the part of employees can mean low productivity. In other words, it means high financial stress on both the workers and the employer.
SAVii Workplace Intelligence illustrates this problem in its white paper titled Financial Stress, The Quiet Killer.
Conducted from April 2022 to February of 2023, the survey collected responses from Filipino workers—18,922 workers currently working across 14 industries during the survey period, and 3,325 workers who had recently resigned from their jobs across more than five industries.
The article provides insights into the multi-dimensional impact of financial stress not only on individual employees, but on the overall workplace environment. It highlights various factors that contribute to financial stress as well as repercussions of this stress, and potential strategies for employers to enhance employee well-being.
SAVii Workplace Intelligence publications.
SAVii is a benefits platform operating in the Philippines, assisting companies and corporations in delivering financial well-being linked to employees’ salary. In 2022 and 2023, it was awarded as Top Employee Benefit provider by HR Tech Magazine.In its aim of providing the safest, most reliable and convenient financial support, it has disbursed over $100 million in financial assistance since 2017. While SAVii products empower employees, SAVii Workplace Intelligence, meanwhile, is for the HR Community. Through this local research, SAVii utilizes data science and communication expertise to provide strategic advice to HR leaders to move business goals forward.
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