SAVii discusses how they strengthen a financially stable workforce in the construction industry, at the PCA’s first hybrid General Membership Meeting
August 22, 2023
The Philippine Constructors Association, Inc. (PCA) held its first hybrid general membership meeting in two years on October 27th at the Discovery Suites in Ortigas, an event made possible with the support of SAVii.
Liam Grealish, CEO and founder of SAVii, was a featured speaker at the event to discuss data from SAVii Workplace Intelligence that illustrates the value of financial wellness benefits for construction employees. According to this data, 28% of employees in the Philippines are among those who are highly or overwhelmingly stressed about their financial situation, and 80% of employees in the Philippines declare themselves “stressed about their financial situation”.
According to a case study with its largest construction partner client, over 25% of its employees have utilized SAVii services since the beginning of their partnership. “Most employees are not prepared for unforeseen events like medical expenses, home repairs, and the impact of rising inflation.” Grealish said. “Our team works to unlock financial power at work by giving access to safe and reliable financial services that are unavailable on the open market.” SAVii is a salary linked employee wellness platform currently supporting over 420,000 employees across the country. “An innovation we are really proud of is a solution for blue-collar and part-time employees. Our offering has no cost to employers, protects the business from liability, and doesn’t place additional administrative strain on the HR team.”
Grealish explained to the gathering. “We accomplish this by providing employees with free (health,COVID, and accident) insurance, a salary loan option customized to their situation, financial literacy training, and wellness care through our free mental health programs, which include expert 1:1 counseling that they would not typically have access to,” Grealish continued.
With a debt-to-income ratio of 25%, a 50% net take-home pay guarantee, and dashboards to track employee financial behavior, SAVii further promises to minimize employee over-indebtedness. SAVii was established to assist hardworking Filipinos who do not ordinarily have formal credit options. The platform is now altering the landscape of employee wellbeing by boosting morale and motivation across over a hundred corporations. The team is proud to contribute to nation building through their ongoing efforts to support construction industry employees.
SAVii can help you integrate comprehensive employee financial wellbeing into your benefits program. Email them at [email protected] to set up a meeting.
About Philippine Constructors Association
To help the Philippines rebuild after the Second World War, nine Filipino businesses came together and founded the Philippine Constructors Association (PCA) 75 years ago. Intending to make its members competitive on a global scale through cutting-edge technologies and business expertise while fostering the highest ethical standards, PCA is a change agent for the construction industry. The group works to develop nations, which benefit its own, the Filipino people, and the rest of the world. To find out more, go to their website
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 protected] or find out more at https://savii.io/ph.