Few companies draw a direct line between the financial well-being of their employees and their performance at work. This is something that on-demand payroll provider Advance aims to address with its Advance Mag-isip campaign.
The Advance Mag-isip campaign is a series of initiatives that aim to educate and emphasize to executives and senior management of a company the effects that financial stress and their employees’ financial literacy can have on their business.
“We want to make company stakeholders understand that their performance as an organization is tied to the performance of their employees, whose quality of work can be affected by financial matters. Therefore, helping their employees with their financial problems is something that should be important to them, ”said Jaime Emilio de los Angeles, co-founder and CEO of Advance.
De los Angeles reported that four in five employers report that personal financial issues have an impact on the work performance of their employees.
He added that employees who are financially stressed are eight times more likely to be distracted at work, five times more likely to leave daily tasks unfinished, and six times more likely to be absent from work due to financial issues. All of this leads to lower productivity and lower income.
De los Angeles added that employers may not be aware that their employees’ financial constraints also affect them, which is why they decided to launch this campaign. They used different channels for their Advance Mag-isip campaign, such as social media, webinars, emails, press releases to media, and paid ads.
The flexible credit platform provided by Advance allows employees to access their salary at any time in the form of a revolving line of credit. Since the onset of the pandemic in 2020, Advance has helped more than 60,000 employees meet their financial needs amid the pandemic. To date, Advance has more than 200 employer partners who provide financial assistance to their employees.
For more information on the Advance Mag-isip campaign and to find out more about Advance and its initiatives, you can visit www.advance.ph or get in touch with them via [email protected]
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