Please Call Me
Employee Financial Wellness Solutions
If you run a business or are involved at a middle to higher level of management, you will almost certainly be more than aware of the negative impact that debt has on a company's workforce and how devastating it is for the affected employees.
You may wonder how your bottom line is adversely affected by employee debt issues:
It goes without saying that this situation is undoubtedly bad for general employee morale. However, workforce debt also harbours serious problems for your business and when left unchecked, it could have devastating consequences. Let us explain in more detail. Employee's suffering under the crushing burden of debt, hit a business hard and where it hurts most – its bottom line. An employee struggling with debt is embarrassed, preoccupied and in most cases demotivated. Their low morale rubs off on those around them, lowering the general morale of co-workers too. Elevated employee stress levels will almost certainly result in poor productivity, absenteeism, stress-related illness, as well as possible debtor court appearances, harassment by creditors at work and in all likelihood other legal issues too.
As the situation continues to spiral out of control, there is an ever increasing need for employee loans and advances against wages, salaries, pension or provident funds which all invariably increase the debt cycle as well as putting more strain on company finance and its resources. With the economic climate as it is, the impact of debt is compounded and it is therefore absolutely essential that companies act quickly in displaying empathy and finding effective solutions in all matters relating to the well being of their employees’, not only for their employee's sake but ultimately for their own bottom line.
Let’s keep walking down the road of employee debt shall we? As employees depend more and more on the company for financial assistance, the effort involved in servicing these loans by its employees and the strain on company resources increases too. To make matters worse, affordability issues arise for the employee when ‘forced’ deductions occur, leaving the employee employer working relationship in tatters. All employees are at risk of allowing debt to become an uncontrollable burden. That unfortunately is a fact of life even when the economy is booming. At ProDC we help people stop the spiral and start reversing their indebtedness. It is our aim is to keep them debt free by empowering the individual to take back control over their financial well being. Education and awareness are key to long term sustainable financial well being and we propose the following two pronged course of action be taken:
- Awareness program – Employees must be made aware of the dangers of debt and of the potential solutions available to them. This can be done by placing informative posters around the workplace, by sending internal educational emails highlighting the risks, the signs, the symptoms and finally by drawing attention to ProDC’s contact details and website links.
- Education Program - Education is power and by making employees aware of debt and its effect on their lives, you will not only be saving some from the debt experience, but offering those that are already in debt the road to recovery. We offer on-site training and counselling to employees of all skill levels. Ultimately, what we offer are effective solutions to everyday debt issues.
With ProDC at your side, we can protect and improve the emotional, financial and social welfare of your employees by educating them, offering them alternative routes out of debt, informing them of their legal rights, helping them budget and finally, by keeping them aware of their options regardless of their current position.
All our Debt Counsellors are qualified and registered with the National Credit Regulator (NCR).
Please contact us for a tailored Employee Financial Wellness program and action plan that will benefit both your company and your employees.
