Debt solutions for your employees
Employee debt impacts employers negatively
Financial education advocates point to three primary places to reach those who need help with their money: in schools, the point of sale, and at work. A debate rages over the first two. But efforts to educate employees at the office are spreading fast.
Here are some signs that your employees may be suffering from too much debt:
• Increased garnishee orders on employee salaries (plus increased payroll admin)
• Demands for higher salary increases
• Stress, illness and absenteeism
• Broken relationships in the workplace
• Late coming, lack of motivation and lower productivity
• In extreme cases – theft
• Increased attrition as employees search for higher paying jobs
• Increased resignations as employees attempt to get cash from provident funds
Debt Counselling is the BEST solution for over-indebted employees
Over-indebted employees require urgent help and intervention with their credit providers to avoid legal action and to save their assets from repossession. When employees are stressed financially, their health and productivity can both suffer. Fortunately, organizations can ease some of that stress by helping employees manage their personal finances.
Benefits of debt counselling:
• Immediate increased cash flow for living expenses
• No more credit provider harassment at work
• Improved well-being and reduced stress, illness and absenteeism
• Happier relationships at home and in the workplace
• Improved time-keeping, increased productivity and motivation
• Fewer loan requests or pay advances
• Decrease in theft, attrition and resignations
• Fewer demands for excessive pay increases
Furthermore when individuals start getting on top of their debt they start to see the benefits of budgeting and start planning for future financial health.
DebtSorted HAS A SOLUTION for YOUR employees
• Often employees are too embarrassed to admit they are struggling with debt
• They may not be aware of debt counselling as a solution for their debt
• DebtSorted offers co-branded Employee education through your existing employee communication channels
• DebtSorted provides employees with a direct and anonymous channel to obtain a free credit report and debt assessment without them having to take time off work.
For further information contact 072 317 6270
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