Financial Wellness as a term has gained significant traction recently. From the definition perspective, Financial Wellness is the process of planning and managing one’s finances (expenses) in such a way that he/she do not have financial issues under any circumstances. It depicts the financial health or financial well being of an individual. As per the PWC Financial Wellness Survey, 2018, 54% of the Employees are stressed because of Finances. Financial insecurity is steadily increasing at the modern workplaces, directly affecting productivity, attrition, and loyalty.
A stressed Individual who is Financially Insecure may be suffering from the following symptoms:
- Losing sleep over financial worries inevitably affecting his physical health
- Failing to pay bills on time affecting his credit score
- Inability to save for emergencies
- Decreased productivity and quality of work due to incessant financial pressure
The increased levels of stress and decreased productivity can start affecting an organization’s overall profitability. As an employer, it becomes very important to start promoting and facilitating financial wellness in the workplace. They should look for Partners who can provide Financial Wellness related products, provide coaching and guidance to employees around managing the finances optimally and achieve financial freedom. The result will be productive and happy employees who will then help your business grow leaps and bounds.
Employees are the biggest asset of an organization and it is the employer’s foremost duty to keep them happy and motivated. It is rightly said that “Take good care of your employees and your employees will take good care of your business”
With the aim to support an organization’s financial wellness objectives, Phocket’s Instant Advance Salary Program (https://phocket.in/phocket-instant-advance-salary-program) is tailored to cater to the financial needs of the employees and promote financial wellness. Phocket helps your employees get easy and instant cash very conveniently over a mobile app and can manage the employees need for urgent cash. Phocket can help an organization in the following ways -
- Fulfill the paucity of sudden funds faced by employees because of Medical Emergency, Credit Card, EMI, School Fee, Rent Payments, Traveling and Shopping, Festival Celebration, Two Wheeler Down Payment, etc)
- Convenient for Freshers and new joinees (Relocation, Security Deposit, Brokerage etc.)
- Hassle Free Official Travel without worrying about Reimbursement
- Reduced Interest rate of 2% per month (calculated on daily basis) and Very Relaxed Credit Worthiness Checks with instant approval and disbursement
- Employee welfare without incurring any extra cost with zero liability of recovery on the organization
- Enhances overall hygiene factor of the organization and Happiness Quotient of Employees
Phocket provides instant loans to salaried professionals in an easy and hassle-free manner. The loans range from Rs. 5,000 to Rs. 1,00,000 for a period of 7–45 days for all purposes whether its an emergency or you just want money for celebrations. Along with availing loans, you can also find exclusive offers and deals at Phocket too!
Know more here: https://phocket.in
Download the app: https://app.phocket.in/cash