Many Filipino employees regularly deal with financial stress. Statistics show that 71% of adult Filipino workers don’t have an emergency fund, 47% borrow money for food, education, medical expenses and emergencies, and 72% resort to predatory lenders.
But while the financial need of every worker differs in nature and is caused by varying factors, what is more important to note is that 60% of these Filipino employees believe that their employers should help them manage their finances. Cebuana Lhuiller Advance is a platform that enables employers to provide on-demand financial assistance to their employees at no cost and no liability to their companies. Companies that sign up to be Cebuana Lhuiller Advance partners will enable their employees to access a portion of their salaries as a revolving line of credit at any time. Users choose from convenient short-term repayment periods, ensuring that repayment transactions are viable.
By providing employees a convenient, fair, and manageable means of dealing with financial problems, companies improve employee engagement, enhance productivity, increase employee retention, and reduce costs.
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Source: BusinessMirror - 🏆 19. / 59 Read more »