We specialise in the financial side of wellness with extensive background in the financial industry and an understanding of the stresses employees go through, and how these can influence employee productivity.
We do financial wellness programmes in Johannesburg, Pretoria, Centurion and the surrounds.
Many large Corporations and State Owned Enterprises (SOEs) have internal Employee Wellness programmes. These include the education of employees of the risks involved in bad habits, including drugs, liquor, smoking, food abuse and of course financial debt excess, while providing advice in how to combat these perils, sometimes using external specialists.
It is well known that without financial wellness there cannot be physical, mental or spiritual wellness.
Being financially well is therefore the cornerstone of personal WELLNESS ! However, it is seldom that an employee will volunteer that they have a financial challenge and seek the assistance of the Wellness Coordinator at the place of work because that may well reflect badly on the employee. Many times there are extenuating circumstances leading to the current debt scenario so it is best not to judge.
Many employers do try to help internally with additional loans etc. but the real answer would be to employ a reputable debt counsellor to assess and assist the employee/s. This may not result in debt review but would result in relevant and good advice being proffered. At least a budget could be structured to assist in the implementation of the commitment to do something about the debt burden.
It is therefore important that the employers begin to recognise the signs of an employee under duress. Financial distress leads to a change in the personality of the employee and this affects the relationship with family, friends and co-workers. Absenteeism rises – sometimes as a result of lack of money to pay for transport to get to work, sometimes due to drug and/or alcohol abuse, tempers are short, withdrawal is common place. It is important that these changes are noticed before the inevitable breakdown occurs.
Both management and co-workers should be looking out for any signs in the change in the personality of their co-workers so that they can be identified and be assisted back to a stable financial footing. A debt counsellor is perfectly positioned to assist in all aspects of this recovery regime.
In terms of the National Credit Act no employee/consumer may be penalised through being under the debt review programme. It is illegal to penalise anyone who is on the programme.
Many employees try to extricate themselves from the debt mire by approaching money brokers. Money brokers unless licensed with the Financial Services Board are of course operating illegally and because they are illegal any monies lent cannot be claimed back there being no force in law and the borrower cannot be sued for repayment in a Court of Law.
It is also illegal for money lenders and other financial institutions to demand the credit cards of borrowers and obtain their pins through once swiping the card and using this information to debit the borrowers bank account ad nauseaum. It is of course illegal for credit cards to be held by the lender at any time.
Including financial wellness into your staff corporate wellness programmes
Staff with a good sense of well-being about themselves, and positive outlook are a benefit to companies. Financial wellness is an essential aspect to promoting employee wellness, to create productive and proactive environments, with staff who can become assets to the company instead of a frustrations. Having wellness sounds attractive, but life however gets in the way, with hurts, financial stresses and interpersonal relationships taking away from the sense of well being. As a company, you have the power to invest in the employees, and train them not only in the allocated job description, but also valuable life skills such as conflict management, financial wisdom and more, in a wellness programme that is in tune with your company goals.
A good wellness programme includes personal health, financial stability, interpersonal relationships, psychological health and skill level / ability of the person.
Financial wellness follows through to total wellness. Reducing financial strain through educating employees on how to budget, how to set financial goals and realistic expectations of how far their salaries can carry them, helps them to use their money wisely, avoid debt or remove current debt which can be debilitating to and employee.
Understanding debt, how to get out of debt, understand vital terminology, and how to budget can revolutionise the employee’s sense of well being which has a direct impact on their productivity levels.
A financial wellness programme could be part of the company’s induction system. With all the time and resources spent on training new employees, it hurts the company when they jump to a new prospect, purely because of increased salary. More money often means more expenses and looking for a higher paying opportunity once again. Stop this cycle with a solid financial planning, debt counselling and budgeting training, and saveon unnecessary costs to your company.
Included in a wellness programme is the physical, psychological and financial wellness
Employee personal assessment of general well being.
Daily eating, exercise and relaxation habits
Screen addictions which cause sleep deprivation.
Affect of alcohol consumption
Understanding biometric indicators including BMI (body mass index), blood pressure, cholesterol levels
Understanding of general cleanliness and infection risk
How to budget, how to save and how to pay my bills
What to be aware of e.g. advertising which increases spending
In debt? Debt counselling by a registered debt counsellor.
Understand debt consolidation
How to avoid debt
How can having debt help you
Factors influencing employees not seeking financial help:
Embarrassment that they are in debt
Avoidance – what I don’t see won’t hurt me
Lack of understanding
Opportunity – not knowing who to talk to.
Employee financial wellness programs are a great asset to a company, helping you retain staff longer by preventing job-hopping, and for them to feel safe.
All information is kept confidential, and interactions regarding their personal debt / financial needs are kept confidential. Programmes are structured according the staff needs and at a level which they understand.
Peter from Killaghy Business Solutions, is a registered debt counsellor, with many years of banking experience and a thorough knowledge of financial needs.
Address: 4 Ash Road Bryanston
Killaghy Business Solutions are Registered Debt Counsellors
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Debt counselling and debt reviews Midrand
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The first step to get started is to complete our application form. Download the form below, complete it and mail it back to us.