Not a lot of companies draw a direct line between the financial well-being of their employees and their performance at work, and this is something that on-demand salary access provider Advance aims to address with their Advance Mag-isip campaign.
The Advance Mag-isip campaign is a series of initiatives that aims to educate and emphasize to the executives and senior management of a company the effects that their employee’s financial stress and financial literacy can have on their company.
“We want to get across to the companies’ stakeholders that their performance as an organization is linked to the performance of their employees, whose quality of work can be affected by financial matters. Hence, helping their employees with their financial concerns is something that should matter to them,” said Jaime Emilio de los Angeles co-founder and CEO of Advance.
De los Angeles shared that four out of five employers report that personal financial issues are impacting their employees’ job performance.
He added that employees who are financially stressed are eight times more likely to be distracted at work, five times more likely to leave daily tasks unfinished, and six times more likely to miss work due to financial problems. All of which leads to a decline in productivity and revenue.
De los Angeles added that employers may not be aware that their employees’ financial stresses affect them as well, which is why they decided to come up with this campaign. They have utilized different channels for their Advance Mag-isip campaign such as social media, webinars, emailers, press releases to media, and paid ads.
The flexible credit platform that Advance provides gives employees access to their salary anytime as a revolving credit line. Since the start of the pandemic in 2020, Advance has helped over 60,000 employees meet their financial needs amid the pandemic. To date, Advance has over 200 employer partners that help financially empower their employees.