Evolutionary Awards – NMG Benefits: Financial Wellness

Category: Evolution in employee benefits and advice

Describe your evolution:

NMG Financial Wellness: Protecting Employees, Empowering Futures, and Enhancing Workplace Wellbeing

In today’s challenging economic climate, the financial health of employees is more critical than ever. South Africa’s ongoing economic struggles have left many workers vulnerable to exploitation by unscrupulous credit providers, unethical debt collectors, and misleading financial products. These challenges not only strain the financial stability of employees but also impact businesses through increased absenteeism, low morale, and decreased productivity. Recognising this urgent need for intervention, NMG Benefits has partnered with EmpowerFS to offer a revolutionary Financial Wellness solution – designed to shield employees from financial exploitation at no cost to either the employer or the employee.

Why Choose NMG Financial Wellness?

At NMG Benefits, we believe in the power of combining technology with hands-on counseling to provide comprehensive support to employees facing financial challenges. Our partnership with EmpowerFS enables us to deliver a robust Financial Wellness solution that offers the following key benefits:

Protection from Unscrupulous Credit Providers: Our solution safeguards employees from the predatory practices of reckless lenders who trap them in cycles of debt. By providing access to expert advice and guidance, we help employees avoid costly financial mistakes and unnecessary loans.

Defense Against Unethical Debt Collectors: Employees often fall victim to debt collectors who employ unethical tactics to inflate their fees and exploit their vulnerabilities. Our solution defends employees by challenging these practices and ensuring they are treated fairly.

Advice on Suitable Credit Options: Making informed decisions about credit is essential for financial stability. We provide employees with personalized advice on the most suitable credit options, helping them make choices that align with their financial goals and capabilities.

Zero-Interest, Zero-Fee Emergency Cash Assistance: In times of crisis, access to emergency funds can be a lifeline. Our solution offers zero-interest, zero-fee emergency cash assistance, providing immediate financial relief without the burden of additional costs to the employer or employee.

Cost Savings through Insurance Consolidation: Many employees are over-insured, paying for multiple credit life or funeral insurance policies that offer overlapping coverage. Our solution helps employees consolidate these policies, reducing their financial burden and saving them money.

Enhanced Financial Literacy: Empowering employees with financial knowledge is at the core of our solution. We offer educational resources that improve financial literacy, enabling employees to make better, more informed financial decisions that benefit them in the long run.

Seamless Integration and Effortless Access

One of the standout features of the NMG Financial Wellness solution is its seamless integration into the workplace. Employees can connect directly with the service through WhatsApp, making it easily accessible and convenient to use. Once connected, EmpowerFS handles all aspects of the service, from providing expert financial advice to managing the consolidation of services.

What sets our solution apart is that it comes at no cost to the employer or the employee. Compensation for EmpowerFS is derived solely from the consolidation of existing services into more efficient and cost-effective alternatives. This ensures that the financial wellbeing of employees is prioritized without adding any financial burden to them or their employers.

Additionally, our solution can integrate directly with employers payroll system, automating the provision of payslips and other relevant documents. This not only enhances the efficiency of the service but also alleviates the administrative workload for HR personnel, allowing them to focus on more strategic tasks that contribute to the overall success of the business.

Describe the impact your evolution has had in response to its identified challenges and targeted outcomes.

Better Financial Health, Better Workplace Performance

The NMG Financial Wellness solution is more than just a financial support service—it’s an investment in the wellbeing of your employees and the future success of businesses. By protecting employees from financial exploitation and empowering them with the tools and knowledge they need to make sound financial decisions, we create a healthier, more productive workforce.

In conclusion, NMG Benefits’ Financial Wellness solution is a game-changer for businesses looking to enhance their employee support offerings without incurring additional costs. By partnering with EmpowerFS, we have created a solution that not only addresses the immediate financial challenges faced by employees but also equips them with the knowledge and resources they need to achieve long-term financial stability. This innovative approach to financial wellness is a testament to our commitment to #FindingABetterWay and delivering real value to both our clients and their employees.

Supporting Documentation >