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What is Financial Assistance for employees?

Financial assistance for employees in South Africa refers to the support provided by employers to address the financial concerns of their employees or their family members. It involves offering consultations or guidance to employees who may be facing financial challenges, such as managing personal finances, debt management, or accessing appropriate financial products and services. 

This assistance aims to improve the financial well-being of employees, reduce financial stress, and enhance their overall productivity. Employers may provide access to financial education programs, facilitate discussions with financial advisors, or connect employees with relevant financial resources and services available in South Africa.

financial assistance

Benefits of Financial Wellness Programs

    • Increased Productivity
      Employees exhibit reduced distractions & enhanced capacity to maintain focus on organizational goals.
    • Decreased HR Costs
      There is a decrease in garnishments, fewer requests for pay advances, and reduced reliance on assistance programs among employees.
    • Decreased Theft
      Instances of theft, driven by desperate circumstances rather than malicious intent, such as borrowing money to cover expenses
    • Decreased stress related illnesses and absenteeism
      including issues related to substance abuse, accidents, & a higher frequency of tardiness among employees.
    • Increased ability to communicate & cooperate,
      heightened ability to receive and follow instructions from supervisors.

Get Comprehensive Financial Assistance at MantraCare, South Africa

Bankruptcy

1. Bankruptcy

Helps employees navigate financial difficulties and develop strategies to avoid bankruptcy.

Budgeting

2. Budgeting

Helps employees create & manage budgets to effectively track & control their spending

Retirement planning

3. Retirement Planning

Comprehensive retirement planning , create a roadmap to secure financial future

Major life event planning

4. Major life event plan

Financial advice & planning for significant life events such as weddings, adoptions, & divorces.

Credit card debt

5. Debt Management

Aids in lowering interest rates & consolidating debt, providing strategies to regain finance control

College fund planning

6. Fund Planning

Assists in developing customized plans to save for events such as child education, buying home, etc.

Live Reporting of your Employee's Financial Prudence

At MantraCare South Africa, we provide live reporting on your employees’ financial stability and how they are benefiting from financial assistance. Our comprehensive tracking system allows us to:

  • Monitor their financial milestones, such as debt reduction, savings growth, and improved credit scores.
  • Regularly assess their progress and provide personalized feedback and guidance to ensure they are on track toward their financial goals. 
  • We empower our employees to see tangible results, ultimately fostering a sense of financial well-being and motivation within your workforce.
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We are trusted by top companies in South Africa

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MantraCare has its presence in major cities in South Africa

South Africa Office:

location

80 Strand Street Cape Town 8001, South Africa

MantraCare has been offering financial assistance plans to companies in South Africa for the past 10 years. We have presence in all key locations in South Africa including Aan de Doorns, Aberdeen, Aberfeldy, Abbotsdale, Acornhoek, Adendorp, Addo, Aggeneys.

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