Neo lender combats financial stress at work

by Rebecca Pike12 Jun 2018

A neo-lender has launched a financial wellness program to tackle one of the biggest causes of workplace stress: personal financial difficulties.

Wisr's program, Wisr @ Work, will help businesses provide staff with online tools, education materials and debt reduction applications, to help employees take control of their money and improve financial wellness.

According to a Wisr survey of 250 Australians, it was found 48% of employees had experienced stress in the workplace because of their personal financial situation.

Almost 65% said they had experienced feelings of anxiety or panic at work because of money issues, whilst 43% said it impacted their productivity and 35% had been unable to work because of personal financial stress.

Karen Taylor, head of partnerships, Wisr said, “Many employees are unable to properly perform at work because of financial stress. Monetary issues such as mounting credit card debt, inability to meet savings goals or failing to pay bills on time can all contribute to workplace strain.”

The Wisr @ Work program includes online tools that allow employees to better understand their financial position and creditworthiness, customisable debt reduction smartphone apps that automatically pay-down credit card and loan debt and financial education programs.

Wisr also announced a Wisr @ Work pilot program with Australian company Your Wealth Hub.

Your Wealth Hub is an online portal that provides solid and easily accessible financial education and advice to individual employees. Through the partnership it will provide debt consolidation services for its customers.

Gavin Glozier, co-founder and director, Your Wealth Hub, said, “The partnership with Wisr helps to expand our products/service offerings for our members. Wisr has helped us to  ensure every member gains as much understanding and advice options to make the best financial decisions. Our initial launch focused on debt consolidation and we will continue to introduce Wisr products to our members.”


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