New Delhi [India], September 9 (ANI/The PRTree): Corporate Wellness GALF has recently conceptualized numerous initiatives to make "Work From Home" less hectic. They have been supporting corporate clients with Holistic Wellness Solutions including the critical element "Financial Wellness".
There is no denying that due to "work from home" certain kinds of expenses for working corporate salaried employees population have gone down like restaurant and travel expenses, clothing and lifestyle expenses, etc. There is an element of cash saved or stored. The Economists are relating these saved cash reserves, current reduced demand, and eagerness to go out and spend, as potential pent-up demand for the future.
CEO and Founder of GALF, Amit Vasistha hailing from an investment banking background, talks about the possibilities of the pandemic leading the population towards poor financial wellness. He says, " There is euphoric anticipation that as the covid recedes there will be an economic explosion due to people going into a buying spree. Over and above the financial relevance of that anticipation, there is a mention of emotional and mental aspects too."
Vighnesh Shahane, MD & CEO, Ageas Federal Life Insurance and Advisory Board Member of GALF says, "At AFL, our reason to exist, our purpose, is to empower people to create and live the lifestyle of their choice. For an individual to accomplish this, we believe that he or she needs to focus on complete fitness - physical, mental, and financial. For our employees too, we have introduced various measures from a financial wellness standpoint to ensure that they feel comforted and supported during these challenging times, including a timely appraisal process, regular salary disbursement, insurance coverage benefits, etc."
Amit Grover, India Head - Finance Shared Services, Avaya says, "The economic fallout of ongoing pandemic has made it clear that employees must have at least 1 year of expenses as an emergency fund to handle prevalent uncertainties. Financially stable employees are much more engaged than those in precarious financial positions. The organizations that invest in employee financial wellness are more appealing places to work."
Deepak Yadav, Founder -CEO Lounge, says, "I've never been an advocate of an austere way of life, but I strongly believe in staying clued into the happenings around us and taking decisions accordingly. Ideas about living in the moment and doing what pleases you are all great... but unfortunately this is not the right time to get lofty, but staying grounded".
Sumbul Siddiqui, Co-Founder and CEO at Knosh, says as an organization we need to help our employees make informed decisions in sync with their financial situation.
Financial Distress is a top reason for stress amongst corporates and needs to be managed proactively. Conducting regular workshops with counseling sessions by experts, sharing holistic information, training/guidance, and giving them access to financial wellness tools are some of the key elements to be focussed upon. This is exactly what the efficacious team focuses on. GALF as the financial well-being of the employees will result in higher employee engagement and greater levels of productivity in the coming months.
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