SAVii

Financial wellness initiatives, which were initially conceived as feel-good perks, have rapidly evolved into substantial contributors to overall employee well-being. In this regard, SAVii is an innovative platform that provides salary-linked financial services to HR leaders, to contribute to team members’ personal and professional development.

The platform has become a fundamental support system for the enterprise workforce across industries in the Philippines, including information technology (IT-BPO), manufacturing, and logistics. Throughout 2023, SAVii navigated challenges, seized opportunities, and achieved significant milestones, solidifying its position as a prominent player in the employee wellness landscape.

“2023 brought unprecedented challenges like inflation and dynamic geopolitical tension for businesses worldwide, especially in the Philippines,” says Liam Grealish, CEO and co-founder at SAVii. “However, we took it as an opportunity to showcase our resilience and commitment to support Filipino employees.”
Employers can seamlessly integrate the platform into their payroll systems without incurring extra expenses, making it a beneficial choice for them amidst the current financial challenges. In addition, 2023 witnessed an exponential increase in customer engagement, with over 23,000 employees actively engaging in the annual survey that measures customer wellness. This enabled SAVii to evaluate customers’ status and provide contextual insights for its business growth in a landscape renowned for limited survey responses.

This heightened engagement was more than just a numerical triumph; it catalyzed meaningful research in the HR domain. SAVii capitalized on this interaction, using it as the foundation for research papers that delve into critical aspects of employee well-being. The forthcoming white paper will examine the correlation between employee engagement and financial stress, promising to be a valuable addition to contemporary workforce dynamics.

A Holistic Approach to Employee Well-being

SAVii focuses on transforming employee wellness by providing salary-linked financial services, such as affordable loans, advances, and financial education. By recognizing the imperative for formal lending solutions, irrespective of an employee’s credit history, the platform’s team prevents them from resorting to predatory lending sources.

Its suite of services encompasses a range of financial solutions designed for customer’s safety, convenience, and affordability. Operating without exposure to risk or obligation for employers is a protective measure for employees and companies. In addition to improved financial health, clients have observed an increase in morale, motivation, and overall well-being among their employees after implementing SAVii’s services. The platform also offers a salary loan option, with interest rates starting at 0.5 percent and terms ranging from one to sixty months. It focuses on transparency, offering constant visibility on loan applications and repayment updates provided via an employee’s dashboard.

SAVii also addresses the broader financial challenges faced by employees. The team behind the platform acknowledges the emergence of financial services that capitalize on employees’ emotional impulses, notably the “buy now, pay later” (BNPL) promotions. The platform responds to these trends by providing immediate financial assistance and long-term support, assisting employees in becoming financially resilient.

2023 brought unprecedented challenges like inflation and dynamic geopolitical tension for businesses worldwide, especially in the Philippines. However, we took it as an opportunity to showcase our resilience and commitment to support Filipino employees

A Year of Achievements and Milestones

2023 marks a period of learning and adaptation for SAVii in response to external challenges, such as adverse weather patterns and global economic instability. Notably, when the Philippines experienced 8 percent inflation, the platform demonstrated its commitment by supporting partner employees and customers with cost neutral support.

SAVii’s proactive approach is evident in its response to the growing importance of financial support. The organization experienced a remarkable 70 percent increase in service engagements, resulting in a significant boost in fund disbursement. In May 2023, the platform achieved a significant milestone by disbursing over one billion US dollars in financial services to customers.

Another important milestone is the introduction of an advanced platform for HR teams to support their employee partners. This platform streamlines communication between HR and employees, reduces administrative time, and provides immediate access to comprehensive information about customer activities. In addition, a mobile app for the same is released, which further enhances its accessibility and user experience. Looking ahead, the team is developing education programs to empower the community against financial pitfalls, such as online fraud.

SAVii’s journey over the years demonstrates resilience and commitment to redefining the relationship between employers and employees. Its achievements and milestones in 2023 serve as a testament to its dedication to transforming the employee wellness landscape and fostering financial flexibility across diverse industries.