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Prevent Employee Financial Stress After Eid With These Methods

Ramadan is a special time for employees, but it can also pose challenges for companies in managing cash flow. The obligation to pay holiday bonuses can become a financial strain if not handled properly. Additionally, after Eid, many employees face financial difficulties due to high spending and rising prices during Ramadan. As a result, many employees run out of funds before the next payday, which can affect their productivity and well-being.

Financial stress not only impacts a person's financial situation but also affects various aspects of health and wellness. A PwC survey found that 57% of workers say financial issues are the main source of stress in their lives. Concerns about finances negatively affect sleep quality (56%), mental health (55%), and other areas. This data shows that financial stress can impact personal well-being, social relationships, and workplace productivity.

When employees experience financial pressure, their productivity may decline, ultimately affecting the overall performance of the company. Financial worries can lead to decreased focus, increased absenteeism, and lower work quality. Therefore, companies need to ensure their employees' financial well-being to maintain optimal business operations.

To assist companies in addressing these challenges, OttoDigital offers OttoKasbon, a financial solution that allows businesses to manage essential expenses during Ramadan without disrupting their main cash flow. With OttoKasbon, companies can provide flexible salary options without needing to allocate large sums of money at once, keeping the main cash flow stable.

All loan applications, approvals, and fund disbursements are managed by the OttoKasbon system, which reduces the workload for HR teams dealing with employee loans.

Grace Sunarjo, Chief of Product Growth and Marketing at OttoDigital, stated that flexibility in managing company cash is crucial for maintaining financial balance during Ramadan. "OttoKasbon is designed to make it easy for companies to provide cash access to employees through a quick and digital process. With a one-day workday fund disbursement SLA, OttoKasbon ensures that funds are available on time without straining the company's cash flow or adding extra administrative work," she explained.

For employees, access to additional funds after Eid offers a solution that helps them avoid the risks of unofficial online loans, which could lead to bigger financial issues later.

Retno Diah Primita, HR Manager at Inare, a reinsurance company, shared that her company has benefited from OttoKasbon in supporting employees' financial well-being. She noted that the available features are user-friendly, with a fast and flexible application process and easy access through a practical app. Additionally, the guaranteed security of employee data adds value, making the company feel more at ease in providing this facility.

"OttoKasbon not only helps employees meet their financial needs but also positively impacts the company by increasing loyalty and reducing turnover rates. With a reliable financial solution, employees feel more comfortable and focused at work," Diah said.

As Ramadan approaches, companies need to plan a solid cash flow strategy to meet their THR obligations and maintain operational stability after Eid. OttoKasbon serves as a solution for companies to ensure cash flow remains secure and to support employee well-being.

Tag: Grace Sunarjo OttoKasbon