Company Name: ABC Sdn. Bhd.

Industry: Maintenance

Workforce: 300 employees

Location: East Malaysia

Background

ABC Sdn Bhd Sdn. Bhd. is a leading maintenance company specializing in infrastructure upkeep across East Malaysia. With a diverse workforce, the company faced unique challenges in ensuring employee satisfaction and financial wellness.

Key Challenges:

1. Employees often needed immediate cash for urgent expenses, such as family support 
2. The workforce relied heavily on advanced practices, leading to high financial stress.
3. Retention was a concern, as financially stressed workers frequently sought higher-paying opportunities.

The Solution

ABC Sdn Bhd partnered with Credex to implement an Earned Wage Access (EWA) solution tailored to its workforce. This allowed employees to access their earned wages on demand, promoting financial stability and flexibility.

Implementation Process

1. Needs Assessment: Credex worked with ABC Sdn Bhd to understand the workforce's specific financial behaviors and needs.
2. Integration: The EWA platform was integrated with the company’s existing payroll process, ensuring a seamless rollout.
3. Employee Onboarding: Training sessions and multilingual educational materials were provided to ensure all employees understood how to use the EWA platform.

Results

1. Enhanced Financial Stability

• 46% of employees utilized the EWA feature within the first two months, primarily to cover daily expenses and remittances.
• Workers reported an average savings of RM100 per month by avoiding high-interest loans or lending fees.

2. Improved Employee Engagement

• Financial stress among employees decreased by 30%, as measured in internal surveys.
• Workforce productivity increased, with on-site efficiency improving by 18%.

3. Increased Retention Rates

• Turnover rates dropped by 12% within the first six months, as workers valued the financial support provided by the company.
• Employees expressed higher job satisfaction and loyalty during annual reviews.

Testimonial

HR Manager, ABC Sdn Bhd Sdn. Bhd.:

“The EWA program from Credex has been transformative for our workforce. It’s a simple, effective way to show employees we care about their well-being, and the results are clear—happier workers and smoother operations.”

Employee, ABC Sdn Bhd