New partnership advances shared common goal to provide employers with tools to increase employee engagement and wellness
LOS ANGELES and BOSTON, Jan. 12, 2022—Salary Finance, the leading global provider of socially responsible financial products in the workplace, today announced a partnership with GVNG, a financial product and technology platform that empowers citizen philanthropists. Adding GVNG and its GVNG Wallet to the list of tools offered to Salary Finance employer partners provides the opportunity for increased employee engagement and wellness.
A recent study revealed that more than 70% of employees said it was very important to work for an employer where mission and values align, and that working in a company where the culture is supportive of giving is very important. GVNG allows users to contribute money, assets and crypto to their account, getting an immediate tax benefit. Participating employers can easily match donations and send funds to their employees’ GVNG Wallets as incentives or rewards. At their own pace, GVNG users donate the funds to any U.S. charity, directly in the app. There are also opportunities for GVNG users to increase their impact through tax-deductible crowdfunding campaigns.
“With the effects of the ‘Great Resignation’ all around us, we know that employers are looking for ways to bring meaning to the workplace,” Daniel Shahkani, founder, Salary Finance, said. “GVNG provides the opportunity for our customers to engage with their employees through a giving program that doesn’t necessarily require the employee to have funds of their own to donate. While Salary Finance’s products are a tool to allow employers to help employees who are struggling with financial stability, GVNG will allow companies to reward employees by giving them funds they can donate to their favorite causes. Hopefully, over time, when the employee has reduced their debt and caught up on their financial obligations, they’ll be inspired to continue giving and help others.”
Other research shows that more than 75% of employees said that the ability to choose causes they care about is imperative for a positive donation experience, and nearly 30% said they don’t give through the workplace because the causes they care about are not available as choices.
“GVNG makes it easy for employers to empower their workforce to give to causes that matter to each individual, providing a benefit that’s been proven to elevate feelings of purpose and connectedness,” said Kyle C. Murphy, CEO of GVNG Technology, the technology arm of GVNG. “Both GVNG and Salary Finance aim to provide employers with tools to increase engagement and encourage financial stability, therefore adding to overall wellness – something we know workers want as they look for meaning in their lives.”
About Salary Finance
Salary Finance’s mission is to improve the financial health of working Americans by providing access to socially responsible financial products in the workplace. When employees can access affordable credit, reduce bad debt, and increase their savings, they’re happier and more productive at work, and more likely to achieve long-term financial stability. Employers benefit from improved retention and engagement, at no additional cost. Our award-winning technology platform enables us to offer better, inclusive financial products such as high-interest savings accounts, access to affordable credit, and personalized financial education. Salary Finance is a United Way Worldwide corporate partner and works with over 600 of the world's leading employers. Salary Finance is a Founding Member of Conscious Capitalism's Senior Leader Network, a member of the American FinTech Council, and winner of Finovate’s Best Consumer Lending Solution award for 2021. To learn more, please visit www.salaryfinance.com/us.
GVNG is as much a philosophy as a financial product and platform – it is designed to increase giving by empowering the citizen philanthropist with tools, inspiration and support to become a better donor. The GVNG Wallet is like a 401k for giving, individuals, companies, and other organizations can contribute money, crypto, stocks, and bonds and get a tax benefit immediately, while providing a seamless path to donate to more than 1.6 million charities over time. Unique to GVNG, users can amplify their impact by running their own tax-deductible crowdraising campaigns to support their favorite charitable causes. GVNG is integrated with payroll and banks to ensure giving is always part of the overall financial wellness picture. GVNG provides a unified picture of impact over time with a single tax receipt at the end of the year. The GVNG Wallet is administered by GVNGorg, a 501(c)(3) tax-exempt organization (a California nonprofit public benefit corporation) and powered by GVNG Technology, Inc.
Learn more at www.gvng.org.
Phil LeClare, Salary Finance, firstname.lastname@example.org, (617) 209-9406
Holly Ferris, GVNG, email@example.com, (562) 746-8461