Johannesburg - Since the introduction of a financial wellness programme at Anglo Platinum, employees have saved over R28 million annually on debt installments, the mining giant said on Friday.
It said the launch of Nkululeko 18 months ago had also resulted in garnishee orders being reduced by 81 percent from 5 877 in March 2011 to 1 088 in March this year.
The company’s example may chart the course forward for other big companies whose workforce is debt burdened.
Worker debt is widely acknowledged as one of the key drivers of prolonged strikes and tumultuous labour relations. Indebtedness contributed significantly to the wage impasse that lead to the Marikana massacre in 2012.
CEO Chris Griffith said in a statement he was pleased with the results and the company hoped to achieve more.
“The response and results of Nkululeko have been very encouraging. The annualised saving of R28 million is significant and we hope will encourage more employees to join the programme.
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“Our aim is to reduce the number of garnishee orders for our employees by 50% and ensure that they are replaced with more effective and less expensive debt relief solutions which will have a direct impact on their disposable income and well-being,” he said.
It is currently National Savings Month in the country.
LABOUR BUREAU