In a bold and transformative initiative to elevate employee benefits and promote financial well-being, YALO, a sheltertech company specializing in flexible rental financing solutions, has joined forces with Workpay, a leading African HR and payroll management platform, to introduce a groundbreaking rental financing service for companies using Workpay’s payroll platform.
This strategic alliance is set to revolutionize the way employees handle rental payments by enabling them to spread rent costs over the year instead of making burdensome upfront payments.
Amid rising rental prices in Nigeria, this collaboration aims to alleviate financial stress for workers by offering a customized, flexible payment plan that empowers employees to achieve financial stability.
The initiative not only enhances quality of life but also boosts overall workforce productivity and well-being. Morenike Omotalade, Co-founder of YALO, emphasized the significance of the partnership in providing financial relief to working professionals: “As we celebrate our 2nd anniversary, we are delighted to partner with Workpay to extend our mission of empowering Nigerian workers,” said Morenike Omotalade, YALO’s Co-founder. “Amid escalating rent costs, this collaboration offers a crucial safety net, enabling employees to secure affordable housing and providing the financial relief they need.
It’s a testament to our ongoing commitment to creating positive social impact and making a real difference in people’s lives”.
This partnership benefits over 90 companies and their 7,000+ employees who use Workpay’s payroll platform, providing seamless access to flexible rental payment options. With this service, employees can opt to pay rent in manageable monthly installments, eliminating the pressure of sourcing large sums upfront.
This offering supports not only employees but also businesses by easing the financial strain on their workforce.
Workpay’s Business Development Manager Partnerships for West Africa, Frances Nzekwue, highlighted the importance of integrating financial services into employee benefits, stating: “The future of employee well-being goes beyond traditional health and retirement plans. By incorporating financial services, we empower employees with tools to manage their financial health, reduce stress, and boost productivity. This holistic approach not only enhances employee satisfaction but also positions companies as forward-thinking employers in an increasingly competitive market.”
The partnership aligns with YALO’s mission to tackle Nigeria’s rental crisis. Eligible employees can access this service through Workpay’s platform, which seamlessly integrates YALO’s rental financing into its payroll and benefits system, allowing employees to choose properties that suit their needs without property ownership requirements. This collaboration between YALO and Workpay marks a significant step toward enhancing financial inclusivity for Nigerian employees and addressing the challenges in the country’s rental market.
As both companies continue to drive innovation, this partnership paves the way for more integrated solutions that bridge the gap between financial services and employee benefits, ultimately fostering a healthier and more productive workforce.
About YALO: YALO is a sheltertech company easing the burden of large upfront rental payments by offering monthly payment plans aligned with salary schedules. This allows employees to allocate earnings to essential needs, improving overall welfare. Through www.yalo.ng/, employees can apply for financing and spread rent over 6, 9, or 12 months. YALO’s services bridge financial gaps, contributing to accessible, affordable housing for all professionals, regardless of gender.
About Workpay: Workpay is a cloud-based HR and payroll platform that streamlines employee management for businesses across Africa. It integrates payroll, benefits, and compliance into one system, allowing for efficient workforce management. With features designed to enhance access to financial services, Workpay supports companies in managing HR functions.
For more information, contact: YALO: Iyanuloluwa Dada, Commercial Manager Email: [email protected].
WORKPAY: Frances Nzekwue, Partnerships Manager WA. Email: [email protected].
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