Albion Group partners with Wagely to enhance employees' financial wellness

Albion Group, one of Chattogram's leading pharmaceutical companies, has announced a strategic partnership with Wagely, a multinational financial wellness platform, to provide Earned Wage Access (EWA) to its employees.

This initiative is aimed at enhancing the financial well-being of Albion's workforce by allowing them to access a portion of their earned wages at any time during the month, thereby improving their financial stability and reducing the stress associated with payday delays.

The partnership was formalized in a signing ceremony attended by key representatives from both organizations. Raisul Uddin Saikat, Chairman of Albion Group, and Noor Elahi, Managing Director of Wagely Bangladesh, signed the agreement on Wednesday, August 21. Tuhinul Ifteha, Head of Sales at Albion Group, Jamshed Hasan, AVP of Business Development at Wagely Bangladesh, Mr. Asif, Head of Accounts at Albion Group, and Kaiser Farhad, Lead of Business Development at Wagely Bangladesh, along with other senior personnel from both companies were also present at the event, according to a press release from Albion Group.

Wagely is recognized as Asia's largest and fastest-growing financial wellness platform, renowned for its award-winning services tailored to middle and low-income workers. The platform provides employees with real-time visibility into their daily earnings and instant access to their earned wages, which has been shown to decrease employee turnover, enhance retention, and generate significant savings for businesses. Wagely has already partnered with more than 150 companies in Bangladesh, including prominent names such as KDS, SQ Group, Ananta, GoodEarth Apparels, DAF International, and Urmi.

With over 30 years of operation, Albion Group is a well-established pharmaceutical company in Bangladesh, offering more than 550 registered products that serve both domestic and international markets. By integrating Wagely's EWA service, Albion Group aims to further solidify its commitment to the well-being of its employees, reflecting its dedication to fostering a supportive and financially secure working environment.

Speaking at the signing ceremony, Raisul Uddin Saikat emphasized the importance of financial wellness for employee satisfaction and productivity. "At Albion, we believe that our employees are our greatest asset. By partnering with Wagely, we are taking a significant step towards ensuring their financial well-being, which we believe will lead to greater job satisfaction and improved performance," he said.

Noor Elahi of Wagely Bangladesh also expressed enthusiasm about the partnership, noting that Albion Group's adoption of EWA is a testament to its forward-thinking approach to employee welfare. "We are thrilled to partner with Albion Group, a leader in the pharmaceutical industry, to provide their employees with greater financial flexibility and security. This collaboration is a win-win, benefiting both the employees and the company as a whole," Elahi remarked.

As companies increasingly recognize the importance of employee financial wellness, the adoption of services like Wagely's EWA is becoming more prevalent across various industries. For Albion Group, this partnership not only enhances its employee benefits package but also positions the company as a pioneer in employee welfare within the pharmaceutical sector.

This collaboration marks a significant milestone in Albion Group's ongoing efforts to support its workforce, and it is expected to set a new standard for employee financial wellness in the industry. With the integration of Wagely's platform, Albion Group employees will now have the flexibility to manage their finances more effectively, leading to reduced financial stress and a more engaged and productive workforce.