Moneyway Chief executive Gary Jennison commended AXA's "My Budget Day" initiative, which has been backed by the CBI and employers across the UK, saying that it was a superb move toward relieving employee stress and forging excellent employer-employee relations.
AXA has called on employers across the country to give employees one hour on November 21 to organise their personal finances. The theory behind the call is that stress is a major cause of employee absence, and money is the key cause of stress.
By being sympathetic to employees' circumstances and allowing them time within working hours to organise their finances, the organisation feels that everyone will benefit - not least because the cost of employee absenteeism to UK companies is £9.6 billion per year.
Mr Jennison said that Moneyway would be supporting My Budget Day, and had the ability to alleviate financial pressures further via its unique OneBill budgeting service.
"I think AXA has identified a very relevant opportunity to improve matters for employees across the country," he said.
"No doubt a lot of employers will throw their hands up in horror at the idea of giving their staff an hour in work time to resolve their finances, but I think the long term rewards will be more than worth it.
"AXA's initiative is an ideal opportunity for people to look into setting up a OneBill from Moneyway account. If people used that hour on November 21 to sign up with us they would feel more relaxed immediately, because they would essentially be transferring responsibility to us," said Mr Jennison.
"It won't actually take an hour - and from thereon in, they can rest easy, knowing that we are managing things and working on their behalf to save them money."
Moneyway chats with customers to find out exactly what they need to pay out - from mortgage and car repayments, insurance policies and household bills through to mobile phone bills and Sky TV charges.
"Not only do we ensure that everything gets paid at the right time to ensure that our customers don't get hit by overdue charges or fines, but we also deal directly with suppliers to negotiate lower rates for reliable payers. Some of our customers can save hundreds of pounds a year," said Mr Jennison.
"By allowing us to handle the finances, and leaving them with just one bill a month - ours - people can concentrate on everything else, such as their families, friends, careers and leisure time.
"People today lead such busy lives that they don't have the time to shop around for better quotes, better deals and better prices, and we don't see why they should suffer because of that, so we have taken it upon ourselves to do it for them.
"We just think that there are more important things in life than worrying about money.
AXA has recognised that, and so have plenty of other employers. We hope that we can ease the pressures even further," he added.
For details on signing up to OneBill contact Moneyway on 0800 073 3733 or visit www.moneyway.co.uk/
