In the quiet corners of rural barangays and the bustling alleyways of urban poor communities, microfinance workers serve as lifelines—bridging financial services to the unbanked and underserved. Armed with notebooks, gadgets, and an enduring sense of purpose, they navigate muddy roads, narrow alleys and crowded jeepneys to deliver not just loans, but hope. Yet, while much has been written about the transformative impact of microfinance on clients, far less attention has been paid to the people behind the mission.

Microfinance workers in the Philippines face unique pressures: tight performance targets, emotionally-charged client encounters, and the constant balancing act between serving communities and sustaining institutional viability. If we are to build a truly inclusive financial system, we must start by ensuring the well-being of those who make it possible.

Last week, I attended a large MFI’s presentation on their latest Staff Satisfaction Survey and was surprised to learn about the decline in satisfaction levels among their employees. In my 40 years working with affiliated networks of microfinance institutions and social enterprises, this is the first time I have seen such a significant decline. When disaggregated by position and tenure, it was noted that dissatisfaction was concentrated among field workers – unit managers, area managers, and account officers.

What was particularly striking was the pattern emerging from staff with two to 16 years of service, largely composed of Gen Z and millennial employees. Their concerns related to compensation, work arrangements, workloads, and perceptions of bias in the workplace. This situation troubled me deeply, especially since compared to other players in the microfinance sector, this organization offers one of the most competitive compensation and benefit packages. It provides comprehensive benefits and the staff are well cared for—yet some feel otherwise. This gap in perception cannot be taken lightly.

Right now, the organization is delving deeper to find the root causes of dissatisfaction among its staff. Upon closer examination of the data, it was found that satisfaction levels remain high among regional directors and above (those in higher positions.) Noting this disconnect between leadership and the staff at the frontline, the organization is now taking steps to improve communication and engagement, especially relative to compensation, benefits and other work conditions.

While reflecting on the staff satisfaction survey, I happened to hear a radio report referencing a global decline in employee satisfaction, based on several surveys. Apparently, our situation is not unique.

The State of the Global Workplace: 2022 Report by analytics firm Gallup shows that workers in the Philippines are ranked first for being most stressed among Southeast Asian employees. Insurer Willis Towers Watson, in its 2022 Wellbeing Diagnostic Survey-Philippines, also reported that employee stress and burnout is the top concern facing employers, quickly followed by cost of living/inflation.

I came across a news article citing a 2022 survey by Infinit Care, which revealed that 54 percent of Filipino workers experience reduced well-being, with 10 percent in a state of mental crisis. 87 percent of their 2,645 respondents reported work-related mental health issues, leading to significant disengagement and burnout. Another article featured the 2024 AXA Mind Health Study, which showed that 87 percent of Filipinos report work-related mental health issues, exceeding the global average. Accordingly, 85 percent of Filipino workers are considering pulling back from their roles, with 68 percent contemplating resigning or changing jobs. Burnout was also found to be a critical issue.

These findings echo the issues we are facing in microfinance. But unlike many profit-driven industries, our mission is not solely financial because our business is poverty eradication. Always, we must ensure that our organization remains financially and institutionally sound—and that our people remain motivated.

The MFI is now in the process of upgrading its Employee Well-Being Program (EWP) to continuously motivate and support its staff, especially those in the field. It plans to adopt the C.A.R.E+ Model: Counseling and mental health support; Active work-life balance; Resilient physical health; Economic and financial wellness; and growth and recognition.

As the organization forms working committees toward this end, I hope others in the industry would follow suit, adopting holistic EWPs that are tailored to the unique context of microfinance institutions. We could serve our clients better if we will promote the overall well-being of our frontliners. By addressing not just compensation and benefits but also employees’ stress, health, safety, and work-life balance, we can improve job satisfaction and service quality.

Microfinance workers are more than just employees. They are the soul of our institutions, the ones who carry our mission into the heart of the communities we serve. If we are to build a truly inclusive financial system, we must start by ensuring the well-being of those who make it possible. Investing in their welfare is not just a moral imperative—but a strategic one.

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“Employees are a company’s greatest asset – they’re your competitive advantage.” – Anne Mulcahy