GoGet, a leading on-demand workforce platform based in Malaysia, has partnered with Malaysia’s Employees Provident Fund (EPF), to launch an innovative savings feature on the GoGet app.
For the first time, gig workers are provided with employee benefits and protection similar to full-time employees including social security protection, savings, insurance, and upskilling.
This follows GoGet and EPF’s partnership announcement on 23 February 2022.
“It is imperative that we create a safe and trusted platform for our gig workers. This has been our priority since day one and we can only do this by ensuring that financial protection is one of our core pillars,” said GoGet Co-Founder and CEO Francesca Chia.
“We believe this will also empower business owners to employ more gig workers to scale their operations. This integrated savings feature that is customisable by the gig worker is a solution thwat not only suits the flexible nature of the new age gig economy but also achieves the trusted protection offered by EPF.”
“Our partnership with EPF further cements our shared belief in creating a sustainable future of work,” she added.
At present, more than half of Malaysia’s labour force is not covered for retirement income security and 26 percent of Malaysia’s labour force, equivalent to four million freelancers, form part of the growing gig economy.
With 38 percent of full-time Malaysian employees had already considered venturing into the gig economy, which was higher than the global average of 20 percent, GoGet now provides gig workers with the following:
- Benefit from the power of compounding dividends by starting to save early with the EPF.
- Net income received through the app, including qualified bonuses, will be considered for contribution.
- Safety and Social Security with SOCSO insurance and private on demand insurance.
- Free in-app content to empower GoGetters with better financial literacy.
- Ability to upskill through training and on-job experience.
The support from Malaysia’s EPF signals the increasing openness of ASEAN governments in supporting the future of work. By using a tech-enabled solution, gig workers are able to upskill, find work, and have a trusted platform for financial protection.
Over 7000 SMEs and large businesses have relied on GoGetters including Lazada, Secret Recipe, Yoodo, and BloomThis. Business owners can recover from having to Lockdown during Malaysia’s Movement Control Orders, by engaging GoGetters as their workforce while they gradually open up to full operational capacity.
This has allowed businesses to manage cash flow while still maintaining quality operations supported by reliable manpower.
The EPF feature now provides even more confidence to business owners in such models of work, as the GoGetters are financially protected.
The EPF in its statement during the signing of the MoU between the two parties on 23 February said that the collaboration with GoGet was part of the EPF’s agenda to cast the social security net wider and extend coverage to those in the informal sector and gig workers.
It added that GoGetters contributed immensely to the economy and leaving them vulnerable without a social safety net for retirement would have far-reaching socio-economic consequences in the near future.
This partnership follows a series of innovative partnerships with government bodies including offering Social Security with SOCSO, financial literacy programs with PIDM, and job placements with MDEC’s B40 program. Innovative models like GoGet bring opportunities for employment within the nation.
The recent appointment of GoGet’s CEO to the National Employment Council speaks to the forward thinking and innovative mindset that the Malaysia Government is applying to the new digital models.