As an employer, you know that your ability to attract and retain talent hinges on your willingness to provide popular employee benefits. What you might not realize, however, is that employees don’t just want health insurance, sick days and flex time. Read the entire article.
Another option in helping employees manage money and cut down on accessing the dreaded payday loan is PayActiv. A Leader in Earned Wage Access, PayActiv is a financial technology company that has built a comprehensive suite of turnkey, employment-based financial wellness offerings. As a certified B Corp., the company’s mission is to bring viable alternatives to conventional small dollar and expensive lending products that lead individuals into a downward spiral of indebtedness. Based in Silicon Valley, PayActiv has won best in class awards in both FinTech & HRTech and is the provider for Earned Wage Access to Walmart, plus hundreds of businesses in retail, aging care, healthcare, BPOs, and other service industries.
The PayActiv financial wellness platform is a first-of-its-kind, holistic financial wellness solution that provides workers on-demand timely access to their earned but unpaid wages, savings and budgeting tools, bill payment, financial literacy, and many financial inclusion services. Businesses that offer PayActiv as a financial wellness benefit to their employees see significant cost reductions through increased recruitment, engagement and retention. Employees love PayActiv because it eliminates the expensive between-paychecks tolls of payday loans, bank overdrafts and late fees. Employees download the mobile app and can start accessing all services from day one.
Providing this option to your employees is completely free to the employer, and does require some time providing payroll information. Learn more about how to offer this to your employees.
