Do your employees ever ask for pay advances?
As personally stressful and humiliating as it might be for someone to come in and ask you for an advance, it also creates a lot of work for you, right?
Maybe you’re the supervisor, and to give someone a payroll advance you have to fill out a form and get your manager’s signature. Or maybe you’re worried that if you do it for one employee, then word will get out and others will ask for pay advances too, and the paperwork will never end. Maybe you’re even a little miffed that your workers can’t manage their finances better.
Or perhaps you’re a small business owner simply trying to “do the right thing” for your workers, which includes helping them deal with occasional financial emergencies. But even if you use the simplest accounting software in the world, issuing a pay advance is still a cumbersome, non-routine procedure.
So let’s compare the processes required to provide an employee with a pay advance, both before and after making the PayActiv solution available at your company:
Here are the actual instructions provided by one popular accounting tool for small and medium enterprises, instructing you how to issue a payroll advance to an employee (I’m not making this stuff up):
Here are the instructions for issuing a payroll advance to an hourly employee after your company has made the PayActiv app available:
PayActiv provides a frictionless payroll advance process – so frictionless that you’ll no longer be required to play judge and jury in deciding whether a particular worker’s financial need merits an advance. You won’t even have to know when a worker gets a pay advance, because any worker will be able to get an advance whenever they decide they need one, without having to give up their privacy or dignity.
Importantly, the PayActiv solution isn’t a loan; it just gives workers a frictionless and timely way to access money they’ve already earned. Workers can even use the app to put money aside in a savings program, automatically.
And you know what else is frictionless? Deciding to make the PayActiv app available to begin with.
PayActiv costs your company nothing at all to install or use, and has no effect whatsoever on your cash flow because PayActiv funds each transaction. It requires no integration with your accounting or payroll systems, violates no financial regulations or privacy rules, and is so easy to implement that you can make it available to employees literally within a few days of deciding to do so.
PayActiv is a real-time, frictionless solution for your employees’ between-paycheck financial needs.
Why wouldn’t you offer it to them?