Financial stress is at the root of accidents, absenteeism, presenteeism, doctor’s visits, and more. Research from the Harvard Kennedy School of Government concludes that when employees have a low-cost fintech solution to help with short-term small-dollar financial shocks, it materially improves their financial resiliency and health.
Due to the popularity of the Earned Wage Access concept, a number of companies offer mobile apps that include variations of the EWA transaction. It is important to learn their differences and understand the assorted services, the fee structure, and the underlying legal model for businesses.
When researching and speaking with EWA providers, there are several key questions you should be asking:
By reducing financial stress, creating loyalty, and fostering a rich culture of reciprocity, employers can ensure they decrease turnover and increase retention to build a stronger, more passionate, and effective workforce for the future.
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