Reputable Staffing Company Reduces Turnover

Industry: Staffing Services
Key Takeaways

30%

Employee participation in the program

$12 million

Earned wages accessed in a little over a year

Reduced employee turnover without affecting cash flow

Payactiv’s Earned Wage Access didn’t affect their cash flow

The Challenge

Integrity Staffing has been providing temporary workers and recruiting services to large online retailers across the United States for more than 20 years. Whether you need one person or thousands, Integrity has the expertise and scalability to keep
your business sufficiently staffed for short-term or long-term needs. One of their top priorities is to find skilled employees that will be fully engaged in their company’s success. High turnover rates and rising competition, especially in an unstable
labor market, makes this a real challenge though.Temporary workers in warehouses and call centers have demanding jobs that require focus, efficiency, and great customer service skills. Sometimes it’s hard to
deliver on such high expectations when life delivers unexpected financial hardships. Integrity was looking for a way to help their hourly workforce handle these unexpected expenses and in turn lower the turnover rates. Workers were often turning to predatory lenders who charged exorbitant fees. The solution they were
looking for would not only help workers avoid such bad loans, but also not affect Integrity’s monthly cash flow.

• Lower the turnover rates for hourly workers
• Provide a financial wellness solution that will not affect the company’s cash flow
• Help employees deal with unexpected expenses without going to predatory loan lenders that will set them even further into debt

Since partnering with Payactiv a little over a year ago, we’ve seen an uptick
in attendance and a decrease in attrition… Roughly 30% of our associates have signed up for the Payactiv.

The Solution

Integrity was looking for a financial wellness solution that would help their hourly workers deal with unexpected expenses by accessing their earned wages whenever they needed them. Some fintech providers charge a variety of fees each time
an employee uses their service and even put a time limit when they have to access their earned wages. Payactiv is very different. It provides a solution that charges a
very simple low program fee and never puts pressure on the employees to access their funds.Integrity appreciated that Payactiv’s platform was also very inclusive because it provided a way even for the unbanked and underbanked employees to participate in the program. The employees could sign up for the Payactiv Visa Prepaid
Card straight from the app and then also have access to their earned wages. The program fee was actually waived, if employees used the Payactiv card for direct
deposit. Payactiv’s platform was also easily accessible, both through a laptop or a smartphone, to accommodate their diverse workforce.An additional benefit that many other solutions didn’t offer was Payactiv’s free
one-on-one financial counseling and savings and budgeting tools. With these tools available in the app, their employees were set not only to access their money in case of emergencies, but also to get better control of their financial health.

• Financial wellness solution that has very fair, low fees for their employees
• Included unbanked/underbanked employees in EWA participation
• Comprehensive financial wellness including financial counseling and savings and budgeting tools

The Results

Since implementing Payactiv, Integrity has seen an uptick in employee attendance
and a significant reduction in attrition for the 30% of the employees that signed
up for the program. They found that regardless of the worker’s wage, unexpected expenses come up and most people don’t have enough money saved for emergencies. Many workers had their hours cut due to COVID, which put an additional strain on their limited savings.Integrity’s clients pay them only once a month, so they needed a solution that would not affect their cash flow. Since Payactiv does the prefunding of the employees’ wages, Integrity didn’t have to worry about having enough cash available to cover the program’s needs. Payactiv has processed over $12 million in earned wages in a little over a year, helping their workers avoid countless overdraft fees
and predatory loans.

• 30% employee participation in the program
• Significant reduction in attrition and increase in attendance
• Processed over $12 million in employees’ earned wages in a little over a year