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Lost Employee Productivity Due to Financial Stress

Workplace is greatly affected by employees who are experiencing financial stress. Research suggests that employee financial stress costs American employers billions of dollars in lost employee productivity every year. A 2009 study by Dr. Ronald Loeppke and colleagues of absenteeism and presenteeism among 50,000 workers at 10 employers showed that lost productivity costs are 2.3 times higher than medical and pharmacy costs 1.

PayActiv Solution

Now, businesses can change this by offering financial wellness programs as part of employee benefits package. While there are several companies offering financial counseling and education, which provide some help to employees who are struggling, PayActiv is a game changer because our award winning HR product provides real alternatives to debt products like credit cards and payday loans. Employees can get immediate cash access to a portion of their earned but unpaid fee for a flat fee of $5 or less (only when cash is accessed). There is no interest and no other hidden fee.

Businesses can build a strong and committed workforce by offering real solutions to employee financial problems.

Video Transcript

What would you do if you discovered that more than half your employees are suffering from financial stress, causing them to underperform?

You would look for a way to end it. Financial stress is at epidemic levels, and it is affecting your bottom line in more ways than you know.

At PayActiv, we have engineered the fintech solution to end financial stress. And In doing so, boosting employee productivity, motivation and retention, all while reducing operational costs and increasing profits!

Too good to be true? How about if we told you that this was possible without spending a dollar?

PayActiv, HR product of the year 2016,  is the catalyst for transforming your business. We do this with a revolutionary mobile financial app.

employee productivity financial app

PayActiv solution works with your HR and IT systems, no integration is required, we leverage existing payroll and time/attendance data. The best part is that this comes at Zero cost and Zero Risk to employers.

Employees can enroll in PayActiv within seconds to access exciting financial services. No bank account or credit check is needed!

Once enrolled, employees can access their earned income between paychecks with the all new real-time payroll feature! Employees can also pay bills on time, transfer money to different accounts and save for a rainy day using our savings tool.

At PayActiv, we are changing the way workers get paid – they have earned it, they need it, let them have it.

Partner with us to gain the industry advantage. Don’t get left behind! Be proactive - make your business PayActiv.

 

References

1Harvard Business Review, What’s the Hard Return on Employee Wellness Programs?

It's more than a paycheck.
It's peace of mind.

It's more than a paycheck. It's peace of mind.

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