PayKey

In today’s on-demand, highly digital world, which allows us to easily make instant payments through an app, it’s becoming increasingly hard to justify a payroll model that makes life easier for employers rather than employees. So will EWA ultimately become the next big work perk? “Definitely,” says Pitman. “People want more flexibility in all aspects of their lives.” Source: https://lnkd.in/gCb9Qsi3 #paywage #flexibility #essential #tips #people #employee #instant #access #positive #guide #financial #savings #improved #tips #well-being #finances #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Managing Personal Finances Is an essential skill for achieving financial stability and long-term goals. #paywage #managing #essential #tips #paid #access #positive #guide #financial #savings #improved #tips #well-being #finances #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Is earned wage access the next big work perk? This is the logic behind Earned Wage Access. It’s a service that allows employees to access a portion of their earned wages ahead of a traditional bi-monthly or monthly payday (usually for a small fee) with the remainder of their wages paid on the usual date. “It started in the gig economy,” says Sean Pitman, head of product strategy and commercialization for Visa Direct Europe, “and that’s where it’s most prevalent.” In other words, as the nature of work has shifted toward more gigs, short-term contracts and freelance opportunities the desire for on-demand pay has grown too. And now this desire is going mainstream. “We’ve seen it [EWA] change from something that’s employee-driven to a business-provided benefit,” says Pitman, “…big companies are now offering this to their staff.” Source: https://lnkd.in/eKxCsUzE #paywage #logic #portion #gig #paid #access #positive #guide #financial #savings #improved #tips #well-being #finances #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Perks like EWA can also demonstrate that an employer cares about their employees’ financial wellbeing. This can create a more positive work environment and a stronger sense of loyalty to the company. In other words, EWA could help businesses to retain valuable people at minimal cost – something that’s particularly important at a time when turnover rates are sky-high. Source: https://lnkd.in/eKxCsUzE #paywage #smart #cares #positive #skyhigh #loyalty #valuable #guide #financial #savings #improved #tips #well-being #finances #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Smart Spending Survival Guide #paywage #smart #spending #survival #guide #financial #savings #improved #tips #well-being #finances #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Financial Stability and Security: With Earn Wage Access, freelancers can have greater financial stability and security. They no longer have to worry about delayed payments affecting their ability to meet financial obligations or cover essential expenses. #paywage #freelancers #stability #security #financial #savings #reduced #reliance #improved #recruitment #retention #tips #well-being #finances #embrace #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Employers that offer EWA have reported significantly improved recruitment and retention. Some reports have indicated that 78 percent of Millennial and Gen X employees said having EWA would boost their company loyalty. Source: https://lnkd.in/e3zPDDVq #paywage #employee #financial #savings #reduced #reliance #improved #recruitment #retention #tips #well-being #finances #embrace #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Reduced Reliance on Informal Lending: In the absence of access to formal credit, some employees may turn to informal lenders who charge exorbitant interest rates, leading to a cycle of debt. EWA can offer a more affordable and regulated solution, reducing the burden of debt on workers. #paywage #employee #financial #savings #reduced #reliance #solution #tips #well-being #newyear #finances #embrace #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

Why is there a proliferation of EWA? Proponents of EWA argue that, with almost half of hourly employees in the United States with no emergency savings and nearly 80 percent saving less than $500, it may help employees meet financial needs in the middle of a pay period. Source: https://lnkd.in/e3zPDDVq #paywage #employee #financial #savings #proliferation #tips #well-being #newyear #finances #2024 #embrace #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow

4 TIPS TO BOOST YOUR FINANCIAL WELL-BEING #paywage #employee #financial #advantage #altrenative #tips #well-being #newyear #finances #2024 #embrace #prosperous #future #suggest #highlight #fyp #promotion #earnwageaccess #viralpost #trendingnow