Have you ever hired someone who seemed great in the interview or even started off strong, but all they do now is the bare minimum? Or worse yet, have you ever had an employee quit with no signs or explanation? Unfortunately, these scenarios are very common in the modern workplace. But what if there was a way to combat quiet quitting and better engage employees? Enter earned wage access (EWA).
What is Earned Wage Access?
Earned wage access is a solution that allows employees to receive part of their earned pay before payday. It’s designed to bridge the gap between when wages are earned and when they’re paid. Instead of waiting two weeks (or longer in some cases) for a paycheck, employees can use EWA to get a portion of their earnings right away. This can make a huge difference for employees living paycheck to paycheck because it helps them pay bills on time and avoid late fees and avoid sticky cycles of debt. Plus, it can be an effective tool to increase employee engagement because workers feel more valued and appreciated when businesses value their financial wellness.
The Benefits of Earned Wage Access
Employers benefit from EWA as well because not only can it help attract top talent, but it also helps to reduce turnover costs associated with onboarding new staff members and training them. It also improves morale by helping employees meet their financial needs in real-time instead of having to wait until payday.
Combat quiet quitting with earned wage access
Earned wage access is an effective way for employers to combat quiet quitting and help motivate employees to come to work every day and do their best by bridging the gap between when wages are earned and when they’re paid. Plus, it increases operational efficiency by eliminating the need for pay advances. So if you’re looking for an easy way to improve employee engagement levels in your workplace, consider implementing earned wage access today!
Offering earned wage access
Implementing earned wage access is simple for employers with Immediate. From implementation, to launch, and beyond – Immediate is free to offer and seamlessly integrates with existing payroll and time-tracking systems.
Book a call with our sales team to increase engagement at your workplace for free!