If you manage any type of team, you know that one of the challenges can be making sure they have access to their earnings on a regular basis. In order to avoid financial stress for your employees, you may want to consider an earned wage access (EWA) solution like Immediate.
Here are three things to look for when choosing a solution for your business:
1. Flexibility
The best EWA solutions will be flexible, allowing you to tailor the program to the needs of your business. You should be able to choose how often employees can access their earnings. Additionally, you should have the option to offer additional earned wage access transactions when emergencies arise. The solution should be customized for YOUR business… not just the standard “off the shelf.”
2. Responsibility
EWA solutions should alleviate financial stress, not add to them. Immediate is the most responsible solution on the market because we have user guardrails in place to ensure employees cannot deplete their full paychecks. Unrestricted access to pay can lead to overuse and result in your employees falling prey to predatory lenders when paychecks are fully accessed before payday.
3. Ease of use
Finally, you’ll want to make sure that the EWA solution you choose is easy to use for both you and your employees. Look for a solution that offers a mobile app so employees can easily check their balance and request withdrawals. There should be very little work on your HR staff, the solution providers should be able to handle automated deductions reports, and, most importantly, manage user support so as to not add more workload to your internal team.
No matter who you manage, an EWA solution can help them avoid financial stress. When choosing a solution, look for one that is flexible, affordable, and easy to use. With the right solution in place, you can help your employees stay financially healthy and focused on their work.
To learn more about an EWA solution that meets all of these criteria, schedule time with an Immediate representative by completing the form below:
Written by: Matt Pierce, CEO
