Birmingham, Ala. – March 16, 2022 – Immediate, a financial wellness and earned wage access (EWA) leader, announced today a referral partnership with Veryable, an on-demand marketplace for manufacturing, logistics and warehousing labor. This partnership will enable Veryable’s customers to give their full-time employees one of the key benefits that the independent contractors on the Veryable platform already receive: on-demand pay. Immediate will work directly with the Veryable team to educate them on EWA and financial well-being for employees.
A flexible labor solution, Veryable connects businesses with high-quality workers at the click of a button, enabling higher productivity and a competitive edge. Veryable currently operates in 22 cities, working with multinational corporations as well as family-owned businesses. Through this strategic partnership, Immediate will connect with a wider scale of warehouse and manufacturing businesses across the country and introduce their full-time employees to on-demand pay.
“Many industries are facing a major labor shortage, and Veryable creates a solution by connecting businesses with high-quality workers to meet their business demand in real time,” said Daniel Lubosco, Veryable VP of Operations. “We pride ourselves on providing access to perks for the workers as well, like the ability to control their own schedule, opportunities to build new skills and on-demand pay. Immediate can now work in tandem with Veryable to expand offering on-demand pay not only to the independent contractors who have had access while using Veryable but now to these companies’ full-time workforce.”
Being at the forefront of manufacturing innovation has been Veryable’s mission since co-founder and CTO Noah Labhart launched in 2016. Veryable recently raised $31.9M in Series A funding to pursue its mission of revitalizing the $2+ trillion US manufacturing industry.
“Like Immediate, Veryable is offering a revolutionary redesign of the relationship between employers and workers,” said Matt Pierce, Founder and CEO of Immediate. “It’s proven that financial stress impacts employees’ job performance, negatively affecting bottom lines. Veryable offers a unique way to improve overall productivity and enable organic growth. Partnering with Veryable aligns with our mission and creates more opportunities for workers to experience financial wellness.”
Offering flexible solutions for employees to not only find work but also to control when and how they get paid is likely to become standard practice as companies work to combat “The Great Resignation” and improve efforts in recruitment and retention with statistics from Immediate showing a 40% turnover reduction. As EWA demand increases, employees are becoming more empowered to find work that suits their schedules and request access to their pay when they need it most.
Immediate partners with employers to provide their employees with wages that have been earned but not paid, whenever they are needed. With seamless time tracking and payroll integrations, same day and next day bank transfers, and the ability to put earnings directly on a debit card, Immediate is working to improve financial wellness and eliminate cycles of debt for employees by allowing them to access their hard-earned wages. To learn more, visit joinimmediate.com.
Veryable’s mission is to revitalize the American manufacturing sector by allowing businesses to “variablize” labor costs in small increments. This lets them increase costs only as their output increases, which will empower businesses to scale while maintaining a lower fixed labor cost and create a more flexible, operational labor approach. The company, founded in 2016, aims to achieve this through its technology, which enables it to transform an antiquated and inefficient labor market into a real-time marketplace for labor. This will put more people to work and relieve the burden on manufacturers and suppliers, improving overall productivity and enabling organic growth.