The pandemic completely altered life as we know it, and employees are returning to work with an entirely new set of needs, desires and fears. Rebuilding employee trust in the post-COVID workplace is going to take time and strategic effort from employers. One proven way to make employees feel more secure is to improve their pay experience by offering an on-demand pay benefit (also known as earned wage access). Doing so will help both your company and your employees to reduce costs, improve productivity and adapt to the “new normal.”
In this webinar, Josh Jackson, DailyPay’s Product Marketing Director, and Caroline Kirk, DailyPay’s Product Marketing Manager, explain how to properly evaluate and select the right on-demand pay provider for your company. Offering a valuable daily pay benefit can make rehiring your workforce much easier, as it will give you an edge over the competition. It can also help you retain employees by giving them control over their pay, aiding in their financial stability. Digital payment technologies are also a great solution for getting your employees paid without having to handle cash or paper checks.
Josh and Caroline will provide regulatory and compliance information to help you eliminate risk and make a more informed decision when choosing an on-demand pay provider. They will also alert you to a number of important features to check for during that process. One of the first things they will delve into is how to ensure that instant access to funds (which some providers call instant access to earned wages) actually means “instant,” and not just “same day.” It is worth considering where the provider will deliver funds, as there may be limitations on the type of account, or it may be necessary for employees to use a specific pay card.
Free savings and budgeting tools that help your employees achieve financial stability are also important to consider when selecting an on-demand pay solution. Additionally, the program should account for each user’s personal financial situation, including benefits deductions and garnishments, when determining how much an employee is eligible to transfer.
This webinar goes in-depth to explore these checkpoints and more to help you choose the on-demand pay provider that will most effectively meet the needs of your business and your employees. Click the link below to listen in!