❝ employees spend at least 3 hours a week worrying about personal finances instead of work.❞
PricewaterhouseCoopers (PwC)
This represents a significant loss of productive hours, hindering a company’s ability to innovate and grow. Financial stress is not merely a personal concern; it is a substantial business challenge.
What Are the Impacts of Employees’ Financial Stress?
When employees are preoccupied with financial worries, their productivity declines significantly. Creativity falters, morale diminishes, and absenteeism rises.
Consequently, businesses incur increased operational costs due to higher turnover and reduced efficiency. So, what is the solution?
EWA: Transforming Your Employees Finances and Business
In today’s fast-paced environment, employees require more than just a monthly salary. Earned Wage Access (EWA) addresses their evolving financial needs. By providing employees flexible access to earned wages, companies enhance employee well-being and solidify your company’s position as an employer of choice.
Why EWA is a Essential for Your Business?
- Boost Employee Productivity
Financial stress is a primary obstacle to productivity. When employees grapple with financial management, their focus and energy are divided. EWA mitigates this challenge by offering early wage access, reducing financial stress, and enabling employees to concentrate fully on their tasks. The outcome is a substantial increase in productivity and the quality of work.
- Strengthen Employee Retention
Retention of employees is a major hurdle for many businesses. Employees who feel underappreciated or not financially rewarded enough tend to look for opportunities elsewhere.
By offering instant wage access through EWA, companies can elevate employee satisfaction and loyalty. As a result, recruitment and training costs are reduced, while simultaneously enhancing overall team productivity.
- Protecting Employees from Risky Loans
TFinancial pressures often compel employees to seek rapid solutions such as high-interest loans. EWA presents an alternative, providing immediate access to earned wages, empowering employees to manage urgent needs without incurring additional interest or fees.
- Retaining Top Talent
In today’s highly competitive job market, companies must offer more than standard salaries and benefits to secure top talent. EWA is a valuable financial perk that can sustain the loyalty of your most skilled employees.
Now It’s Time to Implement EWA in Your Company
Investing in employee well-being is the best investment you can make for your company’s future. With EWA, you’re not just boosting employee satisfaction, you’re building a reputation as an employer of choice. Take the first step towards sustainable success with Setlary.
