How EWA gives employees the financial freedom to get through Januworry
Welcome to January, the longest month of the year! Colloquially termed ‘JanuWORRY’ there is a seemingly endless space between December’s early paycheque and the end of January that is amplified by all the overspending during the holiday season.
The truth of the matter is, once the holiday cheer fades, many are left facing a hard reality and experience high levels of worry about the month that lays ahead.
So, what can you, as an employer, do to help your employees escape JanuWORRY without incurring extra debt? The answer is simple – give your employees real-time access to their already-earned wages. That is right, having an Earned Wage Access(EWA) solution integrated with your business payroll helps you give your employees financial freedom in JanuWORRY.
How can an EWA solution help my employees?
Instead of receiving their pay at pre-agreed, fixed intervals – normally the end of the month or the end of the week – having an EWA solution in your business will give your employees the benefit of being able to access a percentage of their accrued wages at any time, giving them unprecedented flexibility and control over their personal finances.
Unlike a loan, EWA is an inclusive, responsible alternative to credit that carries no cost to you, the employer and no interest fees to the employee. The money withdrawn from their Paymenow wallet is money that they have already earned and will simply be deducted from their salary at the end of the month. A win-win all around and something that could be of great assistance to your employees not only in JanuWORRY but also throughout the year for when life happens.
Give your employees the Paymenow lifeline
By taking the initiative to give your employees access to a responsible percentage of their earnings, you are giving them a lifeline they did not previously have. So, when the stress of JanuWORRY hits, they have an alternative solution to make ends meet without getting themselves into debt. This also means that your employees will spend less time at work stressing about their finances, giving them a better headspace and mental capacity to focus on their work. Which in turn improved productivity, decreased absenteeism, financial resilience and well-being.
By choosing to integrate EWA into your business, you are choosing to open up the doors to your employees’ financial wellness. Financial wellness is good for business and even better for your people. Make this your employees last JanuWORRY by looking at integrating the earned wage access solution into your 2022 strategy.