Survey Reveals Instant Access to Wages is a Must-Have for Employees
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火曜日, 11月 7, 2023
ATLANTA, Nov. 7, 2023 /PRNewswire-PRWeb/ -- Instant Financial, the pioneer of responsible on-demand pay solutions, partnered with HR Dive's studioID to find out how companies perceive and use earned wage access (EWA) as a benefit to attract, retain and engage employees. The study found that while many employers surveyed do offer EWA as part of their financial wellness offerings, the benefit is still underused and often misunderstood. Additionally, the survey explores some of the challenges that employers experience when implementing EWA, with roughly one-third of all respondents expressing confusion around eligibility, payroll integration, and buy-in from senior leadership.
Key Points:
- This survey highlights the opportunities that exist for organizations to adopt EWA, yet also brings to light how misconceptions can lead to a lack of program success.
- Employer of Choice - For 71% of execs, the primary reason they don't use EWA is that employees haven't asked for it.
- To meet the demands of millions of employees and employers across the country, Instant offers the only on-demand pay solution that gives employees a full banking experience, free of predatory fees.
- With Instant, employees are able to get access to their earned wages at the end of every work day, with no cost to them or to their employers.