A Financial Technology Company we work with has partnered with MasterCard to Offer your employees advances on their earned wages at no charge to them or your company. Advances are accessed using a debit card, also provided free of charge to your employees. This is a great help for your unbanked employees.
Instant Pay is a company-sponsored third-party employee benefit program designed specifically for the hourly worker that allows them to access wages earned BEFORE payday using a mobile app. Advances are funded by a third party so there is no cost to the employer. Offering this benefit results in significant cost savings by reducing both turnover and absenteeism. Employers also see a significant increase in the number of job applicants when referenced in their hiring campaigns.
What are the benefits of Instant Pay?
Instant Pay is focused on making life easier for your hourly workers. By offering this one employee benefit, companies have seen 13% less turnover, 15% less absenteeism, 60% better shift coverage and more applicants for open positions. At an average cost to replace an employee of $2500, it’s a great money saver for our clients.
With Instant Pay, your employees can immediately access wages earned BEFORE payday using their mobile phone and with no cost to you. Advances are funded by a third party and employees pay the equivalent of an ATM fee for each advance.
Other companies using this service include Target, Nordstrom, Walmart, Costco and Best Buy.
What else can the app do?
And that’s not all our app can do to help you attract, retain and engage your hourly workers on their mobile devices They can add or swap shifts, get shift reminders, and you can adjust staff to changing conditions and more. And, our app integrates with any payroll, scheduling, HR or budgeting software you might be using.
How do I get started?
To get started, all you need to do iscontact us to learn a bit more about Instant Pay.
To Request Information, Contact Us or call Cherelyn Riesmeyer at 800-598-5587
"We enjoy being able to post things in the activity feed. It has an Instagram feel to it. It gives employees who wouldn't normally be able to communicate during their shift a way to communicate and allows you to have information at the tip of your fingers."