Hi all! Has any of you come across / considered an employee benefits called Earned Wage Access?
I know of some employees who have requested to be paid in advance of payday to cover emergencies - and this has come up a few more times due to COVID. We would do ad-hoc payments to accommodate these, but it adds quite a bit of admin work for the company to process these deductions and make sure they are done/reconciled correctly. With an Earned Wage Access solution, this will be done automatically and allows our staff to get access to a portion of their wages at any point in the month.
Have any of you considered this solution as well, as a benefit to your staff?