You know how difficult is it to find and keep talented help in this very-low percentage unemployment market. Employees will literally jump ship for $.25 an hour. You know what it costs you to train a new hourly-employee; $1,000, $2,000, $2,500, $3,000...more? The national average is a whopping $3,250! And, we've seen attrition rates as high as 400%! It is incredible, not to mention unsustainable.
So, we have some very potent Rx...Pay your employees when they want to be paid! The effect is more profound than you can imagine.
Simply, employees can withdraw funds against their upcoming paycheck any day of the week, any time of day…payment is instant. You are not funding this advance…we are! For a small fee of just $3.99/transaction…about the same as they would pay for any out-of-network ATM transaction, your employees will be protected from predatory lending vehicles like "pay day loans," "cash for titles," 401K withdrawals, etc. This is an incredible benefit that will reduce attrition, reduce absenteeism, and attract more applicants at no cost to you!
Regardless of what you think, these withdrawals are not for trivial purposes. The data show that the #1 reason employees utilize this service is to buy food for their families. They live paycheck to paycheck. Maybe you've been there yourself at some time in your life?
To date the data says;
- Your employees want it -74% of hourly workers surveyed said they would use our mobile same-day pay feature for instant access to their earnings, but…
- There is actually more than 85% adoption by employees where the program is offered – data is based on many thousands of client's hourly employees
- Job seekers are more likely to apply to your company because you offer same-day pay over your competitor that doesn’t...You can crush the competition…just advertise you offer “same day pay” and attract 60% more applicants!
- Employees are 40% more likely to cover a shift if they can take advantage of same-day pay.
- Among companies that offer it, on average, same-day pay decreases turnover by 13%, and absenteeism by 10%
- There is no setup cost and no recurring cost to offer this service!
Maybe you've heard of, or investigated an, "instant payment" platform, but this one has been perfected and could save you hundreds of thousands, if not millions, of dollars via the many additional features on the same application...no other company offers this.
The adoption of Instant Pay is exponential…every business will have to offer it in the very near future. Get ahead of the curve before your competitor does.