Tackling Turnover: Attracting & Keeping Hourly Workers How do - - PowerPoint PPT Presentation
Tackling Turnover: Attracting & Keeping Hourly Workers How do you attract and retain top talent? Offer INSTANT ACCESS TO EARNED WAGES Life happens between pay periods This is a movement gaining steam and will be mainstream within the
Tackling Turnover: Attracting & Keeping Hourly Workers
This is a movement gaining steam and will be mainstream within the next 18 to 24-months.
Would you ever take food off the table of one of your valued employees under financial pressure? Of course not, but… You may unintentionally be doing just that by not offering instant access to earned wages Forbes states 78% of all workers live paycheck to paycheck
to paycheck THERE’S THIS THING CALLED...
Many hourly workers live paycheck to paycheck and experience a variety
financial pressures between pay periods that impact their productivity and focus on the job. They are distracted with life. Instant access to earned wages gives them an affordable and ethical option to relieve their financial pressures avoiding predatory lenders, drawing from retirement savings, and costly overdraft fees.
“I’m out of gas and out
“I have no money and no food in the fridge”
Payday is 5-days away and…
“My kid is sick and I have no money to cover a doctor’s visit or pay for medicine” “The electric company sent me a disconnect notice”
WORKERS DON’T JUMP FROM ONE EMPLOYER TO THE NEXT BECAUSE THEY’RE GREEDY…IT’S BECAUSE OF LIFE
UNEMPLOYMENT
HARD TO ATTAIN
ANNUAL TURNOVER
HARD TO RETAIN
COST TO HIRE A NEW EMPLOYEE
WHEN THESE WORLDS COLLIDE
Cost of replacing one employee
BRANCH DRIVES FINANCIAL RESULTS FOR YOUR COMPANY
Decrease in employee turnover
Per employee cost of absenteeism
Decrease in employee absenteeism
Estimated cost savings per 1,000 hourly workers
SOURCES: https://www.investopedia.com/articles/personal-finance/070513/causes-and-costs-absenteeism.asp https://www.qlicket.com/knowledge/index.php/2018/06/03/total-cost-replacing-typical-hourly-employee http://unruhenterprises.com/wp/wp-content/uploads/2019/03/State-of-Workplace-SHRM-Skills-Gap-and-Workplace-Immigration-Research-2019.pdf
per WHY IS THERE HIGH TURNOVER WITH HOURLY WORKERS?
Not because they’re greedy, but because of life…
across the street, they’ll leave for a $0.25 increase in hourly wage.
access to earned wages across the street, they’ll leave to get instant access to their earned wages.
This program empowers your employees with instant access to earned wages at the low-cost of a typical ATM fee to help deal with life between pay periods…all in one simple to use mobile app that includes free budgeting and communication tools
ZERO COST - ZERO RISK - ZERO INTEGRATION Company-Sponsored Employee Benefit Program
BUDGET
Deal with financial unpredictability
ACCESS
Instant access to wages
earned
GROW
Corporate communication, resources, internal opportunities
ATTRACT AND RETAIN BY SOLVING FOR THE NEEDS OF WORKERS
Instant access to wages earned
minus advances and fees
Smarter planning
Career Development
Sign Up
Employee registers with their device and selects where they work.
01
EMPLOYEE SETUP
Sign Up
Employee registers with their device and selects where they work.
Enter Debit Card or Payroll Card
Employee enters in their debit card or payroll card where they receive their direct deposits
01 02
EMPLOYEE SETUP
Sign Up
Employee registers with their device and selects where they work.
Enter Debit Card or Payroll Card
Employee enters in their debit card or payroll card where they receive their direct deposits.
Set-up Branch Pass-through Account
Branch generates a pass-through account routing their *funds to their debit or pay card *minus amount Branch advanced
01 02 03
EMPLOYEE SETUP
Directory
A list of employees in the company to receive onboarding materials.
2
Time & Attendance
Employer provides daily or Branch can rely on employee’s device location services.
3
Locations
Branch needs list of locations in the organization that will be setup with Branch.
1
Enterprise provides
ENTERPRISE SETUP
LOW FRICTION SETUP FOR ENTERPRISES
Hourly Wage
Employer sends gross payroll (usually found
calculate employee hourly wage.
4
Access Earn Insights
PREMIUM SUBSCRIPTIONS
ADDITIONAL ADD-ONS FOR ENTERPRISES Additional features can be added by companies on flexible SaaS pricing on a per user basis
PREMIUM ENTERPRISE ADD-ONS FREE FOR ENTERPRISE Grow Budget
Opportunities to pick up additional shifts
wages
Earn
Unlock people data at scale
KUM & GO CASE STUDY
managers
CHALLEN ENGE
swaps with neighboring stores
employees in their district and region
SOLUTION KEY STATISTICS
Reduction in overtime
Reduction in turnover
Decrease in shifts worked by GM’s
TACO BELL CASE STUDY
CHALLEN ENGE
Branch
SOLUTION Mobile adoption
KEY STATISTICS
Monthly employee transactions Increase in shift coverage rates when instant access to wages was offered
This is a great app that sends me my money when I need it
ervice e Cham ampion, Taco Bell
“ ”
RELIABLE
Employees see funds as soon as they start.
COMPLIANT
Deducted from from employer paycheck — compliant nationwide
LOW FRICTION
Only three steps to get started for employees.
BENEFITS
ENTERPRISE Working with enterprises we’re able to offer a secure, compliant, and reliable solution that is easy to use