You know the feeling; you’re having a great day. Sun’s out. Bills are paid. You’re finally about to check out that new brunch spot you’ve heard so much about, and then the “Check Engine” light comes on.
Now, depending on what kind of person you are, you may let loose a string of your best curse words, shake your fist at the heavens, or simply let out a giant sigh and hang your head in defeat.
Either way, you know a big chunk of your cash is about to go to the repair shop. And if you’re a part of the 63% of Americans living paycheck to paycheck, your only option may be to put the repair on a credit card.
As an employer, there is something you can do to help
Here’s the thing, about a third of working adults would feel fiscally uncomfortable shelling out $400 for a repair, and as the average emergency repair (think leaks, tires, broken windows) costs about $1,400 – that’s not ideal.
If your employees are stressed about money, that’s going to leak into the workplace. It could manifest as lowered productivity, impaired problem solving, poor communication, absences, and even increased healthcare costs.
But your employees don’t have to live paycheck to paycheck,if they can access their funds earned anytime they need them.
When you implement AnytimePay, employees can access their money anytime they need it
Here at Edenred, we help employers provide a myriad of valuable benefits like commuter benefits, meal benefits, Lifestyle Spending Accounts, and today’s subject: AnytimePay.
When an employee registers for AnytimePay, all they need to do is hop into the Edenred mobile app and see how much of their earned paycheck is available.
They can then request those funds and see them automatically deposited. When the regular payday comes along, the remainder of their pay will be deposited as usual.
AnytimePay benefits both your employees and you
Access to funds earned can help your employees deal with life’s emergencies, avoid financial stress, and avoid high interest credit card debt and predatory loans.
This is an incredible perk to offer. Not only does it show you care for your employee’s well-being, but providing it could lead to more consistent productivity, lower turnover, and increased employee loyalty.
Employers, like you, who prioritize common sense benefits like AnytimePay often enjoy a positive brand image, enabling you to attract top talent in a job market where the benefits on offer often seal the deal.
Sign up for AnytimePay today!
At Edenred, we act as your benefits administrator. We run the Edenred mobile app, provide customer support, and ensure all is done in IRS and State-Relative Compliance. That way, you can concentrate on what matters most to you – business and growth.
If you’d like to learn more about AnytimePay, book a meeting with us today. We’d be happy to explain how we can make the lives of your employees easier.
