As the saying goes—life happens. Unfortunately, personal finances don’t always roll with the punches. Whether you or a family member needed medical attention, your car broke down, or you have bills to pay, you need your earned wages and don’t have the time or means to wait until your next paycheck. This problem is more prominent than you may think. In fact, 69% of employees don’t have enough cash on hand between paychecks for unexpected expenses. But, how is it possible to get your wages ahead of your scheduled payday?
With ZayZoon, employees are given access to a portion of their earned wages when they need them at no cost or risk to employers. The 24/7/365 service has been so effective that 89% of employees report it has reduced their financial stress.
How it helps employees
ZayZoon really is as simple as it sounds. A client of ours who works for a packaging company recently had a pipe burst in his basement. Unfortunately, he was a week away from getting his next paycheck but urgently needed the cash to help pay for the repairs and damages.
The client took advantage of ZayZoon’s benefits by telling them exactly how much of his earned wages he needed and where the funds had to be sent. Throughout this process, he leaned on ZayZoons human support staff to walk him through any issues that came up.
The funds were received in minutes.
The scope in which ZayZoon supports workers and businesses extends further than just providing funds. All employees have free access to ZayU, the organization’s financial wellness platform. Through the platform, which can be downloaded through the App store, you have the ability to enhance your financial education, track your spending, and predict when your bank account is going to start costing you money.
We recently spoke with a ZayU participant who was planning on purchasing a new car that costs over $75,000. However, her annual salary could not support a purchase of that size. Fortunately, with the help of ZayU, she was able to recognize that by conducting financial check-ups and taking custom courses.
In addition to building her financial intelligence, she took the time to track her spending and locate areas to save so that one day in the near future, she’ll have the funds to purchase the vehicle she wants.
Why employers need to offer ZayZoon
It shouldn’t come as a surprise that turnover, recruiting, and onboarding is expensive. This is why employee retention is one of the most important aspects of your business. Recent studies have shown that 89% of employees would be willing to stay at a company longer that offers on-demand pay.
On average, businesses that offer ZayZoon as a voluntary benefit experience a 29% reduction in employee turnover and help save businesses the worries of losses in productivity. Providing this benefit is sure alleviate the stresses of your employees and strengthen the culture of your workplace.
If you aren’t taking advantage of ZayZoon yet, what are you waiting for?
Invite your employees to access their earned wages before payday! Click Here