3 Reasons Why Pay Access Is Appealing to Remote Employees
It’s no secret that more people have been working remotely in 2020 than any year in our history. You could say that the entire work landscape is changing due to COVID-19. Many employers are permanently adopting work-from-home hours for their entire teams, or at least implementing a combination of in-office and remote time. This isn’t changing any time soon, either. Employers are seeing the benefits of remote work (e.g. saving money on utilities) and employees enjoy it.
According to Global Workplace Analytics, “80% of employees want to work from home at least some of the time.” To keep your company appealing to new talent (and to retain current employees), you need to be flexible with your remote work options and other benefits. Pay access with a solution like Spentra is another great way to attract remote talent. Let’s take a look at a few reasons why.
- It’s Easier To Pay Them
For freelancers and contract workers who often aren’t paid as frequently as full-time employees, paper checks are an adequate and secure option. But it’s not as practical for permanent remote employees. There can be a delay in payment, there’s the potential for checks to be lost in the mail and remote employees may relocate or be on the move frequently since they’re not tied down to a physical location. Spentra integrates with your payroll system to give remote employees virtual access to their pay and the ability to easily use it with a payroll card.
- They Can Access Wages Before Payday
One of the most appealing features of pay access with Spentra is its Money Earned® feature, a patented benefit that allows employees to access up to 50% of their net wages at time of request at no cost to the employer. So not only can your remote employees access their pay virtually, they can access up to half of it ahead of time. Offering this benefit can help your company stand out as more and more companies offer remote positions and the demand for remote employees increases.
- Unexpected Expenses Are Easier To Handle
Both of the reasons listed above put the remote employee in a better position for financial wellness. Unexpected expenses like medical bills and auto repairs are easier to handle when the employee has instant access to half of his or her earned net wages. This is an especially big reason why Spentra’s pay access solution helps retain employees, as current employees will think twice before leaving for a position that doesn’t offer them as much financial flexibility.
These are just a few reasons why pay access is appealing to remote employees. To learn more reasons or get your questions about Spentra answered, contact us today.