Two Big Benefits to Using Pay Access in 2020
It’s no secret that we’re living in uncertain times. Because of the coronavirus, the number of events that have been canceled, people working from home and out-of-stock grocery items is unprecedented. Global cases have been in the six-digit range for some time now and every area of our lives has been affected.
Pay access with solutions like Spentra is more valuable than ever thanks to two specific benefits that they provide. Let’s take a look at them.
Benefit #1: Reduced Social Contact
Whether you call it social distancing, reduced social contact or something else, it’s important that most of us limit contact with groups of people for the foreseeable future. Part of that is limiting opportunities to transfer germs. Paper money is being shunned because of its potential to spread the virus, but should we be taking a harder look at paper checks?
Because of their sensitive/important nature, paper checks must be handed off physically, which increases social contact—especially if multiple employees are gathered to receive them. With pay access, however, employees can have digital access to their funds and avoid paper checks for the time being. If they work from home, this eliminates most social contact.
Benefit #2: Increased Financial Flexibility
Another big benefit of using pay access in 2020 is the increased financial flexibility it provides. With Spentra’s Money Earned® feature, employees can access up to 50 percent of earned net wages at any time before payday. This can come in handy if there’s an opportunity to stock up on needed essentials or if there’s a reduced number of hours available for employees.
Also, coronavirus tests are often free, but it’s still going to cost you, according to reports from publications like the New York Times. Add in regular bills and other unexpected expenses and it’s easy to see how recent events can cause a financial strain. With pay access, however, more people have the financial flexibility to handle their given situation.
Finding the Right Pay Access Solution
While there are options like payday loans and other payroll cards, there’s no solution quite like pay access delivered from Spentra. We’re an industry leader you can count on for reliable payroll management and can quickly implement pay access at your company so that all of your employees can enjoy reduced social contact and increased financial flexibility.
If you’re interested in getting Money Earned® at your place of business, contact Spentra today.