Wagestream - Earned Wage Access
Build financial resilience for your workforce with Wagestream Earned Wage Access
There’s been a lot of talk in the news lately about earned wage access (EWA). It’s a benefit growing in popularity due to the positive outcomes it provides for both businesses and their employees.
EWA or earned salary access schemes (ESAS) quite simply allow employees to access their wages as they’re earned. We only ever provide access to wages that have been earned, so there is no borrowing or interest charged.
Running payroll frequently is not really an effective option for many organisations. These solutions provide a way for employees to benefit from increased liquidity without disrupting internal processes or creating more work for the organisation.
More and more organisations are now waking up to the importance of earned wage access. A report by Gartner suggests that, by 2023, 20% of businesses in the US who pay the majority of staff hourly will deploy flexible earned wage access solutions*, leaving the UK behind in terms of pay innovation. Wagestream is already working with 100s brands across the UK and globally and only sees that trend rising.
Symatrix is delighted to be partnering with Wagestream to offer a EWA for the Oracle and XCD platforms. To find out more about how Symatrix and Wagestream can help improve the financial wellbeing of your people we encourage you to take a few moments to visit our survey to measure the health of your employees.
*Gartner report: Empower Workers and Energize Your Employment Value Proposition With Flexible Earned Wage Access, July 2019
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