Improve shift-filling, staff productivity, and retention via Paytime Earned Wage Access. Give your employees the ability to have real-time access to their earned wages, with no change to your payroll or cashflow.
What is Paytime?
Paytime is a HR-tech app that aims to empower Australian workers out of financial stress and into financial security, while improving productivity, shift-filling, and retention.
Paytime enables every worker to have:
• The ability to deal with an emergency or unexpected expenses without resorting to payday loans or credit cards.
• A solid understanding of how to manage their money and nurture financial well-being themselves.
• The tools they need to budget and avoid overdrawn bank fees.
• A “set-and-forget” savings programme.
• Access to a comprehensive library of Mental Health resources and tools.
Why provide Earned Wage Access (EWA) to workers?
Providing EWA to shift-based workers have been proven to deliver up to:
• 20% increase in hours worked: when people can access their earned wages after their shift, they would naturally want to take up more shifts!
• 2x faster shift filling: filling urgent shifts due to sickness or absenteeism becomes much easier when people think of additional shifts as an instant opportunity to earn more money.
• 19% reduction in employee turnover: a revolutionary employee benefit that does not exist in many other workplaces makes people think twice before moving jobs.
• 15% lower absenteeism: stronger link between work and earnings makes people think twice before going absent.
Along with Earned Wage Access, Paytime provides free access via the app to a vast selection of financial education tools, materials and resources, including free, confidential financial counselling sessions by the National Debt Helpline.
How does Paytime work
Paytime is seamlessly integrated with Tanda so it knows the number of hours your workers have worked, and therefore earned. Via the Paytime app, your workers can see the wages that they have earned, and access it 24×7. Any earned wages advanced to your employees can be funded by Paytime, and will be repaid automatically via your payroll software on payday.
See below to see how Paytime works for employees: