Pay Advance with Workforce Dimensions

Employee wellbeing, improve retention & productivity

Pay Advance

Everyone manages money differently. Sometimes having to wait until payday can mean falling back on high-cost debt, like a payday loan or overdraft. With Pay Advance, employees can draw down their pay as they earn it, making it easier for them to budget. This helps them avoid debt, improve their financial wellbeing, and it also increases productivity and retention.

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Features and Benefits

The case for Pay Advance

Research conducted by Salary Finance in 2018 found that 34% of working people regularly run out of money before payday. Additionally, 51% are saving less than £50 per month with 28% saving nothing at... show more

Research conducted by Salary Finance in 2018 found that 34% of working people regularly run out of money before payday. Additionally, 51% are saving less than £50 per month with 28% saving nothing at all. The consequence for many employees is a reduced ability to budget for both unexpected and regular expenses. As a result, the average adult relies on a credit card or overdraft to get through to payday for a third of the year. This factor led to 40% of the UK employees surveyed stating that they’re worried about money. show less

How Pay Advance works

Pay Advance allows employees to access 50% of what they have earned but have not yet received during the pay period. Our integration with Workforce Dimensions™ allows us to accurately assess how much... show more

Pay Advance allows employees to access 50% of what they have earned but have not yet received during the pay period. Our integration with Workforce Dimensions™ allows us to accurately assess how much an employee has earned, even for employees that are paid hourly. show less

Charges and fees

There is no financial cost for an employer offering Pay Advance. Employees pay a £2.99 fee for each transaction, and there is no interest, because this isn’t a loan. Additionally, Salary Finance funds... show more

There is no financial cost for an employer offering Pay Advance. Employees pay a £2.99 fee for each transaction, and there is no interest, because this isn’t a loan. Additionally, Salary Finance funds the advances so there’s no impact on cash flow. show less

Ongoing management

Pay Advance is simple for employers to manage. Salary Finance works with existing payro... Learn More

Pay Advance is simple for employers to manage. Salary Finance works with existing payro... Learn More

Details
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Free Edition
Free

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