Michael Abram
SVP Customer Success | Jobcase
8 months ago
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Wage Advances should be a FREE benefit!

I just read this article and it went on and on about the concerns that advocates had for people using the services because of the associated costs of doing so. Then I read on and noticed the fee was $8/month per employee!

This should be a no-brainer benefit that companies just provide to their employees. No change to their payroll or accounting, simply pay the fee for the benefit and their employees can access their earnings at no cost to themselves and make sure they never get hit with high fees from a missed bill or a paycheck loan.

It would also make traditional employers more competitive with the new wave of gig opportunities which let you get paid multiple times/day if you want.

This seems like a huge missed opportunity, what do you think?

https://www.bostonglobe.com/2020/02/10/business/apps-let-workers-access-wages-instantly-what-cost/

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Lenin Pina
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Great read Michael Abram ! I wasn't aware these 'cash advance' type payroll options were available. I would caution, however, the way these products are marketed to workers. Especially those within the entry level or low wage brackets.

Transaction fees, yearly interest charges and other hidden fees can keep this workforce underwater and turn whats perceived as a benefit into a nightmare.

Your suggestion is right on! Employers should offer this as a free benefit to their employees. This a huge hiring incentive, great for employee retention and a moral booster for the companies culture.

Awesome find Michael Abram . Thanks for sharing!

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