OnShift Announces Financial Wellness Software to Help Employees Better Manage Expenses
Long-Term Care and Senior Living Employers Increase Retention by Reducing Employees’ Financial Stress
Aug. 28, 2017 CLEVELAND — In the ongoing evolution of its cloud-based software suite to solve workforce challenges in healthcare, OnShift® today announced a new mobile app to help employees improve work-life balance. OnShift Wallet powered by PayActiv gives long-term care and senior living providers the ability to ease employees’ financial stress through timely access to their earned but unpaid wages.
“Many senior care employees are living paycheck-to-paycheck and are stressed out when it comes to personal finances. Studies have shown that financial worries can have a negative impact on employee performance,” said Mark Woodka, CEO, OnShift. “OnShift Wallet helps relieve some of that stress by offering employees a convenient and easy way to access money they’ve earned, which is extremely helpful during unexpected financial emergencies. OnShift Wallet reinforces OnShift’s commitment to improving the lives of employees in senior care and helping providers attract, engage and retain employees.”
Here’s how OnShift Wallet works:
- Employees can transfer up to 50% of their earned but unpaid wages to a personal bank account – with a $500 maximum transfer allowance per pay period.
- Employees can access their funds for just a $5 fee.
- At no risk to the employer, OnShift Wallet funds the transferred wages to the employee between paychecks and automatically deducts that amount from the employee’s bank account on the scheduled payday.
- OnShift Wallet is available at no cost to employers.
“One of three wildly important goals at New Perspective Senior Living is demonstrating to our team members how much we appreciate and care for them. We see OnShift Wallet powered by PayActiv as a valuable addition to our recruitment and retention program,” explained Chris Hyatt, Partner & COO, New Perspective Senior Living. “With low unemployment and high turnover in most markets, we believe offering solutions like this can only help us in the relentless pursuit of attracting new team members and ultimately increasing overall retention.”
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