Did you know that approximately 125 million American adults struggle to cover $400 emergencies with cash or credit?
Earned wage access was once a unique job perk, but it is now a baseline expectation. Simply put, most workers can’t afford financial surprises.
Healthcare workers definitely feel the financial strain: 57% are stressed about money, another 49% struggle to pay bills on time, and 34% run out of cash before their next check.
Integrating earned wage access into your healthcare payroll system can reduce employee stress and help caregivers focus on providing quality patient care. Instead of waiting for a weekly or biweekly paycheck, staff can access their earned wages when they need them—and this is an increasingly popular benefit that your workforce expects.
Empeon and EWA partners
According to reports, roughly 10 million workers used earned wage products to access about $31.9 million in 2022, and market expansion seems to have continued. In fact, DailyPay shared that 82% of their users reported EWA positively impacts absenteeism, while 96% say it helps them attract new talent. At Empeon, we pay attention to trends like these and this kind of demand. That’s why we’ve partnered with a few leading EWA organizations.
Seamless integrations between Empeon and our partners help power payroll solutions with the right technology for a better financial experience. Our clients can offer employees an easy way to collect a percentage of their wages after a finished shift.
These solutions simplify payouts for HR through a hands-off process. Workers receive pay on demand through a partner without needing to visit healthcare HR or submit a request.
How our EWA partnerships work
Each of our partners integrates directly with the Empeon platform, syncing employee information for easier wage withdrawal. Through secure connections, Empeon partners receive instant updates about hours worked to determine eligibility. Once they confirm work, they can issue pay according to set limits.
In essence, EWA providers front your staff cash based on eligible work hours and limits. These transfers are recorded and deducted from the paycheck. You process pay as usual according to the regular cycle, send the remaining pay to the employee, and reimburse the transfers to the EWA company.
These employee payouts are based on actual work completed, so it is not a loan or an advance. Where an advance is prepayment for work expected to be completed but isn’t yet, earned wage access is simply an early payout for work already done.
These automated early pay requests, payouts, and instant record updates give staff the cash they need without interrupting payroll schedules or processes. It also knocks hours off your HR workload, especially across a large healthcare organization and workforce.
1. Keeper
Keeper is an on-demand pay platform providing early access to employee wages. Designed by healthcare industry experts, Keeper allows employees to cash out part of their wages as soon as their shift is over.
Key features and benefits
The partnership between Keeper and Empeon offers a few benefits for both the employee and your HR teams, including:
- On-demand pay for cash shortfall and early pay access
- Mobile app for easy withdrawals
- Multiple pay disbursement options
- No fees for employers
- Calculations based on real-time data
2. Tapcheck
Tapcheck is a cloud-based platform for same-day pay based on earned wages. Through on-demand pay, staff avoid expensive payday loans and lower their reliance on credit.
Key features and benefits
Like Keeper, Tapcheck integrates directly with Empeon payroll solutions and offers key benefits for staff and HR. These include:
- No costs for employers
- Low service fees for employees
- Instant transfers
- Web-based or mobile app access
- Dashboard to monitor employees
- Free financial education for employees
- Real-time tracking of earnings, transfers, and pay cycles
3. ZayZoon
ZayZoon is a financial wellness solution that gives employees access to wages before payday without extra work for your HR teams. ZayZoon also offers free financial information to empower employees toward better money habits. The platform includes a wider selection of payout options, from credit to bank transfers and gift cards.
Key features and benefits
ZayZoon syncs directly with Empeon for seamless payroll data collection and easy updates. Additionally, the platform offers unique perks for your employees. These features and benefits include:
- Quick employer set-up
- No cost to employers
- Desktop and mobile access
- Financial management tools for employees
- Financial education
- Flexible payouts
- Venmo
- Bank transfers
- Prepaid credit cards
- Gift cards
- Rewards and recognition features
- Send gift cards, money, or shout-outs to hardworking employees
4. DailyPay
DailyPay is an on-demand pay platform that allows employees to transfer a portion of their salary as soon as it’s earned. The platform also offers savings accounts, auto-savings features, and cash-back rewards.
Key features and benefits
The Empeon and DailyPay integration seamlessly connects your payroll data with EWA tools. Set-up is simple, and DailyPay offers support for a custom internal launch, training, employee activation, and onboarding.
In particular, DailyPay benefits you and your staff with:
- Easy employer set-up
- White glove employer support
- Web-based and mobile access
- Flexible payouts
- Bank transfers
- Prepaid Debit visa card
- Cash back rewards
- Auto-savings features
- Savings account
- Free credit checks and monitoring
Build an intentional healthcare HR ecosystem with Empeon
As technology and the workforce evolve, purposeful solutions that simplify and enhance the HR experience are essential. Earned wage access is a simple benefit that can transform the day-to-day for staff, increase productivity, and improve retention. Discover the power of connection with Empeon and our partners. Get in touch.
