Senior Care Employees Gain Real-Time Access To Their Wages Through New Enhancement To OnShift Wallet
Cleveland, OH – April 9, 2019 — In the ongoing evolution of its cloud-based software suite to solve workforce challenges in healthcare, OnShift® today announced the OnShift Wallet Visa® Prepaid Card. This card is an enhancement to OnShift Wallet powered by PayActiv, a mobile app that eases employee financial stress through timely access to earned but unpaid wages. With the new card, employers gain an additional, convenient way to offer earned but unpaid wages to employees as well as a direct deposit option for earned wages to those without a bank account.
“The labor market is the most competitive it has ever been. Senior care providers are going head-to-head for talent with big box companies, major retailers and other organizations that innovate in how they hire and keep employees,” said Mark Woodka, CEO of OnShift. “The only way for providers to win the competition for talent is by offering modern, employee-centric services that accommodate the needs of today’s worker. OnShift’s financial wellness platform with the new prepaid card gives employees what they want: streamlined access to their wages and a financial safety net for when they need it most. Providers not only gain an edge by showing staff that they care, but they also succeed in attracting and retaining employees by demonstrating a commitment to financial wellness.”
Key benefits of the OnShift Wallet Visa Prepaid Card include:
- Easy Card Management: Employees can quickly and easily check their balance and manage their account through the OnShift Wallet app anytime, anywhere.
- Real-Time Access: Employees have access to their funds in real-time, which can include their standard paycheck and their earned but unpaid wages.
- Affordable and Convenient: There are no fees for enrollment or to withdraw cash at any MoneyPass ATM located throughout the United States.
OnShift Wallet powered by PayActiv gives employees financial peace of mind and financial advice with access to earned wages, between paychecks, to better manage expenses. Employees can access up to 50% of their current earnings, through a bank transfer, for a small transaction fee, helping to ease financial stress.
With OnShift Wallet, employers now have three options to pay their employees: direct deposit, bank transfer and now, the OnShift Wallet Visa Prepaid Card.
- 44% of Americans are under financial stress with less than $400 in liquid savings. [i]
- Four out of five employees say personal financial issues affect their job performance, leading to an increase in stress, an inability to focus and absenteeism and tardiness. [ii]
- 55% of employees worry about how they will pay for their next unexpected expense. [iii]
- The senior care industry faces a 50% turnover rate for direct care staff. [iv]
- 77% of millennials are likely to be attracted to another company that cares more about their financial well-being. [v]
About OnShift, Inc.
OnShift delivers cloud-based human capital management software and proactive services to solve everyday workforce challenges in healthcare. Our suite of products for hiring, scheduling and employee engagement drives quality care, lower costs and higher performance by empowering providers to staff consistently and efficiently. Intuitive design, predictive analytics and customer success management are why thousands of post-acute care and senior living organizations rely on OnShift. For more information visit www.onshift.com.
[i],[iii] Employee Financial Wellness Survey 2016 results, PwC, 2016.
[ii] Employees’ Financial Issues Affect Their Job Performance, Society for Human Resource Management, 2016.
[iv] American Health Care Association 2012 Staffing Report, American Health Care Association (AHCA), 2012.
[v] Report on the Economic Well-Being of U.S. Households in 2016, Federal Reserve Board, 2017.
The OnShift Wallet Visa Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Certain fees, terms and conditions are associated with the approval, maintenance, and use of the Card. You should consult your Cardholder Agreement and the Fee Schedule. If you have questions regarding the Card or such fees, terms, and conditions, you can contact us toll-free at (877) 747 5862, 24 hours a day.