OnShift and Payactiv Eliminate Fees For Earned Wage Access To Further Support

(BUSINESS WIRE) CLEVELAND OnShift, a pioneer in post-acute care and senior living human capital management software, and Payactiv, the top earned wage access and financial wellness platform.

today announced they are waiving standard earned wage access (EWA) fees for users of OnShift Wallet, the company's financial wellness product. 

Several EWA distribution methods, such as ACH, will be made cost-free for OnShift Wallet customers who access their earned money in between paychecks.

In order to assist healthcare workers in a time of ambiguity, OnShift and Payactiv eliminated EWA costs at the start of the COVID-19 worldwide pandemic in 2020. EWA is now considerably easier to use and less stressful for elder care workers thanks to this version.

According to Jim Rubadue, Chief Operating Officer of OnShift, "Earned wage access is a significant perk for elder care since many staff live paycheck to paycheck."

"There are innumerable examples of how OnShift Wallet supports carers in difficult situations. We are pleased to do away with access fees in collaboration with Payactiv to help the elder care workforce even more.

The most recent version of OnShift Wallet offers reduced fees in addition to improved customer advantages like:

To define financial objectives and automatically set aside a percentage of income, use the SmartSave tool.

• Free one-on-one financial counselling and resources for financial literacy

• Feature for peer-to-peer payments

• Using earned income to arrange trips through integration with Uber

• expanded automated bill-paying options that work with more than 75,000 billers

• Additional promotions on petrol, movie tickets, and other items

We are doubling down on our commitment to deliver stability, dignity, and savings to the millions of employees enduring financial hardship by working with OnShift to give new free methods for the elder care workforce to access their earned pay. remarked Safwan Shah, Payactiv's founder and CEO.

All OnShift customers may use OnShift Wallet for free, and it works perfectly with the company's labour management programmes. OnShift Wallet users have made approximately 532,000 transactions totaling more than $54.7 million in accessed earned income so far this year. 1

Users of OnShift Wallet often respond to surveys to give more information on their prompt access to earned income.

2 Results of the survey so far this year showed:

• 91% plan to use the money for rent, groceries, bills, and other unplanned needs.

• 76% didn't pay late fees, payday loan fees, bank overdraft fees, or other expenses.

• 90% would suggest their place of employment to a friend.

• 95% of people would suggest OnShift Wallet to friends or coworkers.

What is OnShift? 

The connection between healthcare firms and their workers is transformed by OnShift's human capital management software platform, from hiring to retaining staff to everything in between.

People want to work in an environment that uses an innovative approach to recruiting, hiring, workforce management, remuneration, and engagement.

OnShift software is used by thousands of elder care businesses to significantly lower turnover rates, cut expenses, and enhance care quality and continuity. With the help of a single integrated software platform, we are committed to reimagining the employee experience while providing managers with useful information and insights throughout the whole employee journey.

The comprehensive software package from OnShift was created with post-acute and elder living institutions in mind and includes:

• Talent Identification

- Automated background checks, an applicant tracking system, electronic onboarding, &

employing analytics

• Workforce Administration

- Monitoring and recording of time and attendance, personnel scheduling, labour management, and

system of communication

• Employee Retention and Engagement

- Employee surveys, performance evaluations, computerised incentive programmes, and tracking of new hires,

Employees' access to early pay and financial well-being

Monitoring and Compliance

- Time tracking, recruiting analytics, staff usage, monitoring of time theft, and payroll-based journal reporting

About OnShift, Inc. 

The interaction between healthcare firms and their workers is radically changed by OnShift's cutting-edge human capital management platform. People want to work in an environment that uses an innovative approach to recruiting, hiring, workforce management, remuneration, and engagement. 

Because of this, OnShift's complete suite of software and services is used by thousands of healthcare organisations to significantly lower turnover rates, cut costs, and enhance the quality and continuity of treatment.

About Payactiv, Inc. 

The major source of Earned Wage Access is Payactiv, an award-winning certified B-Corp that provides a range of financial health services aimed at enabling individuals to participate in the economy they helped to create. 

Millions of workers who suffer with cash flow between paychecks are given a fair playing field by our platform and digital wallet, which supports more than 2000 enterprises.

Payactiv has also won awards for "Best Innovative or Emerging Tech Solution" at the 2022 HR Tech Awards, "Best Wellness Program" at the California Excellence HR Awards, and "All-in-One Digital Wallet and Livelihood Platform" with a Silver Stevie® Award. Visit www.payactiv.com to learn more.

Between January 1, 2022, and September 9, 2022, 1 OnShift users had access to $54,742,787.

2 The polls were conducted from January 1 to September 9, 2022. Between 10,642 and 19,024 survey responses per question were received.

Contacts

Marti Bowman

Chief Marketing Officer

OnShift, Inc.

mbowman@onshift.com

216-920-5038

Maggie Vautrinot

PAN Communications

onshift@pancomm.com

774-218-1509