Even Launches New Employer-Sponsored Financial Benefits Platform
OAKLAND, California, September 28, 2021 / PRNewswire / – Same, a leading financial benefits platform designed to provide financial resilience and control for U.S. employees, today announced the launch of its employer-sponsored platform. Even’s financial benefits platform is the only solution designed from the ground up for hourly workers, a group that has been largely neglected and underserved by today’s financial system. By sponsoring employee access to the platform, employers are able to provide their employees with the financial tools they actually need to reduce their reliance on payday loans, late fees, and overdraft fees, thus increasing their disposable income and their ability to take control of their financial life. . Even’s platform allows employers to configure their early access to salary program, encourage emergency savings contributions, and provide visibility into projected net earnings based on actual hours. Innovative employers, including Noodles & Company and Mattress Firm, are joining PayPal in recognizing the need to invest in employee financial health and to fully sponsor Even as a benefit to employees.
âIn 2019, we started implementing a number of changes to improve the financial health of our entry-level and hourly employees, including reducing health care costs, making every employee a shareholder, increasing wages. and providing financial education, âsaid Traci Memmott, Senior Director of Global Payroll at PayPal. “We are proud to partner with Even to provide our employees with additional ways to manage their financial health, from early access to salaries to budgeting and savings.”
In the United States today, 60% of employees live paycheck to paycheck and more 80M are paid by the hour without visibility, access and flexibility on their remuneration, highlighting the need for employers to do more to support the financial health of their staff, especially in the current economic climate. With Even, employees gain a clear and precise understanding of how much they are able to save and spend in any given week despite their changing schedules and schedules. And when needed, can access their salary earlier.
âEmployers across the country are struggling to rehire today, especially in the hourly worker market. Today’s job market is forcing employers who rely on frontline workers to re-evaluate their benefits and adapt them to be more competitive, âsaid David Baga, CEO of Even. âForward-thinking companies recognize that traditional benefits like 401K and two-week pay cycles don’t meet their needs. We are incredibly proud to work with innovative companies like PayPal, Noodles and Mattress Firm who answer this call.
Even’s easy-to-implement platform allows employers to get started within 30 days; prebuilt integrations with Workday and Kronos further streamline the process. Even’s integrations with HRIS, payroll, time and attendance, and consumer banking systems provide unprecedented financial visibility to employees. This data allows them to make informed decisions, like accessing their pay earlier to cover a bill before payday, taking an extra shift to earn more after looking at their projected income, or budgeting to build up savings. emergency. With this launch and beyond, Even looks forward to continuing to work with forward-thinking employers to create a more financially resilient workforce in the United States.
Even’s mission is to help hourly workers get out of the red. Even’s employer-sponsored financial benefits platform integrates with HRIS, payroll, tally and consumer banking systems to combine access to earned wages with powerful budgeting tools, d Emergency and visibility savings on projected net profits so employees can safely resolve cash flow emergencies today. while building financial resilience for the future. Leading employers like Walmart, PayPal, Noodles, Humana, and Mattress Firm are partnering with Even to invest in the financial health of their workforce. With Even, you can provide your hourly workers with the financial tools they really need, on a flexible, configurable, and mobile-centric platform, helping you build a more resilient and reliable workforce. To learn more, visit www.even.com
Even is headquartered in Oakland, California and has additional offices in Raleigh, North Carolina.
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