Employee benefits are on everyone’s mind. Employees want more (can you blame them!) and employers don’t want to break the bank keeping employees happy and engaged. The foosball table in the break room is not going to cut it anymore. I’m not sure it ever did, but less now than ever before.
In 2016, Millennials became the largest cohort in the Canadian workforce. Millennials are strapped with debt and bankruptcy for them is on the rise. With that in mind, it is safe to say that a sizable portion of your employees would see payroll advances as a benefit. However, in most businesses, it is rarely an option. There is a cost to administer the advances from HR resources to increased payroll service provider fees. Advances also introduce a potential cashflow issue to the business, especially if the majority of employees are asking for them.
There’s an app for that… ZayZoon! We love to showcase productivity apps to make businesses more efficient and profitable. This app provides a way to get employees money sooner without tying up any of the company’s resources. It acts as a short-term lender before that pay cheque arrives. I am not going to spend too much time here gushing over ZayZoon, but I will say that we have included ZayZoon in our app selection for clients that have payroll services with us.
Forget the foosball and get ZayZoon.