Employees that have access to their earned wages show greater motivation and productivity. When employees are less stressed about their financial situation, they are less stressed at work, miss fewer shifts, and have an increased interest in picking up additional shifts to access their wages.
With Rain, companies have a competitive advantage in the hiring market. For applicants that expect on-demand pay, offering this benefit through Rain is an additional reason to seek employment somewhere they will have greater financial stability.
Losing talented staff can cost companies across the nation millions per year. The cost of hiring, training, and getting new employees up to the same level can sometimes take more than 6 months. By leveraging Rain as an employee benefit, teams will stay employed and engaged, improving retention across the company.
As a business contends with the repeated need to replace outgoing staff and train new ones, employee turnover solutions become a top priority. Employees that struggle with financial insecurity may feel the need to search for an additional job to supplement their finances. Pair earned wage access with a positive working environment, and you have the ultimate employee turnover solution.