Get Employees to Work Better? Stream Their Pay.

Get Employees to Work Better? Stream Their Pay.

You may have heard of Earned Wage Access (EWA), but what is it really? EWA, known as real-time wages in Norwegian, is access to earned income. This means that employees can receive the money they’ve earned whenever they want—often daily or weekly. Not only does this benefit you as an employer, but it also gives employees much greater control over their finances.

You may have heard of Earned Wage Access (EWA), but what is it really? EWA, known as real-time wages in Norwegian, is access to earned income. This means that employees can receive the money they’ve earned whenever they want—often daily or weekly. Not only does this benefit you as an employer, but it also gives employees much greater control over their finances.

You may have heard of Earned Wage Access (EWA), but what is it really? EWA, known as real-time wages in Norwegian, is access to earned income. This means that employees can receive the money they’ve earned whenever they want—often daily or weekly. Not only does this benefit you as an employer, but it also gives employees much greater control over their finances.

Iuliia Iushkova and Torny Hesle

Iuliia Iushkova and Torny Hesle

Jun 6, 2024

Jun 6, 2024

A cook preparing burgers on a hot grill, illustrating the effort and dedication of workers in fast-paced industries, where solutions like real-time pay can ease financial stress.
A cook preparing burgers on a hot grill, illustrating the effort and dedication of workers in fast-paced industries, where solutions like real-time pay can ease financial stress.
A cook preparing burgers on a hot grill, illustrating the effort and dedication of workers in fast-paced industries, where solutions like real-time pay can ease financial stress.

From an Employee’s Perspective

From an Employee’s Perspective

Imagine Elias, a 24-year-old student working part-time at a burger chain. His boss decided to implement real-time wages through Celeri (smart boss). Previously, Elias survived on credit cards and instant noodles during the last week before payday, only to splurge when his paycheck finally arrived.

Now, however, Elias receives a small portion of his pay every day, with a larger sum deposited once a month to cover rent, bills, and unexpected expenses like a broken washing machine. This gives Elias much better oversight of his finances, helping him balance his spending more effectively. And he can eat noodles because he wants to, not because he has to.

Imagine Elias, a 24-year-old student working part-time at a burger chain. His boss decided to implement real-time wages through Celeri (smart boss). Previously, Elias survived on credit cards and instant noodles during the last week before payday, only to splurge when his paycheck finally arrived.

Now, however, Elias receives a small portion of his pay every day, with a larger sum deposited once a month to cover rent, bills, and unexpected expenses like a broken washing machine. This gives Elias much better oversight of his finances, helping him balance his spending more effectively. And he can eat noodles because he wants to, not because he has to.

Fresh celery being chopped into small portions, symbolizing how receiving small, daily portions of salary through real-time pay can make managing finances easier.
Fresh celery being chopped into small portions, symbolizing how receiving small, daily portions of salary through real-time pay can make managing finances easier.
Fresh celery being chopped into small portions, symbolizing how receiving small, daily portions of salary through real-time pay can make managing finances easier.

Streaming Wages for Increased Productivity

Streaming Wages for Increased Productivity

While Elias is a fictional example, real data supports the idea that real-time wages are the way forward. Purdue University found that 73% of workers consider finances their greatest source of stress. Real-time wages can help alleviate financial stress by removing the need to spend beyond one’s means.

A study by the Financial Health Network echoed these findings: real-time wages gave employees breathing room, reduced stress, and increased productivity. Unlike payday loans and credit cards, accessing real-time wages via Celeri incurs no interest, ensuring young people avoid falling into debt. The service works on a subscription basis with a fixed monthly fee. This fee can be fully or partially covered by you as the employer, or deducted from the employee’s paycheck.

Young workers think of it as a Netflix subscription—except instead of streaming shows, it streams money. That undeniably sounds cool to them.

While Elias is a fictional example, real data supports the idea that real-time wages are the way forward. Purdue University found that 73% of workers consider finances their greatest source of stress. Real-time wages can help alleviate financial stress by removing the need to spend beyond one’s means.

A study by the Financial Health Network echoed these findings: real-time wages gave employees breathing room, reduced stress, and increased productivity. Unlike payday loans and credit cards, accessing real-time wages via Celeri incurs no interest, ensuring young people avoid falling into debt. The service works on a subscription basis with a fixed monthly fee. This fee can be fully or partially covered by you as the employer, or deducted from the employee’s paycheck.

Young workers think of it as a Netflix subscription—except instead of streaming shows, it streams money. That undeniably sounds cool to them.

But What’s in It for You as an Employer?

But What’s in It for You as an Employer?

Real-time wages not only act as a catalyst for motivation but also as a magnet for attracting employees. A Harvard study shows that real-time wages encourage people to stay longer in their jobs, while another study reveals that 79% of workers would be willing to switch jobs for an employer offering real-time wages. While these examples come from the U.S., there’s no reason to believe young workers here wouldn’t also want instant access to their earnings—they’ve grown up in a digital world where everything is available in an instant.

Real-time wages not only act as a catalyst for motivation but also as a magnet for attracting employees. A Harvard study shows that real-time wages encourage people to stay longer in their jobs, while another study reveals that 79% of workers would be willing to switch jobs for an employer offering real-time wages. While these examples come from the U.S., there’s no reason to believe young workers here wouldn’t also want instant access to their earnings—they’ve grown up in a digital world where everything is available in an instant.

A person working late at their desk with a laptop, capturing the determination of employees balancing work and life, supported by flexible payroll options like real-time pay.
A person working late at their desk with a laptop, capturing the determination of employees balancing work and life, supported by flexible payroll options like real-time pay.
A person working late at their desk with a laptop, capturing the determination of employees balancing work and life, supported by flexible payroll options like real-time pay.

A Competitive Advantage

A Competitive Advantage

Offering real-time wages is a clear competitive advantage for your business, both in attracting talent and retaining it. Additionally, it’s an easy way to build trust with employees. Offering real-time wages is like saying, “At this company, we’ve got everything under control, I’m a cool and transparent boss, and of course, you should get paid as soon as you’ve done the work.”

After all, that’s how it used to be, and we believe it’s high time to bring it back.

Offering real-time wages is a clear competitive advantage for your business, both in attracting talent and retaining it. Additionally, it’s an easy way to build trust with employees. Offering real-time wages is like saying, “At this company, we’ve got everything under control, I’m a cool and transparent boss, and of course, you should get paid as soon as you’ve done the work.”

After all, that’s how it used to be, and we believe it’s high time to bring it back.

See also:

See also:

A cook preparing burgers on a hot grill, illustrating the effort and dedication of workers in fast-paced industries, where solutions like real-time pay can ease financial stress.

Artikkel

Get Employees to Work Better? Stream Their Pay.

Iuliia Iushkova and Torny Hesle

Jun 6, 2024

A cook preparing burgers on a hot grill, illustrating the effort and dedication of workers in fast-paced industries, where solutions like real-time pay can ease financial stress.

Artikkel

Get Employees to Work Better? Stream Their Pay.

Iuliia Iushkova and Torny Hesle

Jun 6, 2024

A cook preparing burgers on a hot grill, illustrating the effort and dedication of workers in fast-paced industries, where solutions like real-time pay can ease financial stress.

Artikkel

Get Employees to Work Better? Stream Their Pay.

Iuliia Iushkova and Torny Hesle

Jun 6, 2024

An employee cycling to work, motivated by flexible access to their salary.

Intervju

– More Fun to Work When You Get Paid Right Away

Iuliia Iushkova and Torny Hesle

Aug 15, 2024

An employee cycling to work, motivated by flexible access to their salary.

Intervju

– More Fun to Work When You Get Paid Right Away

Iuliia Iushkova and Torny Hesle

Aug 15, 2024

An employee cycling to work, motivated by flexible access to their salary.

Intervju

– More Fun to Work When You Get Paid Right Away

Iuliia Iushkova and Torny Hesle

Aug 15, 2024

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