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Earned wage access (EWA) — designed to give employees faster access to their wages — is an underused and often misunderstood benefit, according to a new survey of more than 150 human resources leaders.
Instant Financial, a provider of on-demand pay solutions, partnered with HR Dive's studioID to determine how companies perceive and use EWA to attract, retain, and engage employees, and the results are compiled in a new report titled "Earned Wage Access: Is HR Sleeping on This Valuable Benefit?" The survey also explored some of the challenges employers face when implementing EWA; about one-third of all respondents expressed confusion regarding eligibility, payroll integration, and buy-in from senior leadership.
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