Tag: ATM for Employees

  • Help your Staff Financially Recover with the Benefit of an ATM at Work

    Have your employees taken a hit financially due to the pandemic? The latest statists show that nearly two-thirds of Americans (67%) feeling financial strain due to the COVID-19 pandemic.

    Employers can help to alleviate the financial stress by providing staff with convenient cash access in the form of a surcharge-free ATM in the break room. Not only will this allow employees to save more of their hard earned paycheck, it is a benefit your staff will love that provides real value!

    • Surcharge-Free ATM Withdrawals

    • Saves Staff Time & Money

    • Safe, Secure Environment for Banking

    • Keeps Employees On-Site

    • Easy Cash Access for Lunch & Vending

    To set up a 10 minute custom consultation, email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having a workplace ATM and the surcharge-free ATM options we offer.

  • 4 Reasons Financial Wellness Is Important in the Workplace

    Originally published by Huffpost

    Traditional views of wellness focus on exercise and nutrition. And frankly, if everyone ate and exercised perfectly, life would be better for all of us. But counting steps, joining exercise challenges and eating healthy lunches are so much harder when we’re stressed about money. It’s time to take a look at the relationship between financial wellness and overall well-being.

    Here are a few reasons why financial wellness is a critical part of employee well-being:

    Finances are a Major Stressor
    Work isn’t the only thing stressing employees out ─ money can be a huge source of anxiety. In a 2015 PwC survey of working adults in the U.S., 45% of respondents said dealing with their finances is stressful.

    For some, money can be a constant source of stress. In fact, a 2015 report conducted by the American Psychological Association (APA) found that 72% of adults feel stressed about money at least some of the time, and 22% experience extreme financial stress. When it’s extreme, health suffers. Some respondents said they thought about skipping or actually did skip doctor visits because of financial concerns.

    The same APA study found that those in lower-income households with extreme financial stress are more likely to engage in unhealthy behaviors to manage that stress. Think watching TV for hours, ice cream binging and drinking one too many to manage that stress.

    We know that chronic stress is unhealthy on its own, but financial stress multiplies the impact. People may avoid health investments to save money.

    Managing Finances Takes Time
    Managing finances isn’t just stressful, it’s time-consuming. Without control of their financial health, employees bring their worries into the workplace. In fact, 37% of those surveyed by PwC said they spend three or more hours at work each week thinking about their personal finances.

    Some employees even miss work due to money woes, according to a SHRM survey in June 2014. Among HR pros surveyed, 37% indicated that employees had missed work because of a financial emergency. And another study published by Rand in 2015 found that lack of sleep, financial concerns and taking care of family members are negatively associated with productivity.

    Stress is distracting — and when employees worry about their financial wellness, they lose focus and are less productive in the office.

    Employees Want Support
    Employees feel the burden of all this stress, and they want their employers to help support financial wellness.

    Although the SHRM study found 81% of HR professionals said they provide retirement planning to their employees, a majority don’t provide credit score monitoring or financial literacy training.

    But employees, especially those just out of college, want financial planning benefits.

    In a 2015 survey of employees ─ published by Quantum Workplace and my company, Limeade — almost 40% of employees younger than 25 said they wanted their employer to provide these benefits. Employees who feel stress from money issues are looking for help to improve their financial wellness.

    Financial Wellness Improves Engagement
    In our study, 71% of employees surveyed said they want standard-of-living raises — but only 31% of employers provide them as financial benefits. I’m a big fan of market — and merit-based pay — but employers should be aware of cost-of-living realities, especially for lower-paid employees.

    Cost-of-living adjustments account for increased living expenses due to inflation. They may alleviate stress and allow more work focus. When you give employees these raises, they’re 15% more engaged, on average.

    Providing financial benefits also shows employees that the organization cares about them as individuals, inspiring loyalty and motivation. When employees feel their employers care about their health and well-being, they’re 38% more engaged.

    Investing in financial wellness boosts the overall well-being of employees, increasing their health, productivity and engagement.

    To set up a 10 minute custom consultation, email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having a workplace ATM and the surcharge-free ATM options we offer.

  • Why Having Financially Healthy Employees is as Important as Medically Healthy Staff

    “Only about 30 percent of your employees are doing well. The rest need help.”

    Imagine hiring the brightest doctor in the nation to come and assess your employees. After surveying each one, doing a complete examination, and running a series of tests, he comes to you with the news that 70 percent are unwell. How would you respond? Would you get the care and attention to make the company a more healthy workplace? Of course, you would!

    Unfortunately, this statistic isn’t imagined, but it may not be a problem for physicians to solve. According to a recent article, these numbers reflect the financial health of most Americans. Financial wellness is often overlooked but plays a critical role in the health of any organization. Not buying it? According to data from SUM180, an online financial planning service, 29 percent of employees admit to missing work to deal with stress caused by their own finances. That has a huge impact on your bottom line.

    Employers often think their industry is the exception to the rule despite data proving otherwise. In the article cited above, a survey by research provider Raddon found that 44 percent of responders said they were “very” or “extremely” literate, but when given a financial quiz, only six percent scored an “A.” And to open your eyes on how bad off employees are, a late March report showed 45.4 percent of consumers had $2,500 or less in savings, while 15.6 percent had no savings at all.

    But there is hope, and it’s easier than ever to help your staff. ATMatWork can match your company with a local bank or credit union that will offer a surcharge-free ATM in the workplace for your staff and bring solutions directly to your doorstep. Having a surcharge-free ATMs in your break room will immediately save your employees money. To see more data and the results your company could obtain, download our case study.

    Having a bank or credit union branded ATM in the workplace not only provides staff with savings, but they will consistently educate your employees. Partnering with ATMatWork means you have immediate access to financial pros for questions that can reduce the financial stress of employees. Many offer programs and discounts for the needs of employees that will bring the overall financial wellness of your company to a healthy level. From savings to mortgages, your company will have a financially healthy team working on your behalf.

    To learn more, call at 866.440.4700 or email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Protect your Employees and Provide a New Benefit with an ATM in the Workplace

    Since the first case of the novel coronavirus (COVID-19) was confirmed in the United States in January 2020, life as we know it has changed dramatically. Social distancing, plexiglass barriers, face masks, frequent hand washing, the use of hand sanitizer and meetings via Zoom have all become the new norm.  

    As companies begin to reopen, how to adequately protect employees is on the minds of executives. In addition to following the Centers for Disease Control (CDC) guidelines for workplace safety, many companies are looking for creative ways to make their staff less anxious as they return to work.

    ATM at Work: A Creative Way to Safeguard Staff and Add a Benefit

    There are many advantages to having an ATM in the workplace. It is a convenient way for employees to get cash and do routine banking, it saves employees valuable time, helps workers save more of their paycheck with reduced or no fee transactions, but most importantly having an ATM on-site helps to keeps staff safer in our new post COVID-19 world.

    For many employees, especially hourly employees, cash is essential. According to the latest statistics from the Federal Reserve, 42% of transactions under $25 and nearly 50% under $10 are in cash, and households earning less than $25,000 annually prefer cash to other payment methods.

    Having an ATM in the workplace, exclusively for staff use, is a great way to ensure the safety of your employees and is a benefit your employees will appreciate.

    Social Distancing & Disinfecting – With an on-site ATM, employers choose the safest location for the machine. The company controls other variables, as well, such as how often it is cleaned and sanitized. They can also limit who has access to the ATM, establish perimeters for social distancing, and provide guidance to restrict traffic as needed. Unlike public ATMs, the employer can directly monitor all of these procedures. 

    Cash is Safe: Viruses Don’t Spread Easily on Surfaces – Despite early information that came out during the pandemic, cash is safe according to medical experts and central banks around the globe. The CDC also recently stated that “the virus does not spread easily on surfaces” such as ATMs, although it’s still recommended that anyone touching a foreign surface wash there hands.

    Time is also on the side of company ATMs when it comes to the transmission of any virus. Most viruses live on porous surfaces for no more than 24 hours. Its unlikely employees will touch cash that has been handled by anyone in that time frame. The cash withdrawn from an on-site ATM is most likely to have sat in the machine for much longer than the time any virus would be present.

    Reduced Physical Danger – Beyond the immediate health concerns, an ATM in the workplace will also lessen the physical dangers that employees face using public machines. As life returns to normal, grabbing cash and running errands after a shift or during the lunch break is common for most people. An on-site ATM offers your employees more than just a clean environment, there is little chance of thieves having access to the machine and hacking card numbers. Also, more violent crimes – such as robbery – are dramatically reduced when using an ATM in the workplace.

    Time Saver for Employees – Another advantage of a workplace ATM is the time-savings to employees. Hourly employees can be profoundly positively affected when employers provide an on-site solution. A recent case study conducted at a company in Texas demonstrated the impact. The Texas company employs 650-700 workers and has two full-time shifts. ATMatWork estimates that employees at the location saved approximately 400 hours on average each month. It was demonstrated to be crucial for hourly employees who only have a half-hour for lunch and short breaks during the day.

    Saving More of Their Paycheck – With ATMatWork offering many surcharge-free options, employees and staff can save more of their hard-earned paycheck. The financial advantages of an ATM in the workplace for employees are evident in the study mentioned above. The Texas employees completed 1,325 transactions in the first month. While 517 of these were balance inquiries, which are always free, 732 cash withdrawals were performed ‒ saving employees a total of $5,480.66 in surcharge and bank fees. The employees had previously been using ATMs off-site before the installation and paying an average fee of $4+ per transaction.

    As employees return to work, now is a great time to add an ATM for employee use – to ensure the safety of staff and provide a cost-effective benefit that will help to reduce anxiety and help staff save more of their hard earned paycheck.

    To learn more, call at 866.440.4700 or email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • 4 Ways Employers Can Promote Workplace Wellness

    As the country reopens from the pandemic, there are topics up for debate all over the news and social media. What is not up for debate is that employers should promote workplace wellness and protect workers upon reopening. This task doesn’t have to be overwhelming.

    Here are four tips business owners can implement immediately to facilitate wellness among staff.

    Move Meetings Online. If you haven’t taken this opportunity to move staff meetings, forms, and training online, you are missing the boat. A plethora of tools are available to help any size company transition to and create amazing online experiences to accommodate staff needs. Employers can utilize Zoom, Google Meet, Teams, Slack and more to foster relationships without jeopardizing safety – even if staff is working in the office.

    Establish Strict Cleaning Protocols. The way we do business has changed, and cleanliness is top of mind for everyone. Many salons, retail shops, restaurants, and more are asking patrons to wash their hands or use sanitizer upon entry immediately. Consider implementing similar guidelines for team members. These measures foster a sense of wellness in the organization. All staff should have cleaning supplies handy and should be held accountable for wiping their area and work spaces down frequently throughout their shift.

    Rearrange Your Office. The chances are that even if you’re back in the office, it isn’t the same. Physically distancing desks, chairs and rearranging meeting rooms is a must to protect the well being of employees and guests. Separation is a crucial component in fighting germs. Consider mounting plexiglass on desks and counters, especially if it is a frequently visited area. While it may seem a little odd at first, employees will appreciate the lengths you will go to provide a safe environment.

    Add a Workplace ATM. Allow your staff to do their banking at work and minimize contact with the public by providing an ATM for employee use. Your company can control how often the ATM is cleaned and ensure users regard social distancing guidelines. Additionally, there are a variety of ATM programs available, including low or surcharge-free options that help your staff safe more of their paycheck as well as providing them with a safe environment to get cash and do routine banking. This convenient and cost-effective benefit will save employees time, while keeping them safe.

    As your business reopens, it’s important to keep in mind that the best systems are the ones your staff use. Enforcing new policies is just as important as creating new opportunities to keep your staff safe and providing additional measures that will make them less anxious as they return to work.

    To learn more, give us a call at 866.440.4700 or send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • How to Help your Employees Reach their Savings Goals

    Employers are always looking at ways to attract and retain the best employees. Helping employees reach their financial goals is one such way. And, it doesn’t have to be an expensive endeavor or a burden to staff to create a sense of financial wellness within the company culture.

    A recent survey found that a staggering 43% of employees responding had less than $400 in savings. Another report showed 80% of respondents do not have six months of expenses saved. With these frightening facts, it’s evident employers have an opportunity to build trust with employees by helping reach their savings goals.

    Surcharge-Free ATM as an Employee Benefit

    One very simple, inexpensive way to do that is to place a surcharge-free ATM on-site. The average ATM surcharge in the US is $4.68 and could be higher for employees using an out of network ATM. These fees can add up without the employee realizing it. For example, an employee withdrawing cash at an ATM eight times per month, on average, pays $37.44 or more in fees.

    Putting a surcharge-free ATM in the workplace is one solution a number of companies are implementing. Not only is it a way for employers to help their staff save more of their hard earned paycheck but it is also safe and convenient.

    With a variety of surcharge-free ATM programs available, providing staff with the added benefit of convenient cash access at work has never been easier and in most cases is completely free to the company. It is also hassle free – with ATMatWork staff owning the hardware, handling installation and regular maintenance, and loading cash on a weekly basis.

    For companies that choose to partner with a local credit union or community bank, the financial institution will provide financial education in the form of brochures, on-screen ads, classes or on-site seminars during lunch breaks and be available to answer questions.

    FREE to the Employer | 100% Hassle-Free for HR Staff

    To learn more, give us a call at 866.440.4700 or send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Thank your employees for their hard work and help them keep more of their paycheck with the benefit of an ATM on-site!

    5 benefits of having an ATM at work as an employee perk!

    1. Cash for lunch, vending and the weekend

    2. Saves time. Allows employees to remain at work

    3. Helps staff keep more of their paycheck

    4. Safe, secure environment for employees to do ATM transactions

    5. Competitive advantage for recruiting

    FREE to the Employer | 100% Hassle-Free for HR Staff

    Email us at sales@atmatwork.com to schedule a personalized 10-minute consultation

  • New Trends in Employee Benefits for 2020

    With unemployment rates steadily trending downward throughout 2019, employers are ramping up benefit plans to retain and recruit the most qualified employees. An attractive benefits package sends a message to employees that the business cares about their well being and work-life balance. As 2020 kicks off, here are new trends and developments for employers to consider.

    Flexible Work Schedules

    There is a growing trend of flexible work schedules and remote workers across the globe. Over the last five years, remote work has increased by 44% according to a recent study. Employees who have some control over their schedules feel empowered. It’s easy to understand why employees would cherish the option of not missing a school function or working around other life events that a typical schedule doesn’t accommodate.

    This benefit is a win-win. The result of recent studies show that companies profit from flexible schedules, with reports of more than 4% increase in productivity by remote workers over their in-office counterparts. With many apps and programs available, employees can be consulted with the click of a button.

    Worksite Wellness

    Health education and promoting an improved lifestyle is at the top of many business plans for 2020. It’s no longer uncommon for corporations to partner with gyms to give employees free or reduced-cost membership. Many employers even provide an on-site workout room that employees can use before or after their shift.

    To further reduce costs and make life easier for all employees, on-site clinics have been emerging steadily over the years. As many as 65% of big businesses are expected to have clinics on-site to care for employees and their families. This dedication to health and wellness has a significant ROI since healthier employees will miss fewer workdays.

    Financial Wellness

    Great employers who want to retain top talent understand the need for both physical and financial wellness. HR Technologist reports, “Poor financial health can cause employees to become disengaged or less productive, not to mention triggering a rise in absenteeism.” If an employee is present but missing calls from a creditor or bank during the workday, that stress will ultimately roll over into poor production.

    One easy and low-cost solution for the employer is to put an ATM on-site. Employees can save money by reducing the fees spent at other less convenient locations. If there are financial concerns distracting workers, a quick trip to an on-site ATM to check account balances, move or retrieve funds can solve the crisis. In addition, on-site ATMs are a much safer option for all employees.

    ATMatWork offers several surcharge-free programs so the employer can choose the option that best works for their employees’ individual needs, including ATMs sponsored by local financial institutions that can offer financial wellness.

    To learn more, give us a call at 866.440.4700 or send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.