Tag: Employee Benefits

  • Reward Essential Workers with Added Benefits that Don’t Affecting your Cash Flow

    Offices, schools, manufacturing plants and distribution centers have all had to implement changes this year. It would be hard to find an industry that hasn’t been affected by the global COVID-19 pandemic. Now more than ever work-life balance can be a struggle.

    Many employers want to show appreciation to staff members – especially essential employees – but are restricted by cash flow. While raises and hourly increases may not be feasible, there are a number of ways to show your employees how much they mean to the organization such as adding new benefits or incentives that won’t breaking the budget. 

    Bonus & Incentive Pay

    While increasing pay may not be on the table right now, now is a good time to consider bonuses or incentives. Let’s face it, 2020 has rocked the entire world. Right now, everyone could all use a bit of a pat on the back for a job well done. But beyond that, rewarding efforts, especially if you can mold those incentives around a team. Not only do incentives and bonuses help to build loyalty but, when executed properly, employers who put in incentive programs can also expect to see anywhere from a 25-44 percent boost in performance, according to one study.

    Flexible Schedules 

    Now that the shock of transitioning teams and services virtually has (hopefully) worn off a bit, it is time to reconsider what the office schedule looks like going forward. Even after the country reopened, many large corporations have decided to keep as many of their workers as possible remote. While not feasible in every industry, now would be an opportune time to open communications with your employees around what future schedule suits them and how they feel they can contribute to the bottom line with a more flexible schedule.

    Every company will navigate this differently, what is important is including your employees in the discussion and understanding their collective needs. Building an environment that not only fosters communication, but spurs creativity will impact productivity and the bottom line. 

    Many human resources professions find workers suddenly more loyal after implementing flexible schedules. Zippia reported, “one survey found that 82 percent of professionals surveyed would be more willing to stay with their employer if they were offered flexible scheduling, while 39 percent reported rejecting a promotion or hiring offer or quitting a job because it didn’t allow for flexible scheduling.”

    Added Benefits

    How to better prepare for unimaginable financial crises needs to be paramount for both employer and employee going forward. Having a valued financial partner that works for the employees is one way to show you care for your team’s well-being and is exceptionally easy. ATMatWork can match your company with banks and credit unions that bring solutions directly to your doorstep. For starters, putting up a surcharge-free ATMs in the workplace can immediately save your employees money. To see how one company utilized this partnership, download our case study.

    Banks and credit unions not only provide savings, but they will consistently educate your employees and help prepare them for whatever the future may bring. 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 team working on your behalf.

    Although life is certainly not “normal” this year, there are simple ways you can reward your staff, especially those who are considered “essential,” navigate the new COVID-19 normal without added costs and raises across the board.  

    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.

  • 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.

  • 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.