Tag: Human Resources

  • 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.

  • Employees Want Alternate Payment Methods, Financial Wellness and Convenient Access to Cash at Work

    In the last several years, employers have begun offering a wider variety of benefits to inspire staff, retain employees and attract quality talent. A recent study by ADP Institute discovered that traditional perks, such as pay raises and medical benefits, are not the only offerings required for employers to remain competitive in today’s job market.

     According to Evolution of Pay, employees desire easier access to their earnings, financial wellness and more payment choices. Research shows that nearly 80% of employees are now willing to accept payment via unconventional means like payment cards, which are rapidly growing in popularity.

    With employee expectations for financial wellness growing as well, having easy access to a surcharge-free ATM that is sponsored by a local credit union or community bank ‒ that can provide financial wellness education ‒ is a growing new favorite benefit among employers and employees alike.

    An on-site ATM provides major benefits to employees and employers alike, such as:

    • Employee Savings. Employees can save thousands of dollars each month in surcharge fees when using an employer-provided ATM. This can be especially important to employees using a paycard, who may be limited to the number of withdrawals they can make each month or penalized with out-of-network fee for using other ATMs.

    •  Improved Security. Off-site banking poses a greater over-all risk. An employer provided, on-site ATM offers a private, secure environment where employees can withdraw cash, check balances and complete transfers with little risk to their physical or financial safety.

    • Convenience. Easy access to an ATM means employees can complete daily financial transactions without a trip to the bank, as well as having access to cash for lunch, vending and drink machines. On-site ATMs also allow employees quick access to payday funds.

    • Greater Time Management. With no need to stand in long lines at the bank or leave the premises in search of an ATM, employees are able to manage their time better, which means less time away from work and more relaxing breaks.

     An employee provided surcharge-free ATM offers multiple benefits to both employees and provides employers with a competitive edge when it comes to recruiting and retaining talented staff.

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

    Give us a call at 866.440.4700, 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.

  • Attract Millennials with Paycards & a Surcharge-Free ATM as an Employee Benefit

    Each generation has its own values and expectations. Rather than the work-life balance desired by many Gen Xers and their older cohorts, Millennials desire work-life integration. The younger, tech-savvy generations prefer non-traditional incentives that allow them to create synergy between all areas of their lives, such as work, school and family. Since Millennials are expected to comprise 75% of the workforce by 2020, employers need to get creative with their employee benefits.

    In recent years, one major point of contention for Millennials is the difficulty to bank within the traditional 8 a.m.-5 p.m. shift. It can be nearly impossible to manage weekly banking needs within the space of a few minutes while lines of other financial institution customers wait impatiently behind. This creates competition between employee’s defined work schedules and their financial obligations.

    Although direct deposit is the norm, employees are looking to their employers and alternative financial institutions for hassle-free access to their money.

    Payroll Cards as an Alternate Form of Payment

    According to a 2015 FICO report, Millennials continue to embrace non-traditional methods of banking, and approximately 56% of participants between the ages of 18 and 24 either use alternative payment services or are planning to do so. One way for employers to help meet the growing demand for work-life integration and easier cash access is to institute a paycard or payroll card program.

    A recent study by CSFI indicated that employees with a wide range of salaries, some as high as a $100,000 per year, choose to use payroll cards. While over 80% of those surveyed have active banks accounts, they still chose the paycard program offered by their employer for sheer convenience.

    Paycard Programs & On-Site Surcharge-Free ATMs as an Employee Benefit

    One noticeable drawback to payroll cards is the fees charged to obtain cash. To combat that problem, Brinks Money Paycards has teamed up with ATMatWork to be able to offer employers ATM options at work for employees such bank or credit union branded and surcharge-free ATM options – to compliment their paycard programs and save employees time and money.

    With an on-site ATM, employees enjoy the convenience of completing routine transactions in a safe and secure environment – using their paycard surcharge-free or financial institution-issued debit cards.

    The combination of payroll cards and fee-free cash access at work is a fantastic employee benefit that allows the work-life integration preferred by Millennials.

    Paycard programs combined with an ATM on-site is gaining popularity among employees – and not just hourly workers – and employers. As an added bonus, instituting these benefits can save employees thousands of dollars in fees and keep employees at work.

    To find out more about offering employees paycads, contact Brinks Money. To offer an ATM on-site as an employee benefit, contact ATMatWork.

    ATMatWork is now offering an Allpoint surcharge-free ATM option. Transactions are free for employees who use some of the most popular paycards and bank at the more than 1,400 financial institutions that are part of the network.

    And best of all the ATM is hassle-free and, in most cases, less than what you pay in insurance for one employee each month.