About Onshift wallet website
Unlock stock picks and a broker-level newsfeed that powers Wall Street. OnShift demonstrates support for employee financial wellness with series of milestone achievements CLEVELAND, March 03, 2021 (GLOBE NEWSWIRE) -- OnShift®, a leader in human capital management software for post-acute care and senior living, today announced it has achieved a series of significant milestones with its financial wellness solution, OnShift Wallet powered by Payactiv, including nearly $50 million in early wages accessed by healthcare employees in 2020. In addition, OnShift Wallet’s new Amazon Cash option and a first-of-its-kind debt-free assurance approval reinforce OnShift’s unwavering support for healthcare employees throughout the pandemic. OnShift Wallet provides real-time access to earned wages between paychecks, giving senior care employees financial peace of mind by avoiding late fees or high-interest payday loans to cover bills or unplanned expenses. Payactiv, OnShift’s financial wellness partner for OnShift Wallet, recently became the first and only Earned Wage Access (EWA) provider to gain approval from the Consumer Financial Protection Bureau (CFPB) as its EWA program does not impose a debt on users. The CFPB approval validates Payactiv’s approach and confirms that EWA can be provided without accessing credit. In addition, OnShift Wallet recently introduced Amazon Cash, which allows employees to automatically apply their earned wages to shop on Amazon without the need for a debit or credit card. Amazon Cash is a fast and convenient option, especially for those employees without a bank account. “The effects of COVID-19 continue to financially impact caregivers and hourly workers, many of whom are already living paycheck to paycheck. The nearly $50 million accessed in 2020 shows the critical need for financial flexibility,” said Mark Woodka, Chief Executive Officer of OnShift. “As senior care employees continue to battle COVID-19 and care for our most vulnerable population, the last thing they should have to worry about is not being able to cover bills and basic necessities. We are proud that OnShift Wallet is providing debt-free assistance to those who need it most.” Currently, nearly 400,000 employees have access to OnShift Wallet through their employers. After an employee completes a transaction, they are asked to complete a survey to provide more insight into the transaction. 2020 survey results revealed1: 90% intend to spend the funds on bills, groceries, rent and unexpected expenses 71% avoided paying bank overdraft fees, late payments, payday loans or other fees 89% would recommend their workplace to a friend 93% would recommend OnShift Wallet to a friend or colleagues
Key features of the Onshift wallet website that are enabled through these drivers include:
- OnShift Announces OnShift Wallet Visa Prepaid Card
- OnShift - OnShift Wallet is one of the greatest things - Facebook
- OnShift - [Video] Learn how OnShift Wallet was a - Facebook
- OnShift - OnShift Wallet Customers Transferred Over $7.
- OnShift - We are thrilled to be able offer OnShift Wallet - Facebook
- Introducing OnShift Wallet to Ease Employee
- OnShift Wallet Employee Enrollment Guide
Talking about finances is never easy, but OnShift is working hard to change how employees and employers think about financial wellness. Traditionally, an employee will work and receive their paycheck on a two-week cycle. And every two weeks, like clockwork, their paycheck appears to help them pay bills, cover expenses, enjoy entertainment and hopefully, save.But, we’re in a paradigm shift right now when it comes to money. Instead of employees working and waiting for two-weeks, employees want access to their earned wages quicker. Apps like OnShift® Wallet give employees financial peace of mind with access to earned, but unpaid wages between paychecks. And it’s helping caregivers across the United States in many ways. Here are just a few snippets of the awesome feedback we're hearing from providers.“OnShift Wallet has changed the way we think about employee financial wellness,” said Kim Warnecke, Chief People Officer at Health Care Navigator. “Our employees have immediate access to their earnings, giving them the ability to avoid costly payday loans, late fees and bank overdraft charges. And now that employees can see the funds available to them within the OnShift app, we have seen a 63% increase in the amount of shifts being voluntarily picked up -- helping us reduce or avoid overtime and/or agency use. It’s a true win-win.”"Now that employees can see the funds available to them within the OnShift app, we have seen a 63% increase in the amount of shifts being voluntarily picked up -- helping us reduce or avoid overtime and/or agency use. It’s a true win-win.” - Kim Warnecke, Chief People Officer, Health Care Navigator“OnShift Wallet for us, was a definitely a no-brainer to implement, because it was something that was no cost to the organization, but allowed our associates to take earned, but not yet paid income and have access to that immediately,” said Aaron Fenberg, Director of Human Resources at Singh Senior Living. “If they had a bill they needed to pay or an emergency that came up, they'd be able to have access to those funds immediately, instead of waiting two weeks until payday came along.”We continue to hear stories pouring in about how OnShift Wallet has helped caregivers during times of financial hardship and when unexpected life events pop up. One community, greatly impacted by Hurricane Michael, said their employees were able to quickly access their earned wages, before payday, to help defray the additional costs that their employees might have incurred from credit cards or payday loans.Another client talked about how, without the ability to access their funds early, they wouldn’t have been able to provide a holiday meal for their family. By accessing her funds early, she was able to quickly transfer her earnings to her bank account, pick up food for the family meal and to ensure her family could celebrate together.Nakia Williams, Scheduling Coordinator at Singh Senior Living, recently shared a story of a time when her car broke down, just a little while before her shift. She was able to
