Here’s How to Improve Hiring and Retention Using EWA

In today’s market, virtually every organization is struggling with hiring and retention. The “Great Resignation” (or “Great Reshuffling,” depending on which term you prefer) shook up the job market, and employers are having to bend over backwards to attract and retain top talent. If your home care organization is facing these challenges, you’re not alone—but EWA can help.

Employers sometimes go to great lengths to solve hiring and retention issues, offering expensive signing bonuses, day-to-day perks and tokens of appreciation, and other grand gestures to appeal to candidates. And while these initiatives may succeed in the short term, they often fail to address real wants and needs for employees.

Here’s one example of a widespread need for employees: according to a 2019 Visa report, eight in ten US workers are living paycheck to paycheck, and 44% have less than $500 saved in the event of unexpected expenses. As you might expect, the majority of these employees (68%) feel that these personal financial struggles are impacting their health. Even more compelling, 84% of employees worry about their finances while they’re on the job.

At Keeper, we believe that the best way to improve hiring and retention is to go straight to the source of employee concerns: their finances. So, we offer EWA (earned wage access), which gives employees access to wages from shifts they’ve already completed.

Effectively, EWA makes any day payday. One major cause of financial stress among employees is that major expenses and financial needs don’t always line up with payday. Anything can happen between paychecks, and for better or for worse, employees are carrying this financial burden on the job while they wait for their pay. EWA eliminates this stress, providing access to wages from completed shifts anytime. It’s truly a revolutionary move towards employee wellness and satisfaction, and it’s becoming a perk that employees expect from top organizations across the country.

With that context in mind, here are just a few stats that illustrate the impact of EWA on hiring and retention:

  • Keeper partners are able to fill open positions twice as fast, using EWA as a negotiation tool to stand out from other similar home care organizations.
  • Keeper partners report 25% higher employee retention after implementing their EWA offering.
  • Recruiters often use same-day pay as their #1 recruiting tool, attracting a wider applicant pool and more qualified candidates.
  • Keeper partners report 2.1x more candidate clicks on job postings.
  • According to the 2019 Visa report, 95% of employees want to work for an employer that offers EWA, and 89% would stay longer with an employer that did.

As you can see, Keeper affects every facet of the hiring and retention conversation, and we’re proud to support employers as they offer this critical employee perk. If you’re curious about how EWA might boost your own hiring and retention stats, let’s chat!