Advanto, the service that helps employees take control of their finances and looks after their financial health through the unique “Pay Anytime” benefit, has joined forces with Up Česká republika, a leading provider of benefits for domestic companies. Thanks to this new partnership, 350,000 employees and part-time workers will be able to access the new benefit directly within the Můj Up platform.
Many HR professionals are asking themselves what benefits will look like in the post-Covid era. Once government measures come to an end, there will once again be a shortage of employees, and the tug-of-war over workforce will flare up in full force once more. At the same time, the world of employee benefits and needs is changing dramatically. What people used to see as an advantage is today, often, simply taken for granted.
Employees care about freedom, flexibility, and work-life balance—time for work, for themselves, and for family, physical and mental health, and financial stability. The move online plays a huge role, too: people want their benefits to be simply available online, just a few clicks away. Employees' attention is increasingly turning toward money, but it's not just about the absolute amount they earn—it's also about better ways to access the wages they've earned and easier ways to manage their personal finances.
That money remains a fundamentally important topic for employees is also confirmed by Advanto's own research and statistics:
- 56% of people spend more than half their income within a week of payday.
- 60% of employees would be unable to cover a one-off expense of CZK 10,800.
- 70% of Czech employees expect help from their employer in the event of financial difficulties.
- 67% of people consider the option to draw their wages several times a month to be a better solution than taking out a loan.
- 57% of people would like to be able to request pay at any time, or a wage advance, through an app on their phone or computer.
Advanto's new benefit
- Gives employees instant access to their own earned wages at any point during the month—all through a smart app on their mobile phone or computer.
- Gives people a safe solution in the event of an unexpected expense, so they don't need to turn to loans, and lets them manage their own cash flow throughout the month more effectively.
- Thanks to automated savings, which Advanto plans to launch soon, employees will be able to gradually build up the reserve they need.
The partnership with Up Česká republika, a leader in employee benefits, has the potential to transform and digitalise the entire employee-care ecosystem and help thousands of people achieve better financial health.
