Most employees live with a limited financial reserve, and every unexpected expense can turn into a serious problem. Even though they have a job, a sense of financial security is often missing. Financial health should be a priority for any company that wants loyal, focused, and motivated employees.
Financial stress isn't the exception. It's an everyday reality
Nearly 70% of employees in the Czech Republic have a financial reserve that lasts a maximum of three months, and more than a fifth (22%) have none at all. Over 53% of people manage on their salary only with difficulty – most often at ages 35–44, the period with the greatest life commitments (JobsIndex, 2024).
These numbers show that financial stress is not a marginal issue. It affects the majority of working people and carries over into work life – it hurts concentration, increases absenteeism and turnover, and lowers engagement.
Earned Wage Access leads to peace of mind
It hurts most between paydays. That's why the Earned Wage Access benefit from Advanto lets employees access their already earned wages at any point during the month.
No complicated administration, no impact on cash flow, no humiliating trip to the payroll department. An employee can simply withdraw part of their wages in the mobile app the moment they need it, avoiding micro-loans, debt traps, or unnecessary stress.
It's no coincidence that 32% of employees would appreciate new or higher financial benefits in the event of financial trouble (JobsIndex, 2024).
Impact on company performance
When employees don't have to deal with existential problems between paydays, they're calmer, more productive, and more loyal. Companies that have introduced this benefit confirm:
- turnover down by up to 28%
- 2× more responses to job postings
- up to 31% more hours worked
- higher employee satisfaction
Financial security is priceless.
Knowing there's a way to draw on part of their pay brings employees peace of mind and confidence when dealing with unexpected situations. Earned Wage Access is a simple but powerful tool that gives people back control over their own finances. And it shows companies that their employees are in better, more stable shape – both personally and professionally.
Want to learn more about Earned Wage Access? Get in touch with us. We'll be happy to show you how simply it can work for your company too.
