SMB focused, people management platform, Employment Hero, has begun rolling out a new suite of employee-focused features called WorkLife, designed to help dollars go further for everyday Australians.
The new features will help employees better access, manage and save their pay, allow their income to stretch further, improve overall work-life balance and create tangible benefits for life outside of work.
Employment Hero’s new platform features include a market-first tool called InstaPay, which allows employees to access earner wages before payday; a real-time savings dashboard called Savings Hero, to empower employees to monitor and manage their savings; an enhanced discounts and benefits marketplace called Hero Shop; and, a content educational portal called Life Hero, designed to improve employees’ personal and financial wellbeing.
The launch of WorkLife accompanies a new nationwide study from Employment Hero (and administered by YouGov Galaxy) that uncovers the latest insights into the state of employment in Australia, and its impact on the daily lives of everyday Australians.
The study sampled 1,001 full and part-time workers across Australia and found that half of Australian employees admit to having difficulty meeting financial commitments, with power bills and credit card balances causing the greatest problems. A staggering 2.5 million workers have taken out a payday loan to meet these financial demands, highlighting the growing amount of debt everyday Australians’ possess.
Ben Thompson, founder and CEO for Employment Hero, said: “Australia’s wage price index has trended steadily down over the last decade, impacting directly on employees’ standards of living. With the roll-out of our new suite of features, we are alleviating this burden by assisting, advocating and empowering today’s workforce, and truly transforming the conversation around wages.”
Thompson added: “Technology has allowed us to spend anytime and anywhere, but it hasn’t given us access to our own money any quicker. Instead, Australians have slowly taken on more debt through loans and credit. We want to break this cycle by giving employees access to their own money, when they need it most. On this point, we’ve found that both the prospect of setting your own pay date and tracking spending and savings is especially popular among millennials — who are the future workforce, after all.
“By making an everyday dollar go further and most importantly, taking a more a serious approach to employee wellbeing and happiness, Employment Hero has the opportunity to change an employee’s minimum expectations of employment without it costing employers more. We’re insanely proud of these new features, which are the result of 20 years fighting to make employment easier to manage and more rewarding for everyone,” Thompson said.
To access the full report, visit: http://go.employmenthero.com/employee-report