Wages on Demand

Flexible Wages

Early Wage Access or as Onesto refers to it “Flexible Wages” is a voluntary benefit that allows employees to access their earned wages ahead of the regular payday. Companies that use on-demand pay can improve retention, employee engagement, and fill roles faster.

Schedule a Demo

How does it work?

79%

Will switch jobs to get EWA

89%

Will stay longer if offering EWA

95%

Want access to their wages

Onesto's Flexible Wages service empowers employees with immediate access to their earned but unpaid wages, offering a crucial financial safety net. This innovative solution helps reduce financial stress, improve employee retention, and boost overall engagement by providing liquidity when it's needed most, without the burden of loans or interest.

9 of 10 employees want EWA

Reference: Visa’s research on the impact of Earned Wage Access

Early Wage Access is a benefit to the company but also to the staff who need it. More than half of workers in Australia live paycheck to paycheck. Inevitably, they have unexpected expenses that arise or emergencies to cover. Access to their earned but unpaid wages provides them a safety net in such situations, and helps avoid the need for an expensive short-term loan. Employees who feel financially secure are more satisfied with their jobs and less likely to leave for another opportunity. Early Wage Access benefits employers and employees.

Reduces Financial Stress

Provides employees with immediate access to funds, helping them manage unexpected expenses without resorting to high-interest loans.

Boosts Employee Retention

A highly desired benefit, Flexible Wages increases employee loyalty and reduces turnover, making your company a more attractive employer.

Enhances Productivity

By alleviating financial worries, employees can focus better on their work, leading to improved concentration and productivity.

Zero Cost to Employer

Onesto fronts the wages, and repayment is handled seamlessly through payroll, ensuring no financial burden or administrative overhead for the employer.

Simple & Secure

Employees can access their funds instantly through a secure platform with a transparent, single transaction fee.

Attracts Top Talent

Offering flexible wages positions your company as a forward-thinking employer, attracting and securing high-quality candidates.

Benefits to Employers

The “Great Resignation” is real and we are all aware of the implications it has for employers on their ability to retain and employ. Companies of all sizes and industries are seeking ways to increase retention and accelerate hiring during a severe and unforeseen labor shortage.

At face value, wages on demand pay may seem like a benefit designed only to better the lives of employees. However, it also provides a unique opportunity for companies to improve their retention rates while making it easier to hire new employees.

Wages on Demand can help employees cover unexpected costs, avoid financial stress, and make ends meet during times of need. In turn, this can lead to increased employee satisfaction and loyalty, both of which are critical for retention. For companies facing the Great Resignation, on-demand pay may be the key to weathering the storm.

The EY Study

A study by EY shows that Wages on Demand can help employees better align their income and expenses. The study found that employees who have access to Wages on Demand are more likely to be able to meet their financial obligations, and less likely to miss payments or incur late fees.

In addition, the study found that Wages on Demand can help employees avoid going into debt, as they are only accessing a portion of their accrued wages, and not borrowing money. Wages on Demand is an emerging trend in the workplace, and the EY study shows that it has the potential to provide significant benefits for employees.

of individuals experience financial stress at least once a year

of individuals expenses were due before pay day

of individuals report major impacts on life and well-being as a result of financial goals

Ready to Empower Your Employees with Financial Flexibility?

Discover how Onesto's Flexible Wages can transform your workplace and support your team.

Schedule Demo