At its core, earned wage access (EWA) is a way for employees to access their wages before their scheduled payday. This can be done through a variety of methods, including payroll advances, early release of funds from a company bank account, or other methods approved by the employer.
There are many benefits of EWA for both employees and employers. For employees, it can provide much-needed financial flexibility and peace of mind. It can also help them avoid expensive fees associated with traditional payday loans. For employers, EWA can improve employee retention and satisfaction, and may even lead to increased productivity.
In this podcast, we'll explore the ins and outs of EWA, including how it works and how companies can use EWA to great effect.