New workforce mobile app debuts
OnShift has announced its new mobile app, OnShift Wallet powered by PayActiv.
The app will allow employees to access up to 50% of their earned but unpaid wages, up to $500 per pay period. Employees can access their funds for a $5 fee.
OnShift Wallet will deduct the amount from the employee's bank account on the scheduled payday, and there is no risk for employers, the company said.
The goal is to let employees avoid high-interest loans or expensive late fees, and to give employers a way to improve morale and reduce turnover.
“One of three wildly important goals at New Perspective Senior Living is demonstrating to our team members how much we appreciate and care for them. We see OnShift Wallet powered by PayActiv as a valuable addition to our recruitment and retention program,” said Chris Hyatt, Partner & COO, New Perspective Senior Living. “With low unemployment and high turnover in most markets, we believe offering solutions like this can only help us in the relentless pursuit of attracting new team members and ultimately increasing overall retention.”