How Early Access to Pay Helps You Keep Your Employees with Andrew Garner, Netspend

Employers spend $1000s to replace and rehire an employee so it’s critical that business leaders respond to the demands and needs of their hourly workforce with new resources and tools that keep them engaged and happy. In this HRchat episode, we consider why offering things like same-day digital access to tips and early access to earned wages can help organizations retain their staff. Bill Banham's guest this time is Andrew Garner SVP and General Manager of Business Partnerships at Netspend, provider of payments and financial solutions for consumers and businesses. As the trusted partner to many of the world’s most recognized brands, Netspend connects people, brands and payment products to deliver helpful financial solutions.Questions for Andy Include: You're quoted in benefitnews.com as saying “People are looking for different experiences [at work] — and it goes back to employees reflecting on their career and their life... They’re looking for certain things like higher wages, or immediate access to their tips or earned wages every single day.” What's changed in the past couple of years to cause this reflection and how much has better tech contributed to expectations around getting paid faster? The idea of earned wage access is quickly becoming a key tool for recruitment and retention. Please explain the process and offer stats around how many employees in the US and elsewhere could benefit. How can financial insecurity impact employee mental wellbeing? Considering that the loss of a single hourly worker can cost an average of $4k to replace and rehire for the position, why do you believe there's a pressing need for business leaders to get creative with new resources and tools for better financial management and earned wage access for their employees?More About NetspendA pioneer in providing financial services to traditionally underserved consumers, Netspend is continuing to make payments accessible to more markets in more ways. Netspend’s open technology platform enables businesses to quickly and securely embed payments solutions into their ecosystems and seamlessly brings innovation to market. Netspend products can be acquired online, through its mobile apps, and at more than 100,000 locations nationwide including retail outlets, tax preparation offices, and financial service providers, and through corporate pay card and tips partners. Based in Austin, Texas, Netspend is a wholly-owned subsidiary of Global Payments Inc.We do our best to ensure editorial objectivity. The views and ideas shared by our guests and sponsors are entirely independent of The HR Gazette, HRchat Podcast, and Iceni Media Inc.  Support the showFeature Your Brand on the HRchat PodcastThe HRchat show has had 100,000s of downloads and is frequently listed as one of the most popular global podcasts for HR pros, Talent execs and leaders. It is ranked in the top ten in the world based on traffic, social media followers, domain authority & freshness. The podcast is also ranked as the Best Canadian HR Podcast by FeedSpot and one of the top 10% most popular shows by Listen Score. Want to share the story of how your business is helping to shape the world of work? We offer sponsored episodes, audio adverts, email campaigns, and a host of other options. Check out packages here.Follow us on LinkedInSubscribe to our newsletterCheck out our in-person events