This article originally appeared in B Magazine.
If you’re worried about finances, you’re not alone.
In fact, more than three in four Americans (or 77%) report feeling anxious about their financial situation, according to a Mind over Money survey by Capital One and The Decision Lab. As more people have found themselves living paycheck to paycheck, it leaves fewer options when unforeseen emergencies or bills pop up. Some may risk over-drafting their bank accounts, leaning on high-interest credit cards, or – worse – even turning to a predatory loan.
The good news is CPU can help.
We get that, as an employer, you may feel limited in how you can assist employees during these tough economic times. You may even be experiencing some of the financial pain and struggles yourself. But all progressive businesses know that when times are tough, that’s when you get creative.
If your employees are struggling to make ends meet, you can start by making sure you offer a robust suite of financial wellness resources. Tools around financial education, budgeting, and debt management services can help employees feel informed, more empowered, and better able to manage their finances. You can also offer a solution like pay-in-advance with ZayZoon that allows employees the ability to access earned wages whenever they need them. This means they won’t have to wait until payday to get funds and may be less likely to turn to risky financial options.
CPU is your trusted payroll advisor, and we can help you find progressive solutions that work for you and your employees.