Post by Rain

Overdraft fees aren't just a personal finance problem. For hourly employers, the cost shows up in your workforce data: attendance, turnover, productivity. The math is straightforward. A $35 overdraft fee wipes out more than two hours of wages for someone earning $15 an hour. One fee becomes two. Two becomes a payday loan. And somewhere in that spiral, your employee stops showing up on time — or stops showing up at all. 49.6% of hourly workers say waiting for pay hurts their focus or attendance. 23.3% say financial stress has caused them to miss work or arrive late. That's not a benefits problem. That's an operations problem. The fix isn't complicated. When employees can access wages they've already earned before payday, the cycle stops. Turnover drops 35%. Absenteeism falls. The workforce you invested in actually shows up. We broke down the full cost, and what employers can do about it, in our latest piece. 🔗 https://lnkd.in/ek-6-H6g #HourlyWorkers #EmployeeBenefits #WorkforceStrategy #FinancialHealth #EarnedWageAccess #HRLeaders #EmployeeRetention