www.bell.bank Member FDIC 35344 Partner with Bell for: Participation loans Bank stock and ownership loans Holding company loans and lines of credit Reg. O loans to bank employees, insiders or directors Equipment financing Find the terms and flexibility you need on large or small loans at Bell, with faster turnaround from an experienced team dedicated to correspondent lending. Whatever Loan Amount You’re Looking For, We Can Help. Tom Ishaug Call me at 701.451.7516 – Based in Fargo, N.D. Serving North Dakota, South Dakota, Minnesota 35344AD Colorado Bankers Association 2022_Tom.indd 1 3/31/22 4:33 PM the box regarding recruitment strategies, and what better benefit is there than access to earned wages in real-time. In addition to enhancing your recruitment strategies, earned wage access can also benefit employers by: 1. Retaining top talent 2. Eliminating financial pressure on your employees 3. Increase workers’ productivity 4. Lead the path for a financially literate workforce 5. Enjoy all the indirect benefits of a financially happy employee In the United States, 78% of the population is described as living paycheck-to-paycheck and would rather not wait for their scheduled payday. In the current state of uncertainty, it is understandable for employees to desire consistent cash flow. When workers are not stressed about their financial struggles, they perform better and can focus easily. On-demand pay gives employees peace of mind over their finances and thus creates a healthier work environment. Although some managers are hesitant to promote ondemand pay, citing poor budgeting skills, its successful implementation at many leading organizations should alleviate those concerns. The ridesharing company Uber has been offering Instant Pay for its drivers for several years. With their program, drivers can cash out their earnings up to five times a day and receive those funds instantly. Many other jobs like bartenders and tipped workers are used to taking home their pay daily. Today’s job market needs an earned wage access solution like never before. A benefit that ensures your employees receive timely salaries is what sets you apart in a sea of open positions. Studies show that when employees do not have to stress about finances, they can perform better at work. For much of the workforce, the standard two-week payday cycle is not working anymore. It is time to rethink the payroll process and understand how it affects employees’ productivity and well-being. On-demand pay gives employees peace of mind over their finances and thus creates a healthier work environment. May • June 2022 9
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