Attract talent and increase retention with Openwage on-demand pay.
The employee benefit that’s completely free for employers.
Why does employee financial wellbeing matter?
When your employees worry about money, it affects their mental and physical health.
This negatively affects their performance and makes them less productive at work.
Financial wellbeing should be an essential part of your overall employee wellbeing strategy.
Good news! Even companies with no budget can implement Openwage’s financial wellbeing benefit. It’s free for employers.
struggle with monthly bills
In the UK, 8.3 million people struggle to cover their monthly bills1, and three in four people say a shortage of money severely impacts their life and wellbeing2.
Money worries follow people into work. Employees everywhere are carrying financial burdens while trying to do their job. And when employees are experiencing financial stress, it severely impacts their ability to work.
It can also impact their mental health and overall wellbeing, leading to:
It’s not just employees that are affected when money becomes a worry. It’s estimated that poor financial wellbeing costs UK employers around £4 billion every year through absenteeism, lost productivity, and employee turnover3.
Reducing stress and promoting employee wellbeing has become a priority for businesses. Now, more and more employers are embracing initiatives that promote financial wellbeing through an employee benefit scheme.
Openwage is an app that gives employees on-demand access to money they’ve earned before their scheduled payday.
Openwage makes on-demand pay affordable to everyone. Employees pay a small, transparent fee for each transfer. We charge 1% of the sum transferred with a minimum fee of £1. On their usual payday, employees receive their remaining salary.
Openwage isn’t a loan or any form of credit, so there’s no interest to pay. With Openwage, employees can access their earned pay whenever they need. This means they don’t have to resort to payday loans, credit cards, or overdrafts.
On-demand pay helps to reduce the financial stress of living paycheck to paycheck. Knowing they can access their pay instantly boosts employee financial wellbeing and can create a happier, healthier workforce.
On-demand pay gives your employees financial flexibility to manage unexpected expenses. This helps to reduce money worries and allows them to be more focused and productive at work.
Reducing stress has a positive impact on your employees’ mental health and boosts their mood. Happier employees are less likely to be absent from work through sickness.
On-demand pay has been extremely well-received by our employees. The team at Openwage made the process of setting up and rolling out the service very quick and easy. It’s benefits like this that play an important part in people choosing to either join or remain within our company.
The app is really excellent. I like how my pay enters my account instantaneously.
Having payment spread across the month is always something I’ve preferred, so it has been great for me.
Really nice and straightforward to use.
Simple and easy to use
There's no impact on your cashflow as Openwage provides the funds for all on-demand pay.
Retain stronger talent. It's good for your business and reduces your running costs.
By offering an employee-valued financial wellbeing benefit, you'll be more attractive to new talent.
There are no set-up fees or recurring costs to your business. It's completely free for employers.
With Openwage, you don't need to make any changes to the way you run payroll.
Since we provide the funds to employees, there is no financial risk to your business.
We set up your account
Easily add your employees
Your employees get paid
Let's get started