With new tariffs now in effect, economists are predicting that short-term financial pain will add close to 2% to the Consumer Price Index and cost the average household (earning roughly between $30k-$60k a year) around 4% of their disposable income
Unlike many other industries, much of the Home Healthcare ‘product’ revolves around a time-intensive, one-on-one client experience, directly impacting company revenue (i.e. the better the end-user experience, the better the revenue) and making the need for positive patient interactions non-negotiable
So, how do Home Healthcare employers help their caregivers buffer the emotional stress associated with the forecasted 4% reduction of disposable income and reduce carry-over stress into their employees’ shift performances?
How Rellevate Can Help
Pay Any-Day (a form of Earned Wage Access) is one of the fastest growing employee benefits today and can help employees adjust both emotionally and practically to daily financial stress
How Does Pay Any Day Help Caregivers?
An estimated $1+ trillion dollars is held up in payroll systems every two weeks, leaving many employees struggling to cover daily expenses. Pay Any-Day bridges this gap, giving workers access to their paycheck when they need it, (especially in the middle of a pay period) thereby helping them avoid costly alternatives like payday loans, overdraft fees and high-interest credit cards
Employee Financial Snapshot
- 49% have $500 or less in savings
- 55% have somewhere between 1-4 overdue bills during any given month
- 80% either run out of money or tighten their budget in the days leading up to getting their paycheck
Rellevate’s Pay Any-Day To The Rescue
Rellevate’s Pay Any-Day helps employees pay more attention to their income and spending habits through better financial tools and controls, (helping save over $1,000 a year in unnecessary fees and penalties) resulting in a more motivated and productive caregiver workforce
Pay Any-Day is proven to help employees avoid:
- Borrowing money by 57%
- Paying late fees on bills by 40%
- Bank Overdraft by 32%
