Hiring and retaining staff has become more challenging than ever as the demand for qualified employees is high, supply is limited, and labor participation rates are at their lowest in decades.
The cost to replace an hourly employee can reach up to $2,400 – and with annual turnover rates as high as 130%, this gets expensive, fast.
Tapcheck provides an On-Demand Pay platform that tackles these challenges. Completely complimentary for employers and fully integrated with Paycor and time systems, Tapcheck’s earned wage access solution is an employee benefit that is easy to implement and promote as a recruitment tool with no impact to current payroll processes.
Many employers using this financial wellness benefit have seen:
- 48% reduction in employee turnover
- 74% reduction in absenteeism
- 50% reduction in hiring costs
- 100% more job applicants
This session is eligible for HRCI and SHRM credit.
Sean Dougherty with Tapcheck
Sean Dougherty is the Senior Director of Channel Sales for Tapcheck.