What You Should Know:
- Empeon, the enterprise-grade Human Capital Management (HCM) platform for health systems, is partnering with Tapcheck, a prominent and award-winning provider of financial wellness solutions, to provide on-demand, same-day pay offerings to Empeon customers of all sizes, from SMBs to Enterprise.
- Empeon anticipates this partnership will provide financial flexibility for countless employees nationwide.
Improving the Financial Scenario for Numerous Employees Nationally
Over 60% of American workers live from one paycheck to the next, and 40% cannot cover a $400 emergency expense. The partnership between Tapcheck and Empeon aims to alleviate employee stress and enhance their quality of life by providing easier access to wages. Earned Wage Access (EWA), or on-demand pay, has been shown to significantly reduce financial stress and position Tapcheck employers as top choices for workers. Tapcheck’s EWA solution, a free offering for employers, helps attract and retain talent in a competitive job market.
Nearly 90% of employees express a willingness to work longer for an organization offering this benefit. Companies implementing EWA experience a 50% decrease in turnover and a 49% increase in productivity. Tapcheck’s EWA program, integrated seamlessly into Empeon’s Human Capital Management (HCM) platform, demonstrates industry-leading engagement and positive impacts on both business and employee financial well-being. Empeon’s platform provides a comprehensive HCM solution, including onboarding, HR, time and benefits management, payroll, and scheduling, with Tapcheck automating the on-demand payment process within Empeon’s software, ensuring the benefit is offered efficiently without adding to HR workloads.
“Many healthcare workers face overwhelming stress to make ends meet. Waiting two weeks for a paycheck can be a considerable financial hardship,” said Morris Isaacson, executive vice president of marketing and sales at Empeon. “Tapcheck opens up a new way for our customers to think about payday. We strongly believe this level of flexibility and autonomy is invaluable for today’s workforce.”
