In today's economic climate, managing finances can be challenging and traditional pay cycles often leave individuals strapped for cash, especially as the pay cycle is ending.
This can often lead to many resorting to high-cost credit options to make ends meet. These high-cost credit facilities often impose extreme interest rates and fees, exploiting individuals in vulnerable financial situations. These predatory practices are known to exacerbate financial hardship and contribute to a cycle of debt that can be difficult to escape.
- Topic:
- Payments
Having a high staff turnover can be devastating for a business in terms of expense, morale and the loss of expertise. The recruitment process is incredibly expensive with high recruitment fees, management time and onboarding all contributing to costs that you would do well to avoid.
Businesses that have a high turnover often find that this is accompanied by a resulting reduction in staff morale for the people who are left behind as they struggle to cope with expertise leaving the building and the extra work they have to take on.
With this in mind, we wanted to put together a mini-guide to reducing your staff turnover with some actionable things you can do to make sure you hang on to the people who make your business successful.
- Topic:
- Human Resources
In times of uncertainty surrounding the cost of living, rising energy prices and inflation, it’s no surprise that financial wellbeing is a growing concern for many.
- Topic:
- Human Resources
Five ways technology can support staff during the cost-of-living crisis
In many businesses, technology can be crucial for improving processes, driving great efficiencies and building better collaboration and communication among employees. This is particularly important today as the effects of remote working are becoming more apparent – with employees reporting feeling more disconnected at work and experiencing communication issues.
As the UK moves into recession, the role of technology in supporting employees and businesses is going to become even greater. In this blog, we explore the latest research which shows how hybrid working during a cost-of-living crisis could lead to more complex and expensive challenges for staff and businesses, and how technology can provide a cost-effective solution.
- Topic:
- Human Resources
It seems a little bit of an understatement to say that last year was an incredibly unsettling one for many people and here at Access EarlyPay we've been seeing the results of that.
Access EarlyPay gives employees access to their earned income on-demand, meaning that people have ready access to the cash they have earned, without having to wait until the end of the month.
This means that we have seen the peaks and troughs of 2020 manifest themselves in the different times that people call on their cash and the amount they need.
We’ve created a ‘Review of the Year’ infographic for you to discover the power of on-demand pay, and indeed how useful our users found it throughout 2020. Click below to view it now!
- Topic:
- Human Resources
There can’t be many managers that haven’t pondered the nature of productivity and searched for a way to increase it in their team.
High productivity is the holy grail for many companies and so we thought we’d curate a list of our favourite productivity-enhancing tips.
Some cost money, some are free but all will increase productivity at your company and may even make people happier.
The great thing is that you don’t need to rely on anyone else to adopt many of these tips so whether you work in a global concern or you are a one-person band, dive in and have a go.
- Topic:
- Human Resources
The personal finance landscape has changed massively since the beginning of covid with people needing to find ways to cope with multiple lockdowns and dramatic shifts in their lifestyle.
Across the UK we have seen employees dealing with reduced hours, home working and even redundancy and so it is no surprise that there has been a knock-on effect on people’s personal finances. In fact, more than 14.9m people have seen a negative shift in their personal financial situation according to debt charity StepChange.
In this post, we’re looking at the challenges that people have had to face due to COVID and the ways that the personal finance landscape has changed as a result.
- Topic:
- Human Resources
As lockdown restrictions continue to be eased in the UK, many key industries will now be looking to rebuild and recover from months of little or reduced activity. For hospitality, salons and other service-led businesses, they have now reopened their doors, with strict social distancing measures in place.
Keeping people safe, while trying to operate as best they can is a real challenge for business leaders - but it’s not their only priority. They also need to implement and introduce strategies that will help them maximise revenue to build momentum on the road to financial recovery. Key to that recovery is productivity - and productivity is driven by the wellbeing of the team.
For sectors like hospitality, rebuilding and retaining the workforce is going to be crucial to long-term success. So businesses need to be thinking about what policies and perks they can introduce that will help look after their team, so they can do their role to the best of their ability.
Pay on demand might just be one of the answers.
- Topic:
- Finance
With the presence of on demand pay growing rapidly in the UK, we take a look at what this means for HR and Payroll professionals.
In the second part of this series, we talk to Ellen Mabon, HR Assistant at the Access Group who was responsible for rolling Access EarlyPay out to over 2,000 Access employees.
- Topic:
- Human Resources
With Government restrictions linked to the Covid-19 lockdown starting to ease, businesses are planning to re-open and return to some form of normality.
- Topic:
- Hospitality
