Flexiwage enables employers to switch from weekly or fortnightly payroll to monthly, saving up to 75% on payroll administration costs. Flexiwage also addresses the needs of Unions who often object to pay frequency changes.
Enjoy the benefit of retained payroll funds in your bank accounts as funds will leaves your accounts more slowly throughout the month.
Retain your employees by offering them more flexibility and help them to manage their income more effectively – they are less likley to leave.
Attract more candidates by offering a great benefit by allowing them to have flexibility on how they are paid..
Substantially reduce payroll costs
Employees cost €3 per payslip for processing on a weekly payroll.
1000 employee’s X €3 X 52 = €156,000 p.a.,
Using Flexiwage an employer can consolidate this to a monthly cycle.
1000 employee’s X €3 X 12 = €36,000 p.a.
Weekly Processing Cost minus Monthly Processing Cost equals a saving of €120,000 p.a. on processing fees!
2017 Employee Financial Wellness Survey
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“Financial stress is not only negatively impacting employees, but is costing employers. Stressed employees are found to be less productive, take time off from work to deal with their finances, and are more likely to cite health issues caused by financial stress. These findings are concerning and potentially significant for companies looking to evaluate the return on investment of a financial wellness program.”
Dungarvan Business Centre Fairlane, Shandon, Co. Waterford, X35 FC60, Ireland