Startup Wagely Reveals EWA Technology Can Reduce Employee Turnover
5/24/2022
After Eid, the turnover of company employees in Indonesia tends to increase.
The results of a LinkedIn study show that 1 in 10 Indonesian employees change jobs after Eid al-Fitr.
The phenomenon of employee turnover is quite a challenge for companies to retain their employees.
Mercer Survey results reveal that employee turnover is caused by employee dissatisfaction with salary.
Then, another reason that supports employee turnover is better benefits in other companies.
"During the pandemic, we are doing our best to support companies by trying to help address some of their biggest issues including employee turnover and retention rates," said Wagely CEO Tobias Fischer.
"Our employee benefits solutions strengthen the bond between companies and their employees, resulting in employees staying longer, more engaged, and more satisfied with their jobs," said Tobias at a press conference Friday (20/5).
However, the employee benefit program is considered less than optimal for Indonesian companies.
For this reason, Wagely uses Earned-Wage Access (EWA) technology as a new solution to overcome the phenomenon of employee turnover in Indonesia.
EWA allows employees to access and use their paychecks early.
This is certainly different from the traditional payroll system which waits for a certain date so that employees can get their salaries.
Through EWA, employees are expected to be able to accommodate incidental and urgent needs.
In addition to benefiting employees, EWA technology is also said to make it easier for HR to meet employee needs.
"We found that our EWA technology significantly reduces the level of
employee turnover, increase productivity, and have an impact on attracting and recruiting great talent," said Tobias
"In addition, EWA technology helps employees avoid loans with very high interest rates, while helping companies reduce cash receipts so that cash flow increases and business administrative burdens are reduced," added Tobias.
