The high rate of employee turnover is a problem for businesses. Research shows that 66% of employees plan to leave their employer within four years. While there are many factors that contribute to this problem, there is one that certainly doesn’t help. And that’s student loan debt. Now, extensive student loan debt negatively impacts every aspect of a person’s life and factors in on so many of their decisions, including their place of employment.
Now, what if there was a way for businesses to get more involved in helping to alleviate this burden? Well, there is, meet Paidly. Paidly offers a secure cloud-based solution that enables employers to make supplemental payments toward employee student loan principle, thus helping to facilitate their financial wellness. Paidly does all the heavy lifting to ensure companies are taking advantage of student loan payment benefits. Now, this is a huge boon for both recruitment and retention. Here’s how it works.
Employers first identify eligible employees and choose either a recurring or on-demand benefit program. And then, well, that’s it. Paidly will do the rest. If you’ve chosen a recurring benefit program, the supplemental payments will be made on a schedule, for example, monthly, quarterly, or annually. And if you’ve chosen an on-demand program, then you’ll have more flexibility. You choose a schedule.
Paidly supports all forms of payment, too, even paper check, which is something that many student loan services require. Now, all student loans are validated for fraud before any payments are made, making sure to protect the business. When you do the math, Paidly delivers an estimated 200% ROI, making it beneficial for employees as well as employers. Help your employees achieve financial wellness and get a leg up on the competition. Start using Paidly today by heading on over to meetpaidly.com.