Shubh Sidhu - How Earned Wage Access Affects Employees

Send us a text Summary: Shubh Sidhu is the VP of Growth at ZayZoon, an employee financial wellness company whose core service offering is “wages on-demand” (i.e., what the industry now calls early wage access). ZayZoon was an opportunity that Shubh was passionate about both because it had a potential for significant growth and (more importantly) because it was an opportunity to give people a solution to some of their biggest challenges. Shubh’s focuses on building scalable, optimized growth engines and develop the careers of people he gets to work with. In this episode, Shubh talks about how earned wage access affects employees. Chapters: [0:00 -5:06] Introduction •Welcome, Shubh! •Today’s Topic: How Earned Wage Access Affects Employees [5:07 -14:29] What is Earned Wage Access (EWA)? •Giving more financial control to people who live paycheck-to-paycheck •Rules and regulations around access to pay [14:30 -21:28] What are companies’ expectations when implementing EWA? •Avoiding cashflow issues •How companies can smoothly integrate EWA [21:29 -33:32] How can employees benefit from EWA? •Access to pay during times of need •Improving financial literacy [33:33] Closing •Thanks for listening! Quotes: “Effectively, the concept of early wage access (or earned wage access) is trying to bridge that gap. How do we get employees access to their pay as they work without having to necessarily wait for that two week cycle, while at the same time not compromising the employer cash flow?” “Financial stress is (outside of a couple of other things) right at the top of everybody's list in terms of what impacts them and causes them the most stress. . . . Close to 90% [of employees] will say, “My stress level is lower knowing I have access to on demand pay.”Contact:Shubh's LinkedInDavid's LinkedInDwight's LinkedInProduction by Affogato MediaPodcast Manger: Karissa Harris To schedule a meeting with us: https://salary.com/hrdlconsulting For more HR Data Labs®, enjoy the HR Data Labs Brown Bag Lunch Hours every Friday at 2:00PM-2:30PM EST. Check it out here: https://hrdatalabs.com/brown-bag-lunch/ Produced by Affogato Media