This service is proven to reduce staff turnover by 30%.
Companies underestimate the true cost of staff turnover, considering only the cost of the advertisements or recruitment agency fees.
Factoring in time spent by HR and management plus lost productivity and a low to medium pay worker will cost over £7,000 to replace.

Improve Staff Retention

Reduce Absenteeism

Stress is the biggest cause of absenteeism, after minor illnesses such as colds. Money worries are by far the biggest cause of stress.
60% of Londoners have failed to go to work at some point simply because they cannot afford the commute. Nationally this figure is 39%.
The average worker takes 6.6 days off each year due to sickness costing, on average, £554 per employee per year.
MyWagez is proven to reduce these lost days by up to 23%. 

Increase productivity

Research shows that 50% of employees spend 3 hours or more per week worrying about their finances at work. This leads to 2 hours of lost productivity per employee per week. 
Your business could be 5% more productive if your employees were less financially stressed.
​Presenteeism, i.e. being at work but not productive, is estimated to cost 2.5 times more than absenteeism.
That's £1,385 per employee.
Reducing your employees financial stress will significantly reduce your company's absenteeism & presenteeism costs.

Improve recruitment

Increased frequency of pay is seen by all employees as a major incentive to joining a company. When recruiting it's often the employee benefits that make the difference to a prospective employee.
Offering your candidates the ability to take their wages in real time is a powerful incentive. You will see an improvement in both the quantity and quality of candidates as well as the number of offers accepted. Best of all it's free and cash flow neutral.

Increase employee engagement & wellbeing

We sincerely believe that employees should not have to turn to high interest lenders when they have already earned their wage.

Statistically, 11% of your workforce has a payday loan & 40% of your workforce has less than 1 weeks savings. On average, your employees spent £152 last year in bank fees & at least 15% of you staff missed a credit card payment.

No more late fees. No more bank charges. No more overdraft fees. No more missed credit card payments. No more pay day loans. No more high interest loans. Just a fair, simple fee.