Talent shortage and evolving employee expectations around payroll are driving organizations to improve their overall employee experience. Bi-weekly or monthly pay cycles are not adequate anymore, and employees are demanding greater flexibility and support for a better pay experience. Earned Wage Access (EWA), which allows employees to access a portion of their income ahead of the fixed payday, can alleviate employees’ financial concerns and improve their financial well-being. It can facilitate easier payroll administration and reduce wait times for workforce such as hourly workers, gig workers, independent contractors, and freelancers. Organizations can also leverage EWA to disburse off-cycle payments such as rewards, bonuses, tips, reimbursements, and last-day payments.
The Earned Wage Access and Financial Wellness Solutions (EWA & FWS) in the US – Provider Compendium is a companion to Everest Group’s latest study, Earned Wage Access and Financial Wellness Solutions (EWA & FWS) in the US – Products PEAK Matrix® Assessment 2022. In this research, we provide comprehensive and detailed profiles of 15 EWA & FWS providers, covering the providers’ overview, key clients and partnerships, product capabilities, and key developments. Each profile also specifies the provider’s position on Everest Group’s PEAK Matrix® and offers an insightful analysis of its capabilities.
The compendium will enable providers to benchmark their capabilities against their peers, while buyers will be able to assess the providers based on the desired set of capabilities.
Scope
- Industry: all
- Geography: US
Contents
In this research, we analyze EWA & FWS providers across the following dimensions:
- Service capability and strategy: includes company overview, leadership, key developments, market adoption and partnership overview, and product capabilities and offerings
- Everest Group assessment: includes provider’s position on Everest Group’s PEAK Matrix®, along with key strengths and limitations
Membership(s)
Human Resources
Sourcing and Vendor Management
