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GetPaid Teams Up with SCMAP to Revolutionize Earned Wage Access in the Supply Chain Sector
- hello681271
- Aug 15
- 2 min read
Updated: Sep 9
GetPaid has teamed up with the Supply Chain Management Association of the Philippines (SCMAP) to introduce earned wage access (EWA) to the country's supply chain industry. This forward-thinking financial solution aims to enhance employee benefits, boost workforce satisfaction, and ultimately drive productivity within the logistics sector.
This collaboration comes at a pressing moment when the supply chain industry is grappling with labor shortages and rising operational costs. By allowing employees to access their earned wages before payday, GetPaid and SCMAP are set to transform the employee benefits landscape for workers in this critical sector.
Understanding Earned Wage Access
Earned wage access lets employees access a portion of their earned wages before their scheduled payday. Designed to reduce financial stress, this service provides workers with greater control over their finances.
For many employees in supply chain and logistics fields, unexpected expenses—like medical bills or car repairs—can lead to significant financial strain.
GetPaid is already witnessing a higher request rate within our logistics clients' employees. EWA is enabling these workers access to their wages ahead of time and not have to resort to high-interest loans. This financial flexibility is not only leading to improved well-being but also improving retention rates by 30%!
The Benefits of EWA for the Supply Chain Industry
The introduction of earned wage access in the supply chain sector presents numerous benefits for both employees and employers.
Enhanced Employee Satisfaction
One of the most significant advantages of EWA is its potential to increase employee satisfaction. Providing workers with immediate access to their earned wages can help alleviate financial stress, leading to improved morale.
When employees feel financially secure, they tend to be more engaged and productive. For example, companies that implement EWA report up to a 20% increase in employee satisfaction scores. This motivational boost is crucial in the high-paced environment of supply chain management.
Reduced Turnover Rates
High turnover rates are a constant challenge in supply chain operations. Research shows that replacing an employee can cost a company up to 33% of their annual salary. By incorporating earned wage access into their employee benefits package, companies can stand out in a competitive job market.
Employees are more likely to stay with an employer who offers financial flexibility, resulting in lower recruitment and training costs. For example, organizations using EWA have reported up to a 30% reduction in turnover, demonstrating its effectiveness in retaining talent.
Looking Ahead: The Future of Earned Wage Access in the Philippines
As the partnership between GetPaid and SCMAP develops, the future of earned wage access in the Philippines appears promising. Given that the supply chain industry is a critical part of the nation's economy, the introduction of EWA may create a ripple effect across various sectors.
By improving employee benefits and supporting financial well-being, companies can nurture a more engaged and productive workforce. This, in turn, can enhance operational efficiency and competitiveness within the supply chain sector.
