Cloud-powered people management platform Employment Hero has launched its new suite of employee focused features, WorkLife.
Employment Hero claimed this new suite has been designed to “combat many of the common pain points faced by Australian employees”.
The company says these new features will help employees better access, manage and save their pay, allow their income to stretch further, improve overall work life and create tangible benefits for life outside work.
WorkLife features include InstaPay, a market-first tool to access earned wages before payday minimising reliance on payday loans and/or credit cards, aiming to reduce employee debt; Savings Hero, a real-time savings dashboard to empower employees to monitor and manage their savings; Hero Shop, an enhanced version of Employment Hero’s existing online marketplace, offering discounted products, services and added benefits to employees; and Life Hero, a content portal which aims to improve personal and financial wellbeing by providing macro-financial, physical and mental health guidance.
Ben Thompson, founder and CEO at Employment Hero said, “Australia’s wage price index has trended steadily down over the last decade, impacting directly on employees’ standards of living. With the roll-out of our new suite of features, we are alleviating this burden by assisting, advocating and empowering today’s workforce, and truly transforming the conversation around wages.”
Thompson said while technology has allowed us to spend anytime and anywhere, it hasn’t given us access to our own money any quicker.
“Instead, Australians have slowly taken on more debt through loans and credit. We want to break this cycle by giving employees access to their own money, when they need it most. On this point, we’ve found that both the prospect of setting your own pay date and tracking spending and savings is especially popular among millennials — who are the future workforce, after all.”
Cat Prestipino, CMO at Employment Hero noted the biggest feature of the WorkLife suite is InstaPay, “The intention is [InstaPay] will be able to stop people having to rely on short term money options. There has been a whole stack of research, in particular by the ABC, looking at once people get on that cycle it’s hard to get off.
“The intention here is that they’ll be able to access their own money if there is an emergency and not have to get into that debt cycle. I think it is something amazing that technology has allowed us to do.”
WorkLife is available now.