NORTHVILLE, Mich., Feb. 25, 2021 /PRNewswire/ — Attendance on Demand, a leader in workforce management technology, and Clair, a New York-based social impact fintech startup, have announced a vital new partnership to provide free wage advances to more than one million hourly employees across select industries.
The coronavirus pandemic has led to heightened financial uncertainty for millions of Americans who hold hourly positions and are at the mercy of the two-week pay cycle. Forced to borrow from payday lenders who charge exorbitant annual percentage rates upwards of 300%, these workers must shoulder mounting debt simply to get by.
Attendance on Demand has been at the forefront of workforce management since 2006, offering time and attendance services to over a million employees in industries ranging from health care to hospitality. As more and more Americans return to their jobs in the wake of COVID-19, the company saw a growing need among its customers for an instant payment benefit for their workers — and Clair, as Attendance on Demand's premier wage advance access partner, provides that solution, never charging these employees any tips or transaction, monthly, or interest fees.
Starting this year, Attendance on Demand users who sign up for Clair will be able to receive free advances on their earned wages. A worker can clock out on Monday at noon and get their eligible day's wages to pay for lunch, should they need them. These advances are then deducted from their next paycheck.
Beyond offering wage advances, Clair encourages employees to achieve greater financial security, enabling them to set automatic reminders to put money aside for savings. Users also receive FDIC-insured deposit accounts for spending and savings from Clair's partner bank, MetaBank, N.A., and the Clair Debit Mastercard®, with free withdrawals at over 40,000 U.S. ATMs in the AllPoint ATM network.
“Instant pay is something millions of hourly workers are looking for, and our customers in every sphere of the market want to be able to make it an option,” says Attendance on Demand CEO Chris Ciapala. “Unlike other solutions, Clair's is truly a no-cost benefit for both employers and employees.”
“We couldn't be more excited to partner with Attendance on Demand,” says Clair Co-Founder and CEO Nico Simko. “Clair is dedicated to giving employees free access to pay they've already earned, and Attendance on Demand's stellar reputation and broad customer base make it possible for us to provide better financial services for millions of Americans together.”
In addition to serving employees directly, the partnership of Attendance on Demand and Clair presents businesses with an array of benefits. Numerous studies have shown that wage advances can help reduce absenteeism and turnover, boost morale and retention, enhance productivity, and even lower check-printing costs, all without requiring organizations to adjust their existing payroll processes. Ensuring workers' financial well-being is a key step toward becoming an employer of choice in any industry.
“We're eager to make this critical feature available to our customers,” says Ciapala. “They can have Clair set up and ready to go for their workforce in a matter of minutes.”
“Partnerships with top workforce management providers like Attendance on Demand are exactly how we're going to expand our reach and fulfill our mission for hardworking Americans,” adds Simko.
For both companies, instant pay access is a crucial means to a larger end: financial health and stability for the people who keep our economy — and our country — running, even in the most challenging times.
About Attendance on Demand
Attendance on Demand is a rapidly deployed, cloud-based time and attendance system that minimizes a company's risk and technology investment while providing advanced features for securely managing labor data. With over 30 years in the time and attendance industry, the company's founders have evolved product offerings from mechanical time clocks to powerful computerized systems. Now businesses take advantage of cutting-edge technologies without costly software or hardware. To learn more, visit attendanceondemand.com.
Clair is a New York-based fintech startup that provides instant pay access as a service for human capital management platforms and the gig economy. With Clair, employees and contractors get access to a digital bank account that allows them to get a portion of their earned wages as soon as they finish work. Clair Spending is a demand deposit account established by, and the Clair Debit Card is issued by, MetaBank®, National Association, Member FDIC. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Clair Savings Account established by MetaBank, N.A., Member FDIC. For more information, visit getclair.com.
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SOURCE Attendance on Demand