Healthcare teams are plagued by churn. While this has been an issue for years, there’s a proven way to combat it: financial wellness benefits. Many caregivers leave due to low compensation for demanding work and an unpredictable schedule. In the absence of a raise, employee benefits that reduce finance stress, like earned wage access (EWA), are no longer optional perks—they’re essential, and they have a big impact. 

Why Financial Wellness Matters in Healthcare

A staggering number of low-wage workers—fewer than 1 in 7—are considered to be financially healthy. Many caregivers rely on public assistance programs, like Medicaid and SNAP, to help make ends meet. Unavoidably, this high level of stress around finances follows them to work, and 21% of low-wage workers admit that it negatively impacts their performance and productivity.

A Simple Perk to Boost Morale and Reduce Turnover

Lowering financial stress can lead to a more focused and productive workforce, but can it boost morale and loyalty? The answer is yes. In a study of workers in low-wage jobs, 57% of respondents whose employer helps them improve their financial health report being more satisfied and don’t plan to look for another job in the next year.

Keeper’s EWA platform is a win-win solution. Employees get on-demand access to a portion of their earned wages—right after they log a shift—so they don’t have to wait until payday to get the money they need for everyday expenses. And it’s a low-lift, zero-cost addition to a benefits package that demonstrates an employer’s commitment to their workers’ well-being.

Start improving employee engagement and retention today. Request a demo to see how Keeper can help your healthcare team thrive.