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What it Costs
What it costs your business to
implement WorkersChoiceUSA:
There is no out-of-pocket expense for a business to offer the
WorkersChoiceUSA
benefit (1) to staff. We provide
everything you need to implement and maintain WorkersChoiceUSA
in your workplace: WorkersChoiceUSA provides: All Funds (Paid Directly to Employees), Employee Brochures, Customized Emails to Announce Benefits to Staff, Customized Posters for Common Employee Areas, Written Policy, Intranet Content, Utility Reports, etc. – All At No Cost To Your Company!
What it costs your business when
employees struggle with short-term cash flow needs:
An employee’s cash shortage dilemma could lead to job performance-related
issues, such as missed time, declining work attitude or ethic,
low morale (denying an employee’s cash loan request can strain
the employer/employee relationship), misuse of company time
and resources (spending work time on the internet or telephone
trying to solve their personal cash crisis), higher risk of
on-the-job fraud and theft, depression, and addictive behaviors.
A simple search on the internet – “Employee Financial Stress”
– will provided dozens of studies and surveys highlighting the
costs of financial stress in the workplace to businesses.
What it costs a business to operate
an Employee Loan Program internally:
Employers must research their state’s wage and hour laws to
determine their eligibility to offer an internal loan program,
implement a policy, loan agreement and request procedure - all
created in accordance with state and federal laws. They must
market the program to staff, and administer and maintain the
program using their current payroll personnel and systems. In
addition, businesses offering their own programs must have available
cash to cover the loans and assume 100% of the financial risk.
What it costs your employees to
use WorkersChoiceUSA
services:
WorkersChoiceUSA
costs are less than what your employees will pay for alternative
services and products, like Overdraft & NSF Bank Fees, Payday
Loans, Credit Card Loans or Late Fees, etc. In addition,
our services will not encourage employees to borrow or re-borrow
themselves into a “cycle of debt” as these other products may.
It is undoubtedly a better alternative to borrowing from retirement
accounts, as the long term loss and tax penalties for early
withdrawal or failure to repay are steep. In fact, WCUSA
charges less interest than the Commonwealth of Virginia charges
state employees for a similar Employee Loan Program.
(1)The product provided by WorkersChoiceUSA
is a loan or line of credit, depending on employee’s residence.
See product disclosures for more details. |
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About the Program