The labor shortage
challenge
Turnover rate in Retail and Service
Turnover rate in Manufacturing
to replace an employee
recruiting costs and lead time for the garment and textile industry in recent years
preyed by loan sharks every year, leading to recurring gangster collection practices, employees borrowing from each other, and other unethical conduct at work (e.g. stealing)
Cash crunch situations and financial stress make employees restless and seek for new jobs.
Cash crunch situations and financial stress make employees restless and seek for new jobs.
Due to undifferentiated benefits among employers, employees often switch jobs for higher pay
-
2.000đ/hr
Salary difference threshold to switch jobs in Retail & Service
-
500.000đ/month
Salary difference threshold to switch jobs in Manufacturing
Employees increasingly seek for contract work for daily pay
-
>1M employees
become riders for Grab, Gojek, Be, etc. to get paid more frequently
-
>80.000 employees
switch to work in the sharing economy in the first quarter of 2021
Majority of employees favor a more flexible payroll system that provides access to earned wages more frequently
-
>70% of employees
especially the part-time staff are interested in EWA
In cash crunch situations, employees are extremely stressed and could not focus on their job
-
55% of employees
deal with cash shortfall every month
-
10 days
before the payday is the critical time when they run out of money
Challenges for employers to deliver a differentiated wellness program
Challenges for employers to deliver a differentiated wellness program
Limited in cash flow, procedure and technology, employers cannot pay their staff more frequently to meet the rising expectations of employees.
EWA: Seamless and effective
HR initiative
EWA: Seamless and effective
HR initiative