Note to SAP Community members: SAP recognizes the importance of the integrity of the SAP Community. In an effort to continue to support the community and at the same time adapt to this time of uncertainty, we are creating a temporary space for partners who have free solutions that can help you continue to move forward. Our intention is to give you direct access to their solutions as they may provide you with practical help to tackle COVID-19 disruptions.
It goes without saying that these are unprecedented times. It seems as if no business, and especially their people, are immune from the effects of the COVID-19 pandemic.
With that being said, we all recognise one fact. The hearts of our organisations, the individuals that run it, now have their livelihoods in jeopardy through circumstances out of their control. Previously consistent paychecks may become inconsistent and anxiety around personal finances is building towards an all-time high; possibly of a magnitude greater than anything we’ve experienced in recent memory.
I’m incredibly lucky that the company I work for, Earnd, has not been significantly impacted by this fallout. However, many brilliant individuals working for other organisations have not been so fortunate. We wanted to play our part, so we asked the question – “How can we best support our peers?”
We’re in a unique position that Earnd’s product offering has a direct and tangible impact on employees’ financial lives – one of the most deeply impacted aspects of our people’s lives due to the COVID-19 pandemic . Under normal circumstances, real-time access to earnings gives employees the flexibility to shape their pay cycle to their unique situations, irrespective of the frequency with which they are paid. In times like these, real-time access to earnings eases paying bills, rent and covering unexpected expenses, especially in the face of financial uncertainty. With both our team and our customers finding that this support significantly eases stress in our own lives, we’re delighted to extend the Earnd offering to the global SAP community, free of charge. The following is a statement from Earnd’s CEO, Josh Vernon.
“The ability to access additional liquidity, in the form of real-time earnings, helps ease the financial anxiety that’s affecting all of us in some way right now. We hope providing Earnd’s offering free of charge helps your employees build the financial resilience which is so crucial to broader wellbeing, during these tough times”
As business leaders wargame scenarios to unearth the optimal approach during this period, a study by HBR reveals that a ‘progessive approach’, one of both offensive and defensive tactics is likely to deliver the best post-crisis growth. Specifically, the study emphasises improving operational efficiency, rather than downsizing your workforce as the most important defensive tactic. It allowed companies to ‘turn the corner’ rapidly post-crisis and ramp up operations quickly in order to outperform competitors and retain market share, if not capture more.
To this end, it becomes essential for us as leaders to answer the question – “How do I best support employees during this turbulent period to both improve productivity and make sure we are well positioned for post crisis growth?”
Earnd’s financial wellbeing offering gives employees access to their earnings in real-time, providing them with increased liquidity during uncertain times. It allows them to:
- Meet expenses with their pay as they come, and pay off bills, rent and essentials immediately.
- Cover unexpected expenses with their own income, allowing them to avoid predatory credit options that take advantage of emergencies.
- Have peace of mind, knowing their pay is there when needed thanks to an employer-sponsored safety net.
Real time access to earnings alleviates some of the financial anxiety we’re all facing right now, bringing tangible bottom line benefits including improved employee morale, productivity and reduced turnover. Earnd supports a diverse workforce demographic ranging from employees of the NHS (National Health Service UK) to JD Sports (Australia), enabling employees all over the globe to access their pay when needed.
To learn more, or to implement in your organisation, contact us at https://earnd.com/covid-19.