Landers offers first on-demand pay scheme
Landers said it started piloting Paywatch’s on-demand pay at its central office in Otis, Manila City and Alabang, Muntinlupa City.
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Landers said it started piloting Paywatch’s on-demand pay at its central office in Otis, Manila City and Alabang, Muntinlupa City.
Landers Superstore became the country’s first provider of on-demand pay through its partnership with Paywatch which aims to protect workers’ productivity through less financial stress.
On-demand pay or earned wage access allows workers to obtain a portion of their salaries before payday, so that they can respond to financial emergencies quickly without resorting to short-term loans and worrying about repaying them.
Landers said it started piloting Paywatch’s on-demand pay at its central office in Otis, Manila City and Alabang, Muntinlupa City.
“By offering on-demand pay, we aim to ease the burden of unexpected financial challenges, allowing our staff to focus on delivering exceptional service. With Paywatch as our trusted partner, we’re making this vision a reality,” Landers chief of human resources Reynald Lapan said.
Distraction at work cited
Citing a survey by PwC, a tax advisory and audit firm, Landers shared that 76 percent of employees said financial stress caused “negative” impact on their productivity.
Meanwhile, 55 percent said financial issues distracted them at work.
“Earned wage access provides access to earned wages, not loans, meaning employees avoid hidden fees and interest. As a debt-free solution, it stands out as one of the most affordable options available, promoting financial well-being without the risks associated with borrowing,” Landers said.
Following its road shows about on-demand pay, Paywatch said interest in the product from Philippine companies has jumped by 150 percent since it operated in the country last year.
Paywatch serves over 500,000 employees in other firms in Malaysia, South Korea and Indonesia.
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