Midland-based MyMichigan Health is focused on benefits that support employees’ well-being and financial health. So when the system learned about a program that allows workers to access a portion of their earned pay before the traditional payday, it was a natural fit.
“We thought it might help employees who face unexpected expenses or when bills are higher than they anticipated,” Senior Vice President and Chief Human Resources Officer Julie Ward, EdD, told Becker’s. “We also thought it might encourage employees to pick up extra shifts in clinical areas if they knew they could access that money sooner than payday.”
Beginning Oct. 29, MyMichigan Health will roll out the earned wage access to approximately 10,000 employees through Rain, a third-party vendor. Employees who opt in can receive their wages at no cost through a standard 1-to-3-day automated clearing house transfer. Those who choose same-day access will incur a nominal fee.
Dr. Ward said the benefit reflects the health system’s commitment to supporting employee well-being, reducing stress and providing flexibility.
“We see this supporting engagement and retention. It may also help with new hires, depending on where they fall in the pay cycle. Sometimes, it could be three weeks before they get their first paycheck, and this gives them the opportunity to access their earnings earlier,” she said.
MyMichigan Health is launching Qualtrics, an experience management platform, to conduct more frequent employee surveys about benefits and respond more quickly to feedback. Dr. Ward said the platform will help the system measure the use and impact of the new benefit once fully implemented.
“We anticipate that employees will see this as a positive thing — a security blanket of sorts. If something unexpected comes up, they’ll be able to manage it,” she said.
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