Why Your Employees’ Finances Matter

Almost 50% of Canadians report living pay cheque to pay cheque. Which to us is crazy. So, it doesn’t matter if you’ve created a supportive environment in your organization, there’s still is a dark, looming cloud over your employees: debt.

payd knows financial insecurity is a top stressor for Canadians. Not only can this lead to serious mental illness but it’s also bad for your business. That’s why we’ve created payd for business – a way to help you help your employees pay off their debt with ease

payd for Corporations | Help Employees Pay Off Student Debt

The Cost of Poor Mental Health

Financially stressed employees are 5 times more likely to be distracted at work. What’s the estimated cost for your business?

7,912

hours of productivity
lost in 1 year

$1,000
lost per employee

$200k
lost per year

Those are some big losses. Investing in a program to help your employees manage their finances, repay student loans, and achieve their goals will create an estimated ROI of 4x for your business.

Features

The payd app is North America’s education-focused savings solution. We help employees pay their debt, whether it is student loans, a mortgage, or credit card debt, in four simple ways.

Round-up Savings

After every purchase made, the amount is rounded up to the nearest dollar and put away in their savings account.

Cash-back Rewards

Cash-back is made by purchasing something from a payd partner. The rewards are automatically put towards their debt.

Crowdsourcing

Other payd users can contribute their roundups and cash-back rewards to help the primary user meet their goals.

Investments

Designed to provide enhanced financial literacy, the investment tool helps your money grow.

Corporate Matching

In our corporate matching program, we utilize our 6-month discovery program to identify the savings patterns and aggregate amounts of your employees spending to help design a program that fits your budget, but most importantly provides value to your employees. This program can be used for:

Repayments 

Contribute to crushing your employees’ debts, including student loan repayments.

Savings 

Contribute to your employees’ savings goals for an emergency fund, homeowner fund, or even a vacation fund.

Retirement 

Build employee wealth through an RRSP or other savings program matching.

Rewards

Leverage rewards to pay off the student debt and savings for RRSPs and other goals of your employees.

payd. A new way to support employees

Does reducing financial stress for your employees sound like something you can get behind? Contact us today for our affordable pricing options.

Benefits

Attract Better Talent

Differentiate your business by offering financial wellness, savings, and matching to even your part-time employees - because why should full-time employees get all the perks?

Higher Productivity

When your employees are less distracted by financial issues, they can be more focused and productive at work.

Lower Absenteeism

If your employees’ financial well-being improves, their physical and mental health will improve too. As a result, they’ll miss fewer days of work.