YAD Healthcare, a leading provider of administrative and consulting services for skilled nursing facilities and rehabilitation centers, is dedicated to being a forward-thinking employer by prioritizing the financial well-being of its 1,400+ employees. With operations across 16 Virginia and North Carolina facilities, YAD Healthcare sought to implement a financial wellness benefit that could also improve employee tenure and productivity.
Challenge: Increasing Employee Financial Wellness
Tina Agosto, YAD Healthcare's Human Resources Director, stated that the primary motivation for implementing Earned Wage Access was to remain competitive in the surrounding market and ensure employees could access their earned wages in case of emergencies.
YAD Healthcare recognized the importance of employee financial well-being and sought a solution to address this need while boosting morale and retention. Employees explicitly requested Earned Wage Access (EWA) for financial flexibility. Through their timekeeping provider, Smartlinx, YAD Healthcare connected with Rain, a Smartlinx partner, to implement EWA.
Solution: Smartlinx Partnership Leads YAD to Rain
Following a referral from Smartlinx, Rain partnered with YAD Healthcare to provide Earned Wage Access (EWA), aligning perfectly with the company's focus on employee financial wellness. "Employee well-being was our top priority," affirmed Agosto, highlighting the driving force behind this decision.
Rain's EWA solution enhances the employee experience by allowing seamless access to up to 50% of earned wages before payday. The streamlined signup process empowers employees to easily access their hard-earned wages, fostering a sense of security and satisfaction.
This partnership exemplifies YAD Healthcare's commitment to innovative workforce solutions that prioritize employee welfare, while Rain's tailored offerings boost adoption rates through an exceptional user experience.
"We 100% feel that implementing Rain has led to valuable results for our company. Our employees find that “paying” themselves weekly helps them financially, and with Rain, they have the option.”
—Tina Agosto, Human Resources Director
Results: Remarkable Savings and Results
Rain's Earned Wage Access (EWA) benefit has delivered tangible results for YAD Healthcare, driving higher employee adoption rates, enhanced retention, and improved productivity.
To date, YAD Healthcare has realized estimated savings of over $381,000 through reduced employee turnover, recruitment, and training costs.
Rain's offering provides superior customization options and comprehensive data reporting capabilities. These valuable insights have revealed a significant increase in employee productivity and tenure, further validating the transition to EWA as a strategic move for YAD Healthcare's workforce and operational efficiency.
Conclusion: An Impactful Partnership
By transitioning to Rain's Employer Payroll Model for Earned Wage Access, YAD Healthcare significantly boosted employee adoption rates, paving the way for improved retention and productivity. Implementing this financial wellness benefit has proven an undeniable success for the company. YAD Healthcare's leadership team is delighted with the partnership, as Earned Wage Access has positively impacted both employees and profitability. YAD Healthcare’s forward-thinking approach has solidified Rain as a valuable investment, creating an engaged workforce while reducing turnover costs.
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