Employer Benefits
2 out of 3 employers nominated finding and retaining talent as their key concern for 2022, and over the next three to five years
KPMG survey of >400 CEOs, business leaders & NEDs in Australia (2022)
In Australia, more than 50% of employees say pay-on-demand would reduce their financial stress and they would take it up if it was offered by their employer
Pay in the new economy whitepaper, Ernst & Young and Flare HR (2022)
SalaryFlex’s Benefits
Find out how SalaryFlex can transform your business, in 2 minutes
Partner with SalaryFlex™ to offer an innovative financial wellness solution to your employees
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Provide salary flexibility without impacting your cashflow
Partner with SalaryFlex™ so your employees can get paid when it suits them, without affecting your business’ cash flow.
You can also elect for the small transaction fee to be paid by the employees that utilise the service, so that it costs your business nothing at all.
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Boost Productivity
Financial stress is a productivity killer.
Severe and moderate financial stress suffered by 3M Australian workers cost businesses 1.9 billion lost hours, and $67 billion, each year.
SalaryFlex’s Salary Access Solution and other free financial wellness tools are designed to reduce financial stress and enable your employees to focus on your business.
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No or low cost to your business
SalaryFlex’s novel Salary Access Solution can be offered to your employees at no cost to your business, or you can elect to pay all or part of the small transaction fee when your employees utilise the service - you decide.
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Simple and Innovative Solution
SalaryFlex’s simple and innovative solution offers maximum salary flexibility to your employees with minimal administrative requirements.
Importantly, your employees can access their salary weekly, fortnightly or on-demand, with no ad-hoc pay runs required.
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Counter the 'Great Resignation' and win the war for talent
A business’ most important asset is its human capital.
67% of employers nominated finding and retaining talent as their key concern for the next five years.
Enhance your employee benefit offering with SalaryFlex’s Salary Access Solution and free financial wellness offerings to improve your employee value proposition and your ability to attract and retain talent.
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Help your employees achieve financial freedom
SalaryFlex’s Salary Access Solution provides an alternative to high interest credit cards and predatory lending options.
By partnering with SalaryFlex™, your employees will also gain access to free financial wellness offerings, including annual financial fitness and budgeting workshops and other money saving tips.
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Enhance corporate culture
Show your employees that you care about their financial security and overall wellbeing by offering SalaryFlex’s Salary Access Solution and suite of free financial wellness offerings.
SalaryFlex™ also donates 1% of its after-tax profits to charitable causes.
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Provide an alternative to predatory lending
SalaryFlex’s Salary Access Solution provides your employees with a free or low cost alternative to other predatory options that often have high setup fees, snowballing interest, late fees, impact credit ratings and may require collateral.
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With 1 in 2 low income workers, and 1 in 4 high income workers, living paycheck to paycheck, the impact of financial stress is significant.
Financial stress is a productivity killer that costs businesses $31 billion in lost productivity annually.
In Australia, more than 50% of employees surveyed said pay-on-demand would reduce their financial stress and they would take it up if it were offered by their employer.
Show your staff that you care about their financial security and overall wellbeing by offering SalaryFlex’s Salary Access Solution and suite of free financial wellness tools.
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Pay-on-demand is the most prevalent ‘perk’ advertised in American job ads.
In Australia, more than 50% of employees surveyed said pay-on-demand would reduce their financial stress and they would take it up if it were offered by their employer.
SalaryFlex provides an alternative to buy-now-pay-later and other predatory lending options.
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Offering staff access to their salaries whenever they want it in the paycycle could mean daily pay runs, an impact on your cashflow and additional associated funding costs.
You can access all of these through SalaryFlex™, at no or low cost to your business.
SalaryFlex™ also offers a suite of financial wellness tools at no additional cost.
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SalaryFlex™ does not charge any interest, setup or late fees.
There is just a small transaction fee of 4% per advance for recurring advances, and 5% per transaction for ad-hoc transactions.
As the employer, you decide who pays the transaction fee - the business, the employee or a co-contribution, so you can offer SalaryFlex™ at zero cost to your business.
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Where your employees fund the transaction fee, there will be no taxes incurred.
If your business wishes to fund all or part of the transaction fees, GST will not apply as the fee is input taxed.
It is likely that FBT and payroll taxes will apply. However, the FBT will be on a notional transaction fee, such that the FBT charge is expected to be between 4 cents and 18 cents (depending on payroll frequency) per $100 advanced.
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The administrative requirements on your business are minimal. Advance information will be provided prior to each pay cycle by either API directly to your payroll system, or a CSV file which can be uploaded directly into your payroll system.
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Prior to the end of each paycycle, SalaryFlex™ will provide a data via either an API or CSV file of all advances due to be repaid from the upcoming pay run.
Additional supporting evidence can be provided during the paycycle if desired, such as bank confirmations or advance email confirmations.
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SalaryFlex™ takes user security very seriously.
The SalaryFlex™ app is a member only app with login, password and PIN requirements. Passwords for the app are encrypted. In addition, a PIN is required to login to the app.
Email verification is also required.
The documents provided for KYC verification purposes are stored on AWS servers in Australia and are encrypted.
In relation to security of banking details and payments, a small test deposit will be undertaken to confirm the employee’s bank details. Once the employee is set up as a Payee via SalaryFlex’s Australian bank and the small deposit is confirmed, the banking details will be deleted from SalaryFlex’s database. Further, no changes to bank details can be made via the app for security purposes.
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SalaryFlex’s terms and conditions with each employee require them to confirm that all advances plus employee funded transaction fees can be deducted by their employer and paid to SalaryFlex™ on the Due Date.
Additionally, each advance request made via the SalaryFlex™ app requires the employee to expressly consent to such deduction, or the advance will not be made.
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SalaryFlex™ donates 1% of its after-tax profits to Ardoch, which is a children’s education charity focused on improving educational outcomes for children and young people in disadvantaged communities.
One in three children in Australia’s most disadvantaged communities start school developmentally vulnerable and they continue to fall behind as they progress through school. Ardoch seeks to change this.