The labour market is still extremely competitive. This is doubly true in logistics, which is emerging from the pandemic years as a winner. Workers know they are in demand and choose carefully who they want to work for. As a result, recruiting new colleagues tends to be expensive and it is not uncommon for them to stay in one workplace for a long time and move on to another. But some companies have found a solution in (un)traditional benefits.
Meal vouchers, meal vouchers, pension or life insurance contributions - there are many ways for companies to attract and retain new employees. But in a time of an overheated job market and financial uncertainty, these widespread benefits may not work.
At the beginning of 2020, the technology startup Advanto was founded, offering a service that has never been seen before on the Czech market, namely the possibility to withdraw a part of your earnings at any time during the month. In other words, Advanto offers a technology that allows companies to leave it up to their employees when, how much and how many times they wish to receive their earnings into their account, without any demands on the IT or accounting department in the company.
Logistics firm Hopi Advanto introduced the service in June this year. "The aim was to provide employees with a functional, user-friendly and administratively unburdensome payroll advance system that they could use in case of unexpected financial expenses, such as a broken fridge, washing machine or car," says Ľubomír Horník, head of HR at Hopi.
Fiege has had a similar experience. "We wanted to keep up with the times, i.e. instead of paying wage advances in the classic complicated way, we decided to be more progressive and still allow people to withdraw their money before their salary runs out on their account. After all, it is a safer way than any other loan," says Dagmar Pixová, HR manager at Fiege.
Pixová adds that among other reasons for introducing Advanta was the desire to make the benefits offer more attractive and the demand of existing employees for a similar benefit to be introduced in the company.
According to Petr Otáhal, HR expert and head of the Association of HR Professionals of the Czech Republic, it is understandable that there is interest in the payout at any time. "It is a benefit that exactly meets the most basic need of a huge group of employees. And that is pay," he says.
HR expert Gerhard Knop from the Leadership synergy group confirms that an on-demand payout can be more valuable to the employee than a higher payout once a month. "A quick reward twice the reward," he points out.
Packeta, the company behind the popular logistics service Zásilkovna, has also recently started testing Advanto. "The decision to introduce Advanto was precipitated by the price hikes and the general times that threaten the financial stability of our team. Advanto is proving to be a very good tool to keep track of your income and expenses and also as a safety net in case someone is short of money just before payday," says Olga Leharova, Head Of Human Resources at Zásilkovna.
"We are seeing higher loyalty across the companies where people use Advanto," says Fortelný. "In addition, the Advanto app, which adds money in real time that I can cash out immediately, motivates people to work more hours, for example by signing up for an extra shift," he adds.
"We hear more and more often from company management that employees are starting to see money and quick access to it as the new standard. Our mission is to make payday loans, or generally unprofitable and unsafe loans, disappear from the market. So that people don't feel the need to use them at all," concludes Advanto founder Fortelný.