Earned Wage Access is the future among benefits. Advanto joins forces with Up Czech Republic.

Earned Wage Access is the future among benefits. Advanto joins forces with Up Czech Republic.

Advanto, which helps employees gain control over their finances and takes care of their financial health with the unique "payout at any time" benefit, has joined forces with up Czech Republic, a leading provider of benefits for domestic companies. Thanks to the newly established cooperation, 350,000 employees and temporary workers will be able to reach the new benefit directly in the Můj Up platform.

Many HR professionals wonder what the benefits will look like in the post-covid era. Once the government's measures are over, there will be a shortage of workers again, and the tug-of-war over labor will erupt again. At the same time, the world of employee benefits and needs is changing dramatically. What people once considered an advantage is now often commonplace.

Employees are interested in freedom, flexibility, work-life balance – time for work, for themselves and family, physical and mental health and financial stability. Onlineing plays a huge role, people want to have their benefits available simply online with a few clicks. Employees' attention is more focused on money, but it is not only about the absolute amount they earn, but also about better opportunities to access the wages earned and easier handling of personal finances.

That the topic of money is still crucial for employees is confirmed by Advanta's research and statistics:

  • 56% of people spend more than half of their income within a week of paycheck.
  • 60% of employees are unable to pay a one-off cost of CZK 10,800.
  • 70% of Czech employees expect help from their employer in case of financial difficulties.
  • 67% of people consider the possibility of choosing a salary more than once a month to be a better solution than a loan.
  • 57% of people would like to be able to process the application for a payout at any time or a salary advance in an application on their mobile or computer.

New benefit of Advanto

  • It allows employees immediate access to their own earned wages at any time of the month. All using a smart app on your mobile phone or computer.
  • In the event of unexpected spending, people get a secure solution, do not have to use loans, and can better manage their own cash flow during the month.
  • Thanks to the automated savings that Advanto plans to launch soon, employees will be able to gradually build up the necessary reserve.

Working with the leader in employee benefits, UP Czech Republic, can transform and digitize the entire ecosystem of employee care and help thousands of people to better financial health.

What is Advanto?

Advanto is a smart app that allows employees to access a portion of their earned wage at any time and, in just a few clicks. It helps companies improve recruitment, reduce turnover and increase employee loyalty.

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