We envision a world where employee benefits work for everyone, making companies and their workers more financially resilient. Financial systems today aren’t built for the majority of workers paid at hourly rates, leaving more than 78 million workers stranded to figure out how to save, manage debt, and plan for their futures - on their own. It’s a lot to juggle. So when something unexpected occurs like a flat tire on the way to work, it can quickly spiral out of control with punitive penalties and fees along the way. In most cases, the overburdened worker quits, which incurs an even greater financial burden to the business. Turnover costs up to 200% of an employee’s annual salary so depending on the role and industry, billions of dollars are lost each year to employee attrition, and the subsequent replacement and retraining costs. At Ezra, we help talent-focused employers retain their workers through emergency savings accounts. The return on investment is simple: helping employees save pays back dividends to the bottom-line. We give companies a reliable, research-proven way to reduce attrition while improving financial resiliency across its workforce, the first step towards a financial system that works for all of us.
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