Because the events business fluctuates, employees started asking for a way to get more stability around their income during periods of lower employment, which for us is June through August.
Employees across the board are increasingly interested in financial wellbeing benefits, particularly after several years of high inflation. Help growing their savings, access to money during an emergency, managing debt, and help with student loans are all perks that employees say they want.
To encourage workers to sign up, Encore provides a $100 bonus to workers who contribute $500 or more to the account.
Out of 12,000 employees, roughly 2,500 use the technology. And among that group, retention has increased by 14%, according to the company.
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