This is a 2019 SHRM Annual Conference and Exposition (#SHRM19) interview is with Brink’s Money Paycard, a simple payroll solution. Below is a quick Q&A with Jonathan Ginsberg.
Who is Brink’s Money!? Tell us everything, just as you would someone approaching your booth and asking you this question at SHRM ‘19 in Las Vegas.
Everyone has a right to feel safe and secure, and there’s no company that understands that better than Brink’s. Utilizing decades of expertise in safeguarding money, we have designed convenient prepaid debit card programs to help customers meet their everyday financial needs.
The Brink’s Money program allows companies to offer an alternative payroll solution for employees who have been formerly rejected or under-served by traditional banks. It enables employers to reduce the workload of printing and distributing paper checks, while also offering valuable benefits to their employees who get to have instant and penalty-free access to their wages on payday.
We also offer an end-to-end expense management solution, called Brink’s Business Expense, designed to give managers and administrative teams full control over company spending. This allows them to take a proactive approach to prevent unauthorized spending. There is also an added benefit for finance and accounting teams, saving them hours in bookkeeping time by having access to useful information in real-time on every transaction.
Let us in on the magic. What’s the payroll process like at Brink’s Money? How do you utilize your own tech and processes to ensure efficiency?
Our payroll card program has significantly alleviated the burden on our payroll department and branch managers, as they no longer have to worry about handling paper checks for employees or new hires who do not have bank accounts.
From drivers and messengers to cash processors and administrative staff, there is a wide range of employees at Brink’s Inc. currently using the Brink’s Money payroll cards. Many of these formerly received paper checks and decided to switch to direct deposit for the convenience it offered them. They no longer had to wait long hours or incur additional fees to simply cash a check. There’s also a number of employees who use our cards to set money aside every month to save for holidays and vacations. We even have some who give these cards to their children when they go to college, which is ideal to send allowances and teach them valuable financial lessons.
What are the biggest challenges companies face when utilizing your services? How do they overcome those challenges?=
We think that one of the biggest challenges for companies is to communicate to their employees the benefit of switching from paper checks to payroll cards. Here at Brink’s we help by offering a multitude of marketing material to encourage the adoption of the cards. The decision becomes easier when you help employees realize the amount of money they could potentially save by avoiding check cashing fees every year. With our program, cardholders have different ways to access their wages for free.
Employers can also rest easy knowing they will always be in safe hands, and that whenever an issue arises they’ll have multiple levels of support aside from client services. We offer a direct line of communication with our team through our designated account managers, who will go out of their way to truly understand their business needs and provide the best solution possible. That’s our promise.
What do you wish more HR professionals and recruiters knew about alternative payroll solutions?
Let’s all take a minute to think about how costly it is for employees to receive paper checks, both in terms of time and money. Imagine having to spend valuable time that you could have otherwise dedicated to your family or friends, waiting to cash a paper check. Add to that being charged a cashing fee, plus incurring transportation costs to take care of these money-related chores every single time. Additionally, the employees will also have the burden of finding a way to pay utility providers, for example, via cash, sometimes wasting additional time to go to each office, or having to pay extra for cashier checks.
As HR professionals and recruiters, you can help your employees achieve greater work-life balance by not only offering payroll cards as an option but also by promoting its many benefits. Instant access to your pay stub, multiple fee-free options, online and mobile banking tools to help you keep track of your spending activity, a full range of fraud protections, and even cash back rewards. Those are truly invaluable benefits that could make you stand out as an employer.
How important are worthwhile benefits in employee retention?
Employee happiness is critical to success. When left unchecked, employee dissatisfaction can lead to high turnover rates. HR professionals and recruiters understand better than anyone else how costly it is to replace a good employee. Offering unique benefits not only allows your company to retain employees, but it also helps you attract the best talent.
Achieving work-life balance is already a challenge for most of us, add to that having to experience financial hardship every day of your life. The lack of financial well-being can increase employees’ stress and on-the-job distraction, which can cost businesses thousands in productivity. Providing support and technology to help employees achieve financial freedom can prove beneficial for companies as well.
For anyone who won’t be able to make it to the Brink’s Money booth in Las Vegas, what do you want them to know?
When you are looking for added benefits for your employees, please consider offering a recognized and user-friendly paycard program like Brink’s. We will give you a tailored experience to accommodate your company's needs and deliver on our promise of improving the lives of your employees through a smart payment solution built on 160 years of Trust and Security.
Visit the Brink’s Money Paycard booth #3128 at #SHRM19!
Brett Farmiloe is the Founder and CEO – and currently CHRO - of Terkel.io, a platform where business leaders can answer questions related to their expertise and get published in articles featuring their
insights. Brett is a #SHRM22Influencers and has also been a keynote speaker at several state SHRM conferences around the topic of employee engagement.
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