Offering creates an additional source of savings for employees
BERKELEY, Calif. (PRWEB) October 04, 2019
EvoShare, a microsavings technology company, and Paylocity (NASDAQ:PCTY), a cloud-based provider of payroll and human capital management (HCM) solutions, have partnered to fully automate the process of funding additional savings account contributions with cash-back from employees' everyday spending, with unprecedented ease-of-use and scalability for HR and Payroll teams.
EvoShare's proprietary system enables employees to contribute to a financial savings account like a 401(k), 529 College Savings Plan or HSA, while shopping online and locally at stores, bars, and restaurants, receiving up to 30% cash-back towards their retirement plan, savings account, or student loan repayment.
"By partnering with Paylocity, we are bringing a streamlined process for employees to get cash-back from the spending they already do," said Eugeny Prudchyenki, CEO of EvoShare. "Employers can increase plan participation and satisfaction without extra work, and employees earn extra money to put towards their financial future. It's a win-win all around."
"Paylocity and EvoShare both have the goal of improving the employee experience at work," said Chris Westfall, Paylocity Vice President, Channels and Alliances. "Our integration and partnership allows employers to provide a high value benefit to their teams without requiring a heavy lift by the HR and Payroll teams."
Paylocity's innovative HCM tools make offering EvoShare's unique benefit a completely seamless operation. Once employers are using the integrated solutions, they onboard plan participants to the program, and the cash back employees earn flows into their company-based savings every quarter like clockwork. From end to end, it is a fully automated process for employees to fund their financial security.
Learn more at http://www.evoshare.com/paylocity
About EvoShare:
EvoShare is a financial platform that enables employees to save for their 401(k) or 403(b) while shopping online and locally at stores, bars, and restaurants. The service allows employees to spend at their favorite businesses, and receive up to 30% cash-back toward their retirement plan through their employer.
For the original version on PRWeb visit: https://www.prweb.com/releases/evoshare_partners_with_paylocity_to_automate_cash_back_savings_offering_for_employers/prweb16625070.htm
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