The Shangri-La Group is the first hotel chain in the Philippines to offer the earned wage access facility to its employees, but other businesses are quickly adopting it, too
This is AI generated summarization, which may have errors. For context, always refer to the full article.That’s because the Shangri-La group, which operates several five-star luxury hotels in the country, is among the Philippines’ pioneering adopters of earned wage access .
Del Fierro said that they’re in talks with several large BPOs in the Philippines who believe that EWA could be a “perfect” solution to help them with their high attrition rates. In particular, BPOs note that their highest attrition rate comes during a new employee’s first 90 days. “If there’s a need for cash flow, this should be their first pocket and not to borrow money,” Del Fierro told Rappler, adding that some lenders charge interest as high as 10% per day.In other countries like the United States and Malaysia, EWA has already made its mark, with big brands like McDonald’s, Subway, Walmart, and Uber being among its earliest adopters. And it’s proven to be effective, too.
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