Israeli startup wants you to receive part of your salary mid-month

According to a 2022 CBS (Central Bureau of Statistics) report, the average Israeli changes about 5 jobs over their lifetime, compared to only 2.7 in the 1990s. This trend is due to a combination of factors, including technological advancement, globalization, and the desire for challenging and satisfying work. As a result, workers are forced to deal with employment insecurity and the frequent development of new skills, while employers struggle to find quality workers and keep them over time.

To cope with these challenges, some employers are taking various actions to retain their current employees and attract potential ones. Traditional benefits like elaborate parties and pampering vacations are no longer sufficient, and employers are looking for innovative and creative solutions.

The Israeli startup Payro believes that the possible solution is flexible salary payments. This payment method, which has become particularly popular around the world, allows millions of people to receive their wages before the end of the month, and according to forecasts, this situation will become the global standard by 2030.

Payro – Collaboration with AllJobs

Payro is a fintech startup that offers a platform for employers to pay salaries in a flexible manner. The company allows employees to withdraw their salary before the payment date whenever they need it, without having to wait until the 9th of the month. This helps employees to pay bills or make various purchases without the fear of going into overdraft. Payro offers an organizational system that allows an employee to withdraw up to 50% of the salary that has accumulated up to the moment of withdrawal. The employee is required to pay a withdrawal fee of up to 8 shekels, while the employer can choose to subsidize it.

Payro collaborates with the job search website – AllJobs, which offers companies that post through it to highlight the availability of the service at their own workplace. "The collaboration with AllJobs is a significant milestone for Payro that will enable us to reach a broader audience of employers and employees in the economy," says Ariel Yaakov, CEO and founder of Payro. "Using Payro helps employers to strengthen the relationship and trust with their employees and thus they benefit from better employee retention, faster recruitment, and an increase in productivity out of a sense of job satisfaction."