Case Studies
Custom Tailored Paperless Payroll
Men's Wearhouse – A leading provider of quality menswear, Men's Wearhouse has been honored multiple times as one of the Fortune 100 Best Companies to Work.
The Challenge
Men's Wearhouse places a strong focus on their employees; an emphasis that has resulted in the company getting honored multiple times to the Fortune 100 Best Company to Work list. As part of this approach, Men's Wearhouse continually looks to enhance their employee experience. As Gulya Belchuk, Treasury Manager for Men's Wearhouse explained, "Our company is extremely employee focused, and we are constantly on the lookout for new benefits and innovations to improve our employee's experience with us." Men's Wearhouse was in need of a solution that helped resolve payroll delivery delays and consistently provided on-time payments to their employees. The company was also looking to decrease their costs related to the production, distribution and management of paper paychecks.
The Solution
"The opportunity to provide all of our employees with guaranteed, on-time and immediate access to their pay was one we couldn't pass up. We wanted to help our employees without bank accounts; those using check cashing services and paying up to 5% of their pay to cash their checks gain easy, free access to their pay. The Citi® Prepaid Services Payroll Choices Program enables us to do that." Men's Wearhouse solution delivered the tools to easily and quickly convert their employee base to a completely paperless and electronic payroll. The cornerstone of this program is the Citi Prepaid Payroll Card, a prepaid Visa prepaid card that allows Men's Wearhouse to easily deliver electronic pay to their entire workforce, eliminating the hassles their Payroll Department and employees face with traditional paper checks.
"With Citi Prepaid, we are able to get our employees their pay, guaranteed pay day morning, regardless of whether they are in-store on payday," said Belchuk. "Because of the nature of our business, many of our employees are not on location on payday – this can cause a huge strain for our employee base as well as distribution headaches in-store. This gives our employees peace of mind."
The Result
With the Citi Prepaid electronic Payroll Choices solution, Men's Wearhouse quickly eliminated paper checks and the high cost and hassles associated with them. This solution also provides electronic paystubs, compliance tools and easy technology integration (with no technology investment), together with a strategy and team of consultative experts to help businesses achieve their corporate objectives. "We have significantly reduced our costs with the Citi Prepaid Payroll Choices Program – we went from delivering 15,000 documents, mostly via express delivery, on a weekly basis," stated Renea Levine, Payroll Manager, Men's Wearhouse. "Now with Citi Prepaid, we have eliminated 80% of that volume and cost."