BlockWRK, issuer of the federally-approved WRK token, announces its partnership with Key HR, a Florida-based payroll and professional employer organization. The partnership grants Key HR’s B2B client base access to BlockWRK’s platform, which utilizes smart contracts to reward employees with crypto for meeting daily goals set by company management and features robust telehealth functionality for injuries and mental health counseling providing employers with a valuable suite of ancillary benefits.
As a professional employer organization, Key HR provides HR outsourcing, payroll processing, benefits, and insurance to thousands of employees at hundreds of companies across the United States. Together, blockWRK and Key HR are providing these employers and their employees with a never-before-seen suite of tools and benefits rolled into a single app that is set to revolutionize how employees are managed, incentivized, and retained in the post-COVID era.
In the wake of pandemic-induced lockdowns, there are multiple signs indicating the U.S. workforce is burned out and unmotivated, with research pointing at increased risk of severe stress and a decreased capacity for sustained attention. This problem is even more challenging with many employees working remotely. Some 4.3 million U.S. workers resigned from their positions in August, according to official figures released in October—the highest number on record, according to the Bureau of Statistics. The crisis leaves the employers under ever-growing pressure to retain their talent, motivate employees, and manage an increasingly decentralized workforce.
The BlockWRK platform helps to alleviate this employment crisis by leveraging blockchain technology and smart contracts to revolutionize employee retention and HR management.
Employers can use the BlockWRK platform to set up daily goals for employees, such as completing business-related KPIs, on-site safety assessments or logging 10,000 daily steps via FitBit, which researchers link with improvements in both mental and physical wellbeing. Every individual employer can customize the rewards programs to meet the bespoke needs of every business and role. Once the goal is met, smart contracts automatically reward the worker with the native WRK token, which can be optionally converted into USD through a Visa debit card. By using smart contracts, BlockWRK removes the key hurdle before businesses looking to launch such reward programs by sparing them the need for non-stop management oversight required for the implementation.
The app also allows the employee to access up to $200 from their next paycheck in advance for a flat $5 fee, with 0% APR, which positions it as a major alternative to the predatory paycheck loan industry. Instantaneous wages on demand at 0% APR reduce employee stress by providing them with a powerful tool for critical bills and other financial obligations in a timely manner. BlockWRK’s other features include an AI-enabled injury checker and a free 24/7 mental health counseling line. Additional features will be announced for 2022.
“With this partnership, BlockWRK is taking tangible steps to revolutionize the future of payroll, and we couldn’t be more excited to have Key HR as a partner in this endeavour,” says George Mylonakis, CEO and Founder of BlockWRK. “BlockWRK gives employers a turn-key solution to revolutionize employee incentivization and maintain a happy and healthy workforce. Our partnership with Key HR allows us to rapidly onboard tens of thousands of employees as new users, and serves as the model for how blockWRK intends to grow our user base through industry partnerships moving forward.”
“We believe that BlockWRK’s solution sets the new benchmark for the entire payroll services industry,” says Scott Hanson, HRO Executive at Key HR. “BlockWRK offers companies a fair and transparent rewards model built on an advanced technological stack and bringing a robust set of extra features to the table. We can easily imagine a platform like this used to manage the agile workforce of the future.