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Key HR and blockWRK Partner to Bring Crypto Rewards to US Employees

CryptocurrencyNov 22, 2021 01:30PM ET
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Key HR and blockWRK Partner to Bring Crypto Rewards to US Employees

  • Key HR and blockWRK are partnering to bring crypto rewards to US employees.
  • Employers can set goals for employees, once fulfilled, employees will earn WRK tokens.
  • WRK tokens can later be converted to USD via a Visa (NYSE:V) debit card.

Key HR — a Florida-based payroll and professional employer organization and blockWRK — issuer of the federally-approved WRK token and have struck a partnership. This means that the two will work together to bring greater benefits to the working population of the United States.

Specifically, the partnership grants blockWRK’s platform to access Key HR’s B2B client base. The former uses smart contracts to give employees crypto rewards for meeting daily goals set by company management. More so, it features robust telehealth functionality for injuries as well as mental health counseling which provides employers with a valuable array of benefits.

Known for its professional employer organization, Key HR brings a lot to the table. For instance, it offers payroll processing, HR outsourcing, insurance, and benefits to thousands of employees from hundreds of companies across the USA.

The HRO Executive at Key HR — Scott Hanson, says,

“We believe that BlockWRK’s solution sets the new benchmark for the entire payroll services industry. BlockWRK offers companies a fair and transparent rewards model built on an advanced technological stack and brings 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.”

Now, by working with blockWRK, Key HR is providing employers and employees with a whole new suite of benefits and tools. In fact, this comes in a single app that will revolutionize the way employees are managed, retained, and incentivized during the post-COVID era.

During the Covid-19 lockdowns, much of the U.S. workforce was demotivated and burnt out. In particular, research points at increased risk of severe stress with a decrease in the capacity for sustained attention, more so for those working remotely.

In fact, about 4.3 million US employees resigned from their positions in August. This highest number on record is taken from official figures that came out in October, according to the Bureau of Statistics.

Thus, this partnership will help alleviate the ever-growing pressure for employers to retain their talent and manage a spontaneously decentralized workforce. On this, blockWRK leverages blockchain technology to improve employee retention along with HR management.

Likewise, the CEO and founder of blockWRK — George Mylonakis, adds,

“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 endeavor. 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.”

To name a few perks, employers can set up daily goals for employees via the BlockWRK platform. These could include on-site safety assessments, completing business-related KPIs, or logging 10,000 daily steps via FitBit. The latter helps in linking employee wellness to improve both mental and physical wellbeing.

More so, every employer can customize the rewards programs to meet the specific needs of their business. Moving on, once a goal is met, the smart contract will automatically reward the employee with the native WRK token. Later, if desired, the employee can convert the WRK into USD via a Visa debit card.

Furthermore, the app also lets employees gain up to $200 from their next paycheck. They can get this as an advance for a flat $5 fee along with a 0% APR. Adding on, blockWRK’s features also come with the AI-enabled injury checker as well as a free 24/7 mental health counseling line. Lastly, more features will come in 2022.

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Key HR and blockWRK Partner to Bring Crypto Rewards to US Employees
 

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