Walmart just gave its employees a huge perk

  • Walmart's 1.4 million US employees can now access earned wages two weeks ahead of their scheduled paychecks.
  • Walmart worked with Silicon Valley-based startups PayActiv and Even to roll out the new feature. 

Walmart is giving its employees the ability to access their wages ahead of scheduled paydays. 

Using an app called Even, Walmart's more than 1.4 million US employees can now request immediate access to their upcoming paychecks, instead of waiting two weeks between paychecks.

RELATED: Salaries of employees at 25 top tech companies

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Salaries of employees at 25 top tech companies
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Salaries of employees at 25 top tech companies

Google

Average annual bonus: $32,478

Average sign-on bonus: $27,547

Average annual base salary: $136,000

Netflix

Average annual bonus: $0

Average sign-on bonus: $3,520

Average annual base salary: $206,000

Twitter

Average annual bonus: $120

Average sign-on bonus: $26,144

Average annual base salary: $149,000

Apple

Average annual bonus: $20,298

Average sign-on bonus: $27,201

Average annual base salary: $102,000

Facebook

Average annual bonus: $33,225

Average sign-on bonus: $45,708

Average annual base salary: $145,000

Oculus VR

Average annual bonus: $395

Average sign-on bonus: $6,926

Average annual base salary: $119,000

Amazon

Average annual bonus: $24,732

Average sign-on bonus: $41,340

Average annual base salary: $118,000

Square

Average annual bonus: $988

Average sign-on bonus: $17,996

Average annual base salary: $134,000

Uber

Average annual bonus: $31,633

Average sign-on bonus: $1,807

Average annual base salary: $117,000

Pinterest 

Average annual bonus: $4,374

Average sign-on bonus: $33,376

Average annual base salary: $151,000

Tesla

Average annual bonus: $4,779

Average sign-on bonus: $19,447

Average annual base salary: $105,000

UnitedHealth Group

Average annual bonus: $7,280

Average sign-on bonus: $118

Average annual base salary: $87,000

Snap Inc.

Average annual bonus: $10,588

Average sign-on bonus: $23,705

Average annual base salary: $127,000

Hewlett Packard Enterprise Co.

Average annual bonus: $10,756

Average sign-on bonus: $8,265

Average annual base salary: $131,000

CSRA

Average annual bonus: $13,732

Average sign-on bonus: $1,186

Average annual base salary: $100,000

credit: Facebook

Capital One

Average annual bonus: $15,114

Average sign-on bonus: $8,568

Average annual base salary: $107,000

Fitbit

Average annual bonus: $18,069

Average sign-on bonus: $25,459

Average annual base salary: $128,000

Pandora

Average annual bonus: $22,316

Average sign-on bonus: $18,886

Average annual base salary: $109,000

Microsoft 

Average annual bonus: $23,224

Average sign-on bonus: $20,191

Average annual base salary: $179,000

Airbnb

Average annual bonus: $23,250

Average sign-on bonus: $23,250

Average annual base salary: $124,000

Arista Networks

Average annual bonus: $27,497

Average sign-on bonus: $18,652

Average annual base salary: $151,000

credit: Facebook

Linkedin

Average annual bonus: $32,216

Average sign-on bonus: $25,418

Average annual base salary: $149,000

Dropbox

Average annual bonus: $32,707

Average sign-on bonus: $32,833

Average annual base salary: $144,000

VMware

Average annual bonus: $33,145

Average sign-on bonus: $18,851

Average annual base salary: $147,000

Salesforce

Average annual bonus: $39,959

Average sign-on bonus: $28,314

Average annual base salary: $142,000

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The workers will be able to make those requests up to eight times a year, Walmart said. The Even app also has financial planning tools to help employees manage their expenses. 

Walmart and its partner, Silicon Valley-based startup PayActiv, said the new perk is meant to help employees who have unexpected expenses between paychecks. 

"Every American worker faces unexpected and stressful between-paychecks expenses," said Safwan Shah, founder and CEO of PayActiv, which worked with Walmart to develop the new feature. "With on-demand access to earned wages, Walmart associates will be able to save more, avoid the financial traps that reduce their take-home pay, and get a level of stability that few service sector employers provide."

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Walmart has long faced criticism for underpaying its employees. But the company has been working to improve conditions for its workforce by investing $2.7 billion over the last couple years in higher wages, training, and better scheduling management. 

"Traditional approaches to workforce well-being often focus solely on physical health, but we know from listening to our associates that financial well-being is just as important," Walmart chief people office Jacqui Canney said in a statement. "We're investing to give our people financial tools that help provide more stability in their lives, which we believe will empower them to be all they can be when they are at work serving our customers."

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