83% of workers believe they should have access to their earned wages at the end of each workday or shift. But why?
Nowadays, job seekers aren’t solely looking for a paycheck; they seek comprehensive and forward-thinking employment packages. Salary, while important, is only one piece of the puzzle. Millennials and Gen Z, in particular, prioritise flexibility, financial wellness, and a positive work culture. Taking care of your finances is overwhelming, and instant access to pay is the relief many workers have longed for. As a result, Pay OnDemand has been a crucial piece in the puzzle of future-proofing retention strategies in recent years.
What is Pay OnDemand?
Pay OnDemand with mywage allows employees to access their earned wages whenever they need them, disrupting the traditional monthly or bi-weekly pay cycle. This flexibility aligns with the modern workforce’s desire for control over their financial lives, often providing a safety net for individuals living paycheck-to-paycheck who may end up facing unexpected bills, or facing unprecedented life events. By offering this perk, your company showcases a commitment to employee well-being, financial empowerment, and a progressive work culture.
The Appeal to Top Talent
1) Financial empowerment and wellbeing
Top talent is increasingly prioritising employers who recognise and address their financial well-being. On-Demand Pay aligns with this mindset, providing employees with the flexibility to manage their finances effectively. This not only reduces financial stress but also fosters a positive workplace environment. This enhances the overall employee experience by acknowledging the diverse financial needs and lifestyles of the workforce, thereby creating a more supportive and inclusive workplace.
2) Competitive advantage
In a competitive job market, companies need to differentiate themselves to attract the best talent. On-Demand Pay can serve as a unique selling point, giving organisations a competitive advantage in attracting candidates who value financial flexibility and control.
The concept of OnDemand and instant reward are the norm. Whether it be instant food at your doorstep, instant access to entertainment, or instant information at your fingertips, our finances shouldn’t be the core part of our lives being left behind. Employees are wondering the same thing.
With mywage, Pay OnDemand is a game-changer in the quest to attract and keep top-notch talent. Our services allow your workforce to access their wages when it best suits them, allowing them to take control of their financial lives. Discover Pay OnDemand with mywage today.
