Before the pandemic:
- The U.S. Bureau of Labor Statistics estimated hourly wage workers represented almost 60 percent of all U.S. workers
- Even while early retirements and the nationwide labor shortage brought on from the COVID-19 pandemic have altered the labor market, hourly workers still account for a sizeable portion of the American workforce
With pandemic-era restrictions largely a thing of the past:
- Service industries will continue to depend on these hourly workers, but the time off during lockdowns has forever shifted workers’ priorities
- Organizations can no longer count on the same perks and benefits to attract talent, and not even signing bonuses are a convincing factor for prospective hires
- Companies need to find ways to differentiate from the crowd if they want to attract top talent
On-demand pay offers a solution to both sides. The concept is simple: workers traditionally receive their paychecks twice a month, but on-demand pay gives employees the option to receive their wages as soon as immediately after a shift has been approved.
This e-book gives an in-depth look into the concept and how it creates an offering that incentivizes hourly employees to stay long-term — all as a no-cost benefit to the employer.