79% Of Employees May Consider Working For Companies Offering Immediate Wages: Report

According to an HRD Asia report, 79 Per cent of the workers said that they may prefer working for a company that would offer them the facility of Immediate wages. Another 56 Per Cent said they probably would have stayed a month to over a year longer in their job if they had access to their earned pay.

A new study conducted by Instant Financial found that 60 per cent of the respondents believe that all employers should offer staff immediate access to their earned wages every day.

The study further revealed that 40 Per cent of respondents who resigned during the pandemic reported that they could have stayed back in case they would get hands on a portion of their salaries immediately.

“Another 56 Per cent said they probably would have stayed a month to over a year longer in their job if they had access to their earned pay. With responsible on-demand pay, employers have the opportunity to give all employees more control over their financial wellness, and simultaneously reduce the pressure on payroll professionals caused by increased turnover and new hires.” Tal Clark, CEO of Instant Financial said.

He further said that as organizations are taking a step back and reassessing their benefits offerings to successfully compete for employees in today’s workforce, the need for immediate access to wages has become very apparent in today's economy.