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As the economy snaps back, there is a current and growing labor crunch. We know this because our phone is ringing off the hook. Every hotel chain, every casual dining company, every retailer is asking – can you help us bring the workforce back to work? Employers have done their research and have identified a cost-free way they can gain an advantage over their competitors. When it comes to recruiting faster and retaining employees longer, on-demand pay is the solution. In fact, a recent survey reveals that almost half of those polled would actually leave their job for one that offers on-demand pay, with 11% saying they would change roles for a job paying a similar amount for a sign-on bonus of $50 or less. That’s compelling evidence that employees see the inefficiency of the current pay system.
Today’s workforce We are also looking at a fresh workforce at many companies, with 53% of respondents being in their jobs 6 months or less. This modern workforce is digitally enabled, with high expectations of instant access to any goods or services. No wonder that today’s workforce is not going to wait 2 weeks for money for which they have worked hard. After all – it’s their money – they have earned it. And what we’ve learned during the pandemic, on-demand pay has evolved from a nice benefit to have to an essential one. With more than half (52%) of new job seekers looking for on-demand pay in their next job, offering this powerful benefit gives employers an immediate advantage in the labor market.
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(https://recruitingdaily.com/recruiting-atscale-part-4-the-essentials/) D&I and the Pressure to Deliver
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