In a recent Bloomberg article “Walmart’s Early Pay Perk Is Popular, But Sometimes Has a Cost“, the author raised questions why a perk that was supposed to help employees feel less stressed while boosting retention, among other benefits, did not achieve either a company’s or its employees’ goals.
Research has shown that by changing their employees’ pay experience, companies can maximize efficiency by reducing turnover and decreasing employee absenteeism, while simultaneously increasing productivity and employee satisfaction. If implemented correctly, on-demand pay can save employers and employees millions of dollars every year.
But all on-demand pay platforms are not created equal, as Walmart experienced, and this article reveals the consequences of rolling out a program that lacks features that are critical to its success.
According to research conducted in 2021 by Mercator Advisory Group, the data from millions of employees across every vertical is showing us a very different picture.
Read the full analysis here