Business Payments Blog

Winning over workers today as businesses nationwide focus on rebuilding in a post-pandemic environment, is about enabling financial health and participation in the digital economy.

The financial well-being of employees is often dependent on how they can manage their personal finances. Better control over their lives, including how and when they are paid, is a trend that will continue to play out in the workforce dynamics. Earned wage access is part of the equation.

Retaining hourly workers can be a problem but never more so than the past few months, when the sheer turnover rate has made it clear that employers need more financial tools to keep workers happy. Higher pay and signing bonuses are nice-to-have perks, but it’s also imperative that employers embrace what hourly workers are saying — they want to have more control over how and when they are paid.

According to a recent Netspend survey of nearly 2,000 hourly workers, 77% said they want faster access to earned wages, and 37% indicated they were willing to switch employers for the benefit of early wage access.

Employers across the United States are working in earnest to rebuild workforces as the demand for services increases across a wide variety of industries.