ALC - edenred

With so many new benefits emerging for companies, executives and human resource leaders have been on top of the changing landscape.

Would you like to close job openings 15 percent faster? Could you hire with more confidence if your churn rate was 21 percent lower?

It’s no secret some businesses and industries are having a hard time filling jobs and retaining employees this year. Innovative companies are thinking harder about what they can do to keep their employees, including offering more meaningful benefits.

Could you cover an unexpected $1,000 bill with your savings? If not, you’re are not alone. A recent Bankrate survey revealed that 56 percent of Americans could not cover the hypothetical unexpected bill, a sign that people are having a hard time building savings and emergencies funds. This is despite the fact many financial experts urge people to set aside funds for emergencies. It also means people and families are on the edge of disaster for financial security.

On-demand pay is growing rapidly as businesses adopt it to pay their employees across the country. It is considered a trustworthy payment solution for employers and employees. There are several state and federal regulations companies must follow to remain in compliance.

There’s no denying on-demand pay has left its mark as a viable compensation solution for companies. Businesses and employees have found it to be a better way to pay employees rather than making them wait for a paycheck every two weeks. But will on-demand continue to grow in 2022?

5 Ways On-demand pay benefits employers

3 big benefits for employees with on-demand pay