Executives and employees favor the pay option, but adoption is slowing.
In recent years, more and more organizations have been offering on-demand pay as a financial benefit. Many employees welcome the opportunity to receive their paychecks ahead of time. In fact, a study from ADP found that 76% of employees considered on-demand pay to be a crucial benefit.
However, experts see both pros and cons in this pay option. It can provide reliable financial relief in place of predatory payday loans, but some say it might also encourage irresponsible spending habits. What do you think?
Read more about the biggest payroll tech trends in 2024, and join SHRM for more resources to streamline your pay processes.
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