Global Study Reveals Increasing Demand for Alternative Payment Methods and Flexible Pay Cycles
"From raises, to robust benefits and workplace perks, employers today are using every opportunity to attract and engage talent," said Ahu Yildirmaz, co-head of the
New & Non-Traditional Payment Options are Necessitated:
Globally, employees are urging employers to offer unconventional payment methods.
- 79% willing to accept payment from their employer via mobile, digital or prepaid paycard
- 97% of employees prefer not to receive paper checks from their employers
- Looking ahead, 93% of workers believe employers will pay them via paycards, digital platforms or mobile wallets 10 years from now
Factor in Financial Wellness:
Employee expectations for financial wellness offerings at work are growing.
- 79% of employees say they want to work for an employer that cares about their financial wellness
- 90% of millennial employees are willing to share at least some personal information (i.e., spending habits, bank balances and family/healthcare needs) with their payroll provider to track finances and receive advice
- Nearly all employers surveyed (98%) agree that employee financial wellness has a direct impact on their organization in some way – especially concerning productivity (67%) and engagement (62%)
About the Evolution of Pay Global Report
The Evolution of Pay Global Report assesses changes in the payment landscape and the role of pay in talent management globally. It explores employee and employer perceptions and attitudes about traditional and emerging pay methods to address some of their biggest human capital management concerns. An online survey was conducted among 4,000 employees and 2,900 employers across 13 countries in companies with 50+ employees. Countries surveyed include: U.S.,
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Allyce Hackmann, ADP, LLC, Allyce.Hackmann@ADP.com, 201-400-4583