With low unemployment and workers willing to take a job across the street for a mere $.25 increase in their hourly wage, employers need innovative ways to increase employee engagement and retention. At the same time, the new workforce, comprised largely of millennials and Gen Z, is looking for greater control, flexibility and transparency in their work lives. They want a say in their benefits, and one of the things they are looking to change is traditional payroll and its associated pay cycles.
This is a demographic that doesn’t understand why they can’t access the money that they’ve already earned. Not having that access is contrary to all of their other instantaneous life experiences.
