As financial strain grows for hourly workers, on-demand pay (EWA) is becoming essential for attracting and retaining staff in high-turnover industries like retail and hospitality. A Nucleus survey found that over 50% of hourly workers prefer employers offering EWA, with 40% having used costly payday loans in its absence. EWA reduces absenteeism by 70% and decreases turnover costs, which can range from $3,000 to $5,000 per employee. With many HCM vendors now integrating EWA, it’s poised to become a critical tool for employers aiming to stay competitive in the job market.

Join for free to read