These days, companies and their workers are facing significant stressors. Attracting and retaining talent remains a huge challenge for organizations. At the same time, faced with cost-of-living increases and changing economic demands, workers are seeking greater pay flexibility to meet their financial obligations at different times of the month. Companies that partner with an on-demand pay provider are in the best position to offer a benefit that is low-cost for employers yet high-value for workers.

In a recent survey, global payroll provider Cloudpay and Industry Dive spoke to finance and human resources executives as well as employees to find out what they know about earned wage access, also called on-demand pay. The survey explored if companies are interested in offering this benefit to workers, how doing so might help with talent retention and attraction, and which workers would be most interested in using it. In this survey report, we’ll:

• Explore how an earned wage access benefit helps employers attract and retain talent.
• Discuss the types of workers most likely to use this service, how often, and who should pay for it.
• Dispel the common misconceptions about on-demand pay.
• Explain why Cloudpay is the only on-demand pay provider that can easily deploy a standalone on-demand pay benefit anywhere in the world a company operates.