Make Any Day Payday With Instant Pay
Your company is faced with new challenges to stay competitive in today’s gig economy. Keeping employees satisfied is key to retaining your top workers. Giving them early wage access can help. Now you can offer your workforce the option to access a portion of earned wages before their scheduled payday, quickly, and without disrupting your payroll process with extra paperwork.
Help Employees Take Control of Their Finances
Give your employees the financial flexibility they desire with the option to get paid earlier. Providing them flexible cash flow with access to a portion of their earned wages during the active pay cycle can reduce financial stress and improve employee satisfaction. And they’ll get peace of mind by ensuring their bill payments are always on time.
Payroll Goes On As Usual
Paylocity takes care of the logistics, giving you and your employees a hassle-free, worry-free experience. There’s no change to cash flow since Paylocity sends money to your employee. And funds come from earned wages, so there’s minimal impact on payroll processes. Show employees you put their needs first with earned wage access. You’ll not only increase retention with instant payroll but cater to the needs of the modern workforce as well — a win for all.
Helping You Attract and Retain Gen Z Talent
Captivate and Capture Gen Z Talent
Learn how you can enhance the employee experience with solutions like early wage access to attract and retain the latest generation (expected to make up 27% of the workforce by 2025).
“About 1/3 of our staff are hourly workers and sometimes things come up where they need money quickly. I announced On Demand Payment as COVID-19 cases started increasing and there was a lot of uncertainty. It gave our staff a little peace of mind that they could access some cash quickly.”
“We thought On Demand Payment would create an administrative nightmare, but it absolutely does not! When you process payroll, you will see this as its own code in the Payroll register. More employees have used this feature than we could've ever imagined, especially during these hard times."
Frequently Asked Questions
On demand payment allows employees to obtain a portion of their wages as they acquire them throughout their pay period. As an employer, you can opt into this feature and choose which employees have access to it. Employees can then request advanced wages as needed.
On demand pay offers the opportunity for employees and employers to be flexible with wages in multiple ways:
For employees: On demand wages allow access to a portion of earned money when they need it most, in advance of the next regularly scheduled pay date. This provides more financial security and flexibility for an employee when dealing with unexpected financial situations.
For employers: Payment on demand can provide greater employee retention and satisfaction by helping reduce financial burden as needed. Advanced wages can also be an enticing perk for hiring candidates in a competitive talent market.
It’s easy to offer, too! Paylocity’s On Demand Payment solution takes care of the logistics – Funds come from earned wages as well, so there’s minimal impact on your usual payroll processes.
Read more about the benefits of on demand payment in our resource library.
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