News

Employees want flexible payment methods, pay cycles

May 10, 2019

More than three-quarters (78%) of employers globally agree that companies will need to customize payment options to remain competitive in the war for talent, while 62% of employees say off-cycle pay options, such as the ability to choose pay frequency, would make a difference when considering a job offer, according toEvolution of Pay, a new study by the ADP Research Institute.

Among the findings: 

• 79% of employees surveyed would be willing to accept payment from their employer via mobile, digital or prepaid paycard. 
• 93% of workers believe employers will pay them via paycards, digital platforms or mobile wallets 10 years from now.
• 97% of employees prefer not to receive paper paychecks.

"From raises to robust benefits and workplace perks, employers today are using every opportunity to attract and engage talent," Ahu Yildirmaz, co-head of the ADP Research Institute, said in a press release.  "However, our research shows raises and benefits are not the only perks employers should consider if they want to remain competitive. Employees are seeking companies that offer access to alternative pay methods and financial wellness offerings when they assess a job offer."

The study is based on an online survey of 4,000 employees and 2,900 employers at companies with more than 50 employees in 13 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Mexico, Netherlands, Singapore, United Kingdom and United States). Data was weighted by country based on size of workforce and by age and gender based on representation in the individual country's workforce.