With ballooning inflation and many Australians now living paycheck to paycheck, an increasing number of forward-thinking companies have started offering workers the ability to get immediate access to their earned wages.
Employees are also behind this push for getting access early to their pay, as part of a global movement, which has already gathered significant traction in the USA and UK.
Steven Furman, CEO of Paytime, a platform that plugs into payroll allowing employees to access a portion of their earned pay before pay day, says business interest has shot up more than 600% in the last three months.
“The workplace salary payment system is outdated. We are seeing around 150+ inquiries a week and growing, from employees that want our solution and access to their earned wages,” said Mr Furman.
“Brands are also increasingly seeing the value in offering this to their staff, both in attracting and retaining staff in a tight labour market.‘
“Employees are demanding more and more benefits from companies in order to stay and Earned Wage Access is a key benefit in avoiding the great resignation,” said Mr Furman.
McGrath Estate Agents, Supabarn, Aspen Pharmacare and several other major Aussie brands are some of the early adopters of Paytime in Australia.
To learn how you could adopt this modern HR solution and make employee wellbeing your employer value proposition, visit Paytime.