New recruitment tool to pay workers every day
As the coronavirus pandemic drags on, employers have been struggling to hire workers and major companies are dangling uncommon benefits to attract more applicants. The most recent benefit used is: being paid every day.
Dozens of employers, including fast-food chains like Arby's, Wendy's, Jimmy John's and Taco Bell as well as retailers like Big Lots, Dollar Tree and Kroger are all now offering employees an option to withdraw money from their paychecks moments after finishing their shift by using smartphone apps like Branch or DailyPay. Jeanniey Walden, CMO of DailyPay told CBS, "Usually people aren't taking out $100 to go to the bar at night. They're taking out, for example, $37.10 because they have a light bill that they forgot to pay."
These apps are essentially add- ons to already existing payroll systems like ADP. Employees can download the app onto their phones and can log in using a company-provided email or phone number. The app shows the workers how much money they're earning per hour as the shift progresses throughout the workday and allows them to transfer their wages to a connected bank account. Taxes and pay cuts are removed from the funds before the worker can access the amount.
Source: CBS News
Dozens of employers, including fast-food chains like Arby's, Wendy's, Jimmy John's and Taco Bell as well as retailers like Big Lots, Dollar Tree and Kroger are all now offering employees an option to withdraw money from their paychecks moments after finishing their shift by using smartphone apps like Branch or DailyPay. Jeanniey Walden, CMO of DailyPay told CBS, "Usually people aren't taking out $100 to go to the bar at night. They're taking out, for example, $37.10 because they have a light bill that they forgot to pay."
These apps are essentially add- ons to already existing payroll systems like ADP. Employees can download the app onto their phones and can log in using a company-provided email or phone number. The app shows the workers how much money they're earning per hour as the shift progresses throughout the workday and allows them to transfer their wages to a connected bank account. Taxes and pay cuts are removed from the funds before the worker can access the amount.
Source: CBS News
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