Technology will play a large role in payroll processes in the future, giving workers options on how and when they would like to be compensated, according to a report from human capital management solutions provider ADP. The report found that 29% of prospective employees would choose a company that offers early access to paychecks, while 36% would prefer companies that allow them to decide on their own pay schedules.
According to Doug Politi, president of compliance solutions at ADP, current employee expectations on technology and access to money are very different from five years ago, given the availability of flexible, open, and mobile-based technology. He added that employees now expect pay flexibility. To meet this particular expectation, some companies offer payroll advances, but only 15% of firms offer this service, said the Society for Human Resource Management. DailyPay was cited as an app offering early access to salaries, and has teamed up with ADP and more than 100 other firms to meet the salary needs of employees.