Health benefits

Do you offer employees non-health benefits?

Read more: How to Budget for More Employee Benefits Offerings

Heightened employee expectations are particularly evident among Millennials and Gen Z. Nearly 90% of those workers who have struggled to cover expenses between pay periods in the past six months say it has had a negative impact on work. Additionally, 82% of this age group expect a current or future employer to play a role in supporting their financial security and well-being.

The study found that more than half (54%) of all respondents had struggled to cover their expenses between pay periods over the past six months, with recent inflation and high expenses being among the main contributors. In response, many employers are implementing on-demand pay to help alleviate financial stress.

“At Good Eggs, we recognize the importance of supporting the physical and financial well-being of our employees,” says Cynthia Sanchez, human operations manager at Good Eggs, an organic grocery delivery service in California.

“Throughout the pandemic, our goal has been to make sure our employees feel financially secure, and Dayforce Wallet has enabled us to do just that. Through our partnership with Ceridian, we are able to offer pay on demand and advance direct deposit to our employees at no additional cost. More importantly, the responses have been overwhelmingly positive. Since its implementation, Good Eggs has received over $1 million through pay-as-you-go requests, and we continue to see growth in new signups and usage.