A new study from ADP Research Institute® focused on employee and employer perceptions and attitudes about traditional and emerging pay methods to address some of their biggest human capital management concerns. In a highly competitive environment for recruiting top talent, ADP Research Institute’s study suggests that both employees and employers agree that offering alternative payment methods would provide a competitive edge. Over 60% of employees indicated that off-cycle pay options would make a difference when considering a job offer. Likewise, 73% of employers surveyed indicated they need to customize payment options to compete in the war for talent.
Beyond recruitment, the study touches on emerging trends in employee retention and financial wellness, the impact of the gig economy and 1099 employees, and the evolving attitudes of Millennials and next gen workers.