Results from a recent Harris Poll show that 72% of responding employees want access to their pay on-demand, while only 6% actually have this access. That 66% gap means the #dailypaybenefit is on a high-growth curve.
daily pay benefit, employee, future of work
neo-payday lenders, compliance, daily pay benefit
With each new survey, employee desire for access to their accrued earnings before payday grows, along with retention rates for employers that implement the #dailypaybenefit. It’s a win-win.
payday loan, neo-payday lenders, compliance, #dailypay
Buggy whips. That’s what I think of as I follow the drama that surrounds payday lending.
Many who want access to their pay before payday are told by providers that they need to allow access to the bank account where their payroll direct deposits are made. It may seem innocuous, and it is a legal and somewhat normal way of doing business nowadays, but there are pitfalls, and such a requirement should[...]
For those who are not in the payroll industry, “constructive receipt” may sound like a term of art used by tax accountants and payroll professionals. In short, constructive receipt on payday triggers liability for employers.