One in two workers say managing their private finances is more complicated in the last 12 months
LONDON, Nov. 9, 2022 (GLOBE NEWSWIRE) — Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital control (HCM) technology, announced the availability of Dayforce Wallet, a revolutionary pay-as-a-service solution, in the United Kingdom.
This trendy solution disrupts the concept of historically inflexible pay cycles because it gives workers simple access to their earned salary when they want it, rather than having to wait until the end of the month. Workers gain additional monetary advantages because their earned wages can be accessible for everything from managing day-to-day expenses or unforeseen expenses to making a faster investment, all at no charge to the employee.
Today’s announcement comes at a time when many UK workers face increased considerations about how to make ends meet. A new national study conducted via The Harris Poll by Ceridian found that more than a fraction of UK workers (53%) say managing their public finances are more complicated in the last 12 months. The challenge is bleaker for others aged 18-34 (61%) who say an unforeseen expense of less than £500 would save them from being able to pay their other monetary obligations. , such as housing, insurance, child care, or utilities.
“Most consistent pay cycles don’t align with the real-time nature of out-of-pocket expenses, putting workers and their families at greater threat of further monetary distress,” said Wendy Muirhead, general manager, EMEA, Ceridian. “The pandemic, the resulting shortage of hard work, and record levels of inflation have put employers in a difficult position when it comes to recruiting and retaining talent. Access their earned salaries at no cost to them. All this translates into greater monetary security for workers. »
This launch follows Dayforce Wallet’s widespread good fortune in North America. By the end of the third quarter of 2022, more than 1340 employers in the U. S. were in the U. S. The U. S. and Canada committed to providing Dayforce Wallet to their workers, making payroll a strategic merit. for workers. In addition, the average enrollment rate was 45% of all eligible workers. Today, corporations that provide Dayforce Wallet fill vacancies 15% faster than corporations that don’t1. In addition, Dayforce Wallet workers have a 90-day turnover rate that is 21% lower than other workers2.
The good fortune observed by employers reflects a willingness on the part of workers to take full control of their financial well-being. The study found that 3 in 4 UK workers (75%) over the ages of 18 to 44 would likely apply for an employer that gives loose early access to their earned wages rather than an employer who does. Don’t.
“Our commitment to each and every worker includes giving them access to their earned wages at the speed that most productively suits their wishes, and we are thrilled to marry Ceridian to meet those expectations,” said Zoe Stephens, Group Chief Human Resources Officer. , Blatchford. ” Dayforce Wallet allows us to meet the varied desires of our employees, increasing their commitment while staying competitive in an ever-changing world of work. “
About the Dayforce wallet
To retain valuable workers and attract new skills with Dayforce Wallet, visit: Ceridian. com/DayforceWallet
Survey methodology: This survey was conducted online in the UK via The Harris Poll on behalf of Ceridian from 7-8 September 2022 among 1145 adults employed in the UK over the age of 18. This online survey is not based on a random pattern or an estimate of how the theoretical sampling error can be calculated.
About CeridianCeridian. Improves the life of paintings. Ceridian HCM Holding Inc. is a global human capital control software company. Dayforce, its flagship Cloud HCM platform, provides features for HR, payroll, benefits and skills control. The Dayforce platform is used to optimize the control of the entire life cycle of the painter. , adding attract, engage, pay, implement and promote people. Ceridian provides answers for organizations of all sizes. Visit Ceridian. com or follow us on @Ceridian.
Media Contact: Fahd Pasha647. 417. 2136Fahd. Pasha@Ceridian. comThis prepaid Mastercard is issued through the Financial Conduct Authority, the Electronic Money Regulations 2011, Business Reference Number 900036, for the issuance of electronic cash and the provision of payment services. Registered office: 4th floor, 35 Great St Helen’s, London, EC3A 6AP. Company registration number: 06337638.
1 Compared to our wider group’s Dayforce wallet usage2: January to June 2021
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