Uber is a pioneer in recruitment and labor management. In a few short years, they’ve been able to recruit 450,000 drivers in the United States alone, most of whom likely never considered driving a taxi for a living. When you take a look at Uber’s highly tactical recruiting strategy, one element stands out — PAY. And specially, Uber’s use of accelerated wages to attract more drivers.
Natasha is a mother of 4 working in Atlanta. With DailyPay, Natasha has been able to meet regular bills and take control of her finances.
Financial wellness programs at the workplace have gained popularity over years. In a recent Bank of America survey, nearly three-quarters of 1,020 plan sponsors surveyed believe that financial wellness solutions will be standard elements of benefits packages in the future. It is also suggested that large companies will lead the way in implementing programs.
If you pay your employees competitively and focus on a healthy work atmosphere, then it’s easy to recruit all the talent you need, right? As it turns out, this is flawed logic. In most cases, it’s difficult to hire quality employees, even when the pay is decent and the atmosphere is warm. In today’s world, it takes more to hire and retain top talent.
The costs associated with payroll can really add up. From payroll materials, like paper checks, to the time dedicated to executing payroll, there are plenty of necessary expenses. But a company only has a handful of options to reduce fees.
Employers can expect their employees to call in sick from time to time. Sometimes the calls are legitimate, but other times they might be more of a stretch to believe. It turns out some excuses are better than others. It also seems that calling into work may be an industry-specific matter. Some companies are more likely to fall victim of employee absenteeism than others.
The unemployment rate in the United States was at 4.5% in March 2017. This is the lowest it has been since Jan 1, 2001, according to historic data documented by the Bureau of Labor Statistics. During the same month, the BLS measured the labor force participation rate at 63.0%. This indicates the majority of Americans participate in the labor force, and job opportunities abound.
It is expected, by most employers, that their workers will miss a certain number of workdays each year. When employees begin to chalk up excessive absences, decreased productivity and morale – as well as an impact on a business’s finances – become apparent.
We’ve written about how the lack of financial security is a catalyst of increased turnover, absenteeism, and overall financial unwellness. It’s easy to read about financial insecurity and not link the struggles to the employees who work at your organization. But, it is more than likely a percentage of your workers are currently struggling to make ends meet.