Ceridian to Transform How Employees are Paid with On-Demand Pay
MINNEAPOLIS--(BUSINESS WIRE)--Oct 16, 2018--Ceridian, a global human capital management (HCM) technology company, today announced plans to add on-demand pay functionality to Dayforce, its flagship cloud platform. With On-Demand Pay, employees will be able to request a payout based on their earnings at any time through the Dayforce mobile application. The requested payout will then be funded to a digital wallet for employees to access. Ceridian will be the first HCM technology company to bring to market an on-demand payment solution of this kind.
Today’s employees are under an incredible amount of stress, with an estimated 78 percent of U.S. workers living paycheck to paycheck to make ends meet 1. Dayforce On-Demand Pay enables companies to offer a payment option that may help promote financial wellness, attract top talent, and increase engagement and productivity at work.
“We’re driven to create new, innovative technologies that will help make work life better for people everywhere – and we believe Dayforce On-Demand Pay achieves this,” said Erik Zimmer, Chief Strategy Officer, Ceridian. “Companies today are mindful of their employees’ financial and mental well-being and seek solutions that will enable their people to be productive and satisfied at work. Dayforce On-Demand Pay may help alleviate stress so employees can focus on their work and not their finances.”
When unexpected expenses arise, employees may rely on payday loans – used by 12 million Americans 2 annually – to cover costs. With Dayforce On-Demand Pay, employees can instead take a payout based on their earned wages when they need it with just a few taps in the Dayforce app. The new functionality may also enable employers to better attract and retain top talent in a competitive job market.
“The fact is, traditional payroll doesn’t meet the real-time payment needs of a modern workforce,” said Zimmer. “That’s why we’re implementing On-Demand Pay in Dayforce: to give employers more choice about how and when to pay their employees.”
Customers who choose to implement On-Demand Pay will benefit from Dayforce’s unified solution for payroll and time. Through real-time calculations, available payouts are automatically updated whenever a time, benefits, or HR record is changed, keeping data up-to-date and accurate, and streamlining the payroll process.
Dayforce On-Demand Pay will be available in early 2019. To learn more, visit www.ceridian.com.
Ceridian. Makes Work Life Better™.
Ceridian is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.
1 CareerBuilder (2017), Living Paycheck to Paycheck is a Way of Life for Majority of U.S. Workers, According to New CareerBuilder Survey, http://press.careerbuilder.com/2017-08-24-Living-Paycheck-to-Paycheck-is-a-Way-of-Life-for-Majority-of-U-S-Workers-According-to-New-CareerBuilder-Survey
2 Pew Charitable Trusts (2018). Standards Needed for Safe Small Installment Loans From Banks, Credit Unions. https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2018/02/standards-needed-for-safe-small-installment-loans-from-banks-credit-unions
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Teri Murphy, 647-883-8041
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING HUMAN RESOURCES
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PUB: 10/16/2018 07:00 PM/DISC: 10/16/2018 07:00 PM