2022 HRO Today EMEA March April - 7

Cover Story
" Traditional payroll and antiquated methods like
monthly paper pay slips fail to meet the real-time
payment needs of a modern workforce, " says Wendy
Muirhead, managing director and regional leader
for EMEA at Ceridian.
Ceridian's latest research on what workers want found
that 31% of workers want their employers to prioritise
enhanced financial wellness. " As companies look to
sharpen their competitive edge in the war for talent,
allowing access to their earned wages will be a key
benefit for both the contingent workforce and full-time
employees, " she says.
Muirhead also believes changes to the way people are
paid need to happen because of the current stresses
felt within the economy. An earned wage access payroll
scheme, where individuals can get clear financial
remuneration more promptly following their work,
is essential for supporting low-income earners
in this kind of climate. Plus, Muirhead says
employers can also benefit from the
shift. " Giving employees more control
over their money not only leads to
a more engaged workforce with
reduced absenteeism and lower
levels of turnover, but it will also
help workers build lasting financial
strength without the need to borrow
money and feed into a neverending
cycle of debt, " she says. " As
employees place increasing value on
opportunities that improve their financial
stability, offering on-demand pay will be vital when it
comes to recruiting and retaining top talent, " she adds.
Sebastien Sepierre, MD EMEA of business services
company Fourth, reports an increasing trend of the
traditional monthly pay cycle migrating to weekly
payments for any additional hours they have worked.
" Every industry will vary, but certainly, in the sectors
we primarily work with, such as retail and hospitality,
modern payment plans and schemes are being welcomed
by both employees and employers alike, " he says. Sepierre
says financial and job insecurity inflicted by the pandemic
has played its part in furthering the need to give
employees more control and choice over how
they access their earned wages.
31%
of workers want
their employers to
prioritise enhanced
financial wellness.
Source: Ceridian
MARCH/APRIL 2022 | www.hrotoday.com/EMEA
[7]

http://www.hrotoday.com/EMEA

2022 HRO Today EMEA March April

Table of Contents for the Digital Edition of 2022 HRO Today EMEA March April

2022 HRO Today EMEA March April - 1
2022 HRO Today EMEA March April - 2
2022 HRO Today EMEA March April - 3
2022 HRO Today EMEA March April - 4
2022 HRO Today EMEA March April - 5
2022 HRO Today EMEA March April - 6
2022 HRO Today EMEA March April - 7
2022 HRO Today EMEA March April - 8
2022 HRO Today EMEA March April - 9
2022 HRO Today EMEA March April - 10
2022 HRO Today EMEA March April - 11
2022 HRO Today EMEA March April - 12
2022 HRO Today EMEA March April - 13
2022 HRO Today EMEA March April - 14
2022 HRO Today EMEA March April - 15
2022 HRO Today EMEA March April - 16
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