Let’s face it – today’s model of pay isn’t working for a large portion of the workforce. Some people struggle with financial stress and have difficulty paying bills on time, particularly the younger generation of workers, as well as freelancers who aren’t consistently employed by a single company. Many employers have found that paycards and digital accounts allow them to take more active interests in the financial wellbeing of their workers to help them meet these challenges and get the most out of their pay.
These options have been a game-changer for many. According to a recent report commissioned by ADP®, almost half of Gen Z (47 percent) and nearly a third of Millennials (31 percent) would turn down a job if they were unable to choose their method of pay. This is why we are introducing Wisely Pay by ADP, the next step in ADP’s constant evolution to put clients and their workers at the forefront of macro trends shaping the employment landscape. Wisely Pay is the first offering coming out of our strategic acquisition of Global Cash Card.
With Wisely Pay by ADP, employers of any size, industry and workforce blend of full-time, part-time and/or freelance workers can seamlessly offer employees the tools to take control of their pay. Cardholders will experience advanced technologies through ADP’s in-house digital payments platform, and will have the flexibility to receive, spend and manage money digitally.
The future for pay is all about personalization. People need to be paid on a schedule that best suits their needs, rather than on a set timeframe for every employee. Our new solution brings employers one step closer to navigating this shift, while still ensuring they can remain compliant and supported with ADP’s leading expertise.
Wisely Pay will be available to employers who select to offer sponsored accounts for employees in September 2018 in the U.S. To learn more, click here.