Real-Time Wages on the Global Rise
Real-Time Wages on the Global Rise
Iuliia Iushkova and Torny Hesle
Iuliia Iushkova and Torny Hesle
Sep 10, 2024
Sep 10, 2024
From an international perspective, real-time wages (EWA/Early Wage Access) are no longer the new kid on the block. They’ve become the life of the party—a party more and more are eager to join. In a recent interview with Finansavisen, Celeri CEO Kim Kristian Humborstad shared insights into why real-time wages are poised to become the future of payroll worldwide.
When the big players start swimming in a new direction, you know something significant is happening—and that’s exactly the case with daily wage payouts.
"At Walmart alone, 1 million employees receive their wages daily, and there are several providers in both the US and the UK offering solutions similar to Celeri," Kim told Finansavisen.
From an international perspective, real-time wages (EWA/Early Wage Access) are no longer the new kid on the block. They’ve become the life of the party—a party more and more are eager to join. In a recent interview with Finansavisen, Celeri CEO Kim Kristian Humborstad shared insights into why real-time wages are poised to become the future of payroll worldwide.
When the big players start swimming in a new direction, you know something significant is happening—and that’s exactly the case with daily wage payouts.
"At Walmart alone, 1 million employees receive their wages daily, and there are several providers in both the US and the UK offering solutions similar to Celeri," Kim told Finansavisen.
Photo: Jörgen Skjelsbæk / Shifter
Photo: Jörgen Skjelsbæk / Shifter
Like Magic for Employers
Like Magic for Employers
In today’s competitive job market, offering daily payouts isn’t just a nice perk—it’s like waving a magic wand to attract top talent. In many cases, real-time wages rank high on the list of priorities when employees evaluate potential employers.
“For employees, it’s about better financial literacy and control, improved ability to handle unexpected expenses, reduced reliance on credit cards and payday loans, better financial and mental health, less stress, and greater freedom. A U.S. survey found that 79% would switch jobs if their employer offered Earned Wage Access,” Kim shared. (Survey: [PYMNTS/Visa](https://www.pymnts.com/visa/2020/visa-why-real-time-payroll-now-necessity-not-luxury/))
Just think about it—retaining 79% of your workforce simply by offering instant access to wages. At a time when retaining employees is harder than ever, real-time wages are a powerful tool to boost job satisfaction and loyalty.
In today’s competitive job market, offering daily payouts isn’t just a nice perk—it’s like waving a magic wand to attract top talent. In many cases, real-time wages rank high on the list of priorities when employees evaluate potential employers.
“For employees, it’s about better financial literacy and control, improved ability to handle unexpected expenses, reduced reliance on credit cards and payday loans, better financial and mental health, less stress, and greater freedom. A U.S. survey found that 79% would switch jobs if their employer offered Earned Wage Access,” Kim shared. (Survey: [PYMNTS/Visa](https://www.pymnts.com/visa/2020/visa-why-real-time-payroll-now-necessity-not-luxury/))
Just think about it—retaining 79% of your workforce simply by offering instant access to wages. At a time when retaining employees is harder than ever, real-time wages are a powerful tool to boost job satisfaction and loyalty.
A Cure for Financial Stress
A Cure for Financial Stress
Let’s be honest: the financial challenges many employees face are no secret. Many struggle to manage their money between paychecks. Credit cards and loans can offer a temporary fix, but they often lead to long-term debt and financial instability. This is especially true for younger people navigating a complex and often unpredictable financial world. As the saying goes, "How am I supposed to live, laugh, and love in this economy?"
“Sixty-four percent of people under 30 report depleting their bank accounts before the next paycheck. Our goal is to change the way wages are paid,” Kim concluded. (Survey: [Pengeverkstedet](https://pengeverkstedet.no/blogg/boost-sparingen-din-2/))
By giving employees immediate access to the money they’ve earned, fewer people will have to live paycheck to paycheck. In a world where financial insecurity is as common as stress-filled lifestyles, real-time wages might just be the cure.
Would you like to learn more about how EWA can work wonders for your business and employees? Read our in-depth article on the topic.
Let’s be honest: the financial challenges many employees face are no secret. Many struggle to manage their money between paychecks. Credit cards and loans can offer a temporary fix, but they often lead to long-term debt and financial instability. This is especially true for younger people navigating a complex and often unpredictable financial world. As the saying goes, "How am I supposed to live, laugh, and love in this economy?"
“Sixty-four percent of people under 30 report depleting their bank accounts before the next paycheck. Our goal is to change the way wages are paid,” Kim concluded. (Survey: [Pengeverkstedet](https://pengeverkstedet.no/blogg/boost-sparingen-din-2/))
By giving employees immediate access to the money they’ve earned, fewer people will have to live paycheck to paycheck. In a world where financial insecurity is as common as stress-filled lifestyles, real-time wages might just be the cure.
Would you like to learn more about how EWA can work wonders for your business and employees? Read our in-depth article on the topic.
See also:
See also:
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