No longer in the early adoption phase, earned wage access (EWA) has evolved into an established business practice that can help improve employee financial security as well as talent acquisition and retention. But are these the only opportunities to be gained and are there any barriers to giving employees early access to their earned wages?
To find out, ADP initiated a third-party survey of 600 employers and 1,000 employees. Here’s just some of what we discovered:
- A vast majority of employers indicated that offering EWA helps them attract and retain talent.
- Employers prefer an EWA solution that has no impact on current payroll processes, is simple to execute and requires minimal incremental work for their staff.
- Workers in every age group, at every educational level and at every income level expressed interest in EWA.
- A majority of millennials said the availability of EWA would influence their acceptance of a job offer.
For the full results of the EWA market research study, download our insight.
