Getting paid early
Paying to be paid Could the best way to keep your employees be to pay them early? That's the promise of on-demand pay, ie, earned wage access (EWA) services that pay employees for the time that they work ahead of the regular pay period. It's increasingly being offered by fintech companies such as ADP , DailyPay , Payactiv and Wagestream , with plenty of emerging startups being funded to bring new business models to the market. Perhaps unsurprisingly, given the cost of living crisis, it's catching on. While fintechs have primarily focused on major companies – Amazon, Walmart and Uber offer the service – experts say it's likely that small businesses will be the next wave to give the trend a try. But there's no such thing as free money – and, in a still-regulating industry, companies need to do their research before jumping on board. Saying yay to early pay So far, it appears to be a benefit that employees use: The Clearing House , a ...