Instant pay and pay-on-demand give HR managers a recruiting edge

Offering pay-on-demand gives employers a competitive advantage in the race for talent by providing a capability that supports what many employees want and need. (Photo: Shutterstock)

In 2021, the U.S. economy experienced an unprecedented number of people voluntarily leaving their jobs—in some months at a record-setting pace—a trend that appears likely to continue in the months ahead. To support recruitment and retention efforts in this dynamic environment, HR managers employ several strategies. These may include launching or expanding benefits, offering remote work options, providing signing bonuses and other supplemental compensation, and training employees to take on new responsibilities. The thread that weaves together these and similar approaches comes down to one word: flexibility.

While flexibility usually refers primarily to policies and practices relative to employee work locations, hours, and time off, today it increasingly serves as a more expansive guiding principle in terms of how to recruit and retain employees. Indeed, in this candidate-driven market, employers that demonstrate a willingness and ability to accommodate each person’s unique situation, on multiple levels, put themselves in a solid position to attract and keep the right people.