Ceridian Launches Dayforce Wallet in the United Kingdom to Deliver a Modern Pay Experience

Ceridian a global leader in human capital management (HCM) technology, announced the availability of Dayforce Wallet, a revolutionary on-demand pay solution, in the United Kingdom (UK).

This modern solution disrupts the concept of traditionally rigid pay cycles as it gives employees easy access to their earned pay when they need it – instead of being forced to wait until the end of the month. Workers benefit from extra financial control as their earned wages can be accessed for anything from managing daily expenses or unexpected bills to investing sooner – all without fees for the employee.

R Technology News: Clearlake Capital Completes Acquisition Of Cornerstone OnDemand

Today’s announcement comes at a time when many UK employees are facing heightened concerns about making ends meet. A new national study conducted by The Harris Poll, on behalf of Ceridian, revealed more than half of UK employees (53%) say managing their personal finances has become more difficult over the past 12 months. The issue is bleaker for those between the ages of 18-34 (61%) who say that an unexpected expense of less than £500 would prevent them from being able to pay their other financial obligations, such as housing, insurance, childcare, or utilities.

“Most fixed pay cycles don’t line up with the real-time nature of personal expenditures putting employees and their households at a greater risk for increased financial hardship,” said Wendy Muirhead, Managing Director for EMEA, Ceridian. “The pandemic, a subsequent labour shortage, and record levels of inflation have placed employers in a difficult position when it comes to the recruitment and retention of their talent. By bringing Dayforce Wallet to the UK, we are helping employers support employee financial wellness, while empowering people to have early access to their earned wages at no cost to them. All this translates into better financial security for workers.”

HR Technology News: Microsoft Office Rebrands Itself As Microsoft 365

This launch follows widespread success of Dayforce Wallet in North America. As of the end of Q3 2022, more than 1,340 employers across United States and Canada have signed on to offer Dayforce Wallet to their employees – effectively turning payroll into a strategic employee benefit. Further, the average registration rate was 45% of all eligible employees. Today, companies that offer Dayforce Wallet fill open positions 15% more quickly than companies not offering the solution¹. Also, employees using Dayforce Wallet have a 21% lower 90-day attrition rate compared to other employee.

HR Technology News: HR Technology Highlights – HR Tech Daily Round-Up For 25 October 2022