Real-Time Wages: Made for the Staffing Industry
Real-Time Wages: Made for the Staffing Industry
Iuliia Iushkova and Torny Hesle
Iuliia Iushkova and Torny Hesle
Oct 31, 2024
Oct 31, 2024
Running a staffing agency in this country isn’t easy. Particularly in retail and the hospitality industry, there are plenty of challenges: high turnover, unpredictable staffing needs, government regulations, and pressure to keep costs down, to name a few.
Real-time salary, or daily salary (also known as Earned Wage Access - EWA), allow employees to access earned wages immediately after a workday instead of waiting for the regular payday. This smart solution can not only simplify these challenges but also provide your agency with a competitive edge. Let’s dive into some of the most common challenges in the staffing industry.
Running a staffing agency in this country isn’t easy. Particularly in retail and the hospitality industry, there are plenty of challenges: high turnover, unpredictable staffing needs, government regulations, and pressure to keep costs down, to name a few.
Real-time salary, or daily salary (also known as Earned Wage Access - EWA), allow employees to access earned wages immediately after a workday instead of waiting for the regular payday. This smart solution can not only simplify these challenges but also provide your agency with a competitive edge. Let’s dive into some of the most common challenges in the staffing industry.
1. High Turnover
1. High Turnover
Temporary employees rarely stay long in the same job and often leave for better opportunities or other short-term assignments. This leads to high turnover and constant extra work for staffing agencies in their search for new workers.
Real-time salary are an effective way to encourage people to stay—and even better, to work more. When wages are paid out immediately, taking an extra shift suddenly becomes more appealing, especially if it means you can afford to attend that weekend concert after all.
Temporary employees rarely stay long in the same job and often leave for better opportunities or other short-term assignments. This leads to high turnover and constant extra work for staffing agencies in their search for new workers.
Real-time salary are an effective way to encourage people to stay—and even better, to work more. When wages are paid out immediately, taking an extra shift suddenly becomes more appealing, especially if it means you can afford to attend that weekend concert after all.
2. Busy Periods
2. Busy Periods
Demand in the staffing industry fluctuates, and the volume of assignments varies with the seasons. On top of that, large events, unexpected situations, and peak periods can arise, making it challenging to find enough employees at short notice. By offering real-time wages through Celeri, anyone working for you can receive their pay immediately after completing their job. This gives you a clear competitive advantage: if a candidate is considering multiple jobs and agencies, we dare to say that the one paying today is more attractive than the one paying in four weeks.
Demand in the staffing industry fluctuates, and the volume of assignments varies with the seasons. On top of that, large events, unexpected situations, and peak periods can arise, making it challenging to find enough employees at short notice. By offering real-time wages through Celeri, anyone working for you can receive their pay immediately after completing their job. This gives you a clear competitive advantage: if a candidate is considering multiple jobs and agencies, we dare to say that the one paying today is more attractive than the one paying in four weeks.
3. Lack of Engagement
3. Lack of Engagement
Temporary employees hired through staffing agencies often feel less connected to their employer compared to permanent staff. Studies from abroad show that employees who receive real-time wages experience reduced stress and increased control over their finances and lives. Real-time wages simply make life a bit better for workers, so it can be viewed as a health benefit, on par with gym memberships and massages. It’s a way to show you care about the people working for you. And happy people tend to perform better on the job—which is a win for your clients, too.
Temporary employees hired through staffing agencies often feel less connected to their employer compared to permanent staff. Studies from abroad show that employees who receive real-time wages experience reduced stress and increased control over their finances and lives. Real-time wages simply make life a bit better for workers, so it can be viewed as a health benefit, on par with gym memberships and massages. It’s a way to show you care about the people working for you. And happy people tend to perform better on the job—which is a win for your clients, too.
Get Started with Celeri
Get Started with Celeri
Celeri offers real-time wages through a service that integrates with your existing payroll system. We provide solutions for both salaried employees and those working on a more Irregular basis. Learn more about Celeri here.
Celeri offers real-time wages through a service that integrates with your existing payroll system. We provide solutions for both salaried employees and those working on a more Irregular basis. Learn more about Celeri here.
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