Retail
Happy Employees Create Satisfied Customers
Investing in your employees is an investment in customer satisfaction. When retail employees are engaged and stress-free, they provide a more positive and enjoyable shopping experience for customers. Offering on-demand pay helps reduce financial stress, empowering your team to focus on delivering exceptional service and building memorable customer interactions.
Overcoming Challenges
With high resignation rates and an intensely competitive labor market, retailers are finding it essential to attract and retain employees to meet shifting consumer expectations. To support retention and enhance job satisfaction, many retailers are adopting on-demand pay, helping to ease financial stress and build a more committed workforce.
Retail Struggles with a Limited Hiring Pool: Address Staffing Challenges with On-Demand Pay
The retail sector faces a tough hiring environment with a shallow talent pool, making it crucial to find solutions that boost employee satisfaction and reduce turnover. On-demand pay offers a way to support employee engagement and may lead to lower turnover rates and improved hiring success.
In India, quick access to earnings is increasingly valued, with 72% of employees showing interest in flexible pay options. Consequently, 54% of employers are focusing heavily on recruitment and retention efforts, seeing on-demand pay as a tool to enhance job satisfaction and retention. Turnover in high-attrition sectors has also remained high, with EWA providing a viable strategy to
On-Demand Pay Can Enhance Customer Service
Offering on-demand pay, or Earned Wage Access (EWA), helps improve employee satisfaction and engagement, which may reduce turnover rates and support better hiring outcomes. In India, 72% of employees express interest in flexible pay options, recognizing the financial control it provides. Retailers are increasingly focusing on recruitment and retention, with 54% of employers acknowledging that financial wellness benefits, such as EWA, are key to attracting and retaining talent.
With a high turnover rate in India’s retail sector, EWA programs offer a critical strategy for maintaining a steady workforce. Indian companies adopting EWA see reduced employee attrition and enhanced job satisfaction, leading to a stronger and more engaged workforce.
On-Demand Pay Offers Tangible Benefits for Retailers
On-demand pay solutions provide significant benefits to employees' financial well-being by helping them avoid high-interest payday loans and build financial security. Access to earned wages early allows employees to bypass costly borrowing, potentially saving up to 30% of their income that would otherwise go toward interest expenses.
Additionally, with on-demand pay, employees are better positioned to save and access rewards, contributing to increased job satisfaction. This financial flexibility enables them to manage unexpected expenses and promotes a habit of saving, resulting in a more engaged and financially secure workforce that benefits both employees and retailers.
Improved Productivity
On-demand pay options help boost employee retention in retail, with 48% of workers expressing more motivation to stay with their current employer when early wage access is available. This benefit fosters loyalty, helping retail employers reduce turnover and maintain a steady workforce.
Faster Hiring
A November 2022 Harris Poll survey found that 64% of employees would prefer a job with on-demand pay over one without it when looking for new opportunities. This preference gives retailers an advantage in attracting candidates, filling open roles faster, and mitigating staffing shortages during peak seasons.
Happier Customers
Satisfied employees are more productive and offer higher-quality customer service, which leads to increased customer satisfaction and loyalty. In retail, engaged staff contribute to a positive shopping experience, encouraging repeat visits and stronger brand loyalty.
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