Financial benefits for hourly workers: Survey report
Hourly employees make up the majority of the American workforce. But benefits skew toward salaried workers. Forward-thinking companies realize that to be the employer of choice, they need to invest in their hourly workers’ financial benefits.
72% of employers know they need to do more to relieve hourly workers’ financial stress
Financial stress distracts employees from doing their jobs, costing businesses billions in lost productivity each year. Employers agree it’s a problem, and agree sponsoring financial benefits would make the most impact — but they’re unsure which benefits to offer. That delays relief getting to employees. It also means employers miss out on the competitive advantage those benefits would bring, especially to employee satisfaction, recruiting, and retention.
Core insights include:
In the battle to be the employer of choice for hourly workers, how can you stand out?
- Learn what financial benefits employers offer hourly workers today, and what they plan to add next
- Why who pays matters to benefit adoption and employee satisfaction
- How employers are prioritizing benefits such as earned wage access (EWA) to impact business goals
“We were adamant to do better for our employees and in a form we could be proud of.”
Traci Memmott
Global Payroll Lead
PayPal
Even Customer
Why we wrote this
The labor market is undergoing changes businesses couldn’t have anticipated. For forward-thinking employers, this presents an opportunity. While competitors take a wait-and-see approach, early adopters of financial benefits have the chance to tip recruiting, retention, and employee satisfaction in their favor.
This survey report will help those forward-thinking employers maximize their window of opportunity. We partnered with Human Resource Executive (HRE) to understand how businesses are (or aren’t) approaching financial benefits for their hourly workers. With those insights, employers can create benefits strategies to build loyal workforces.
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