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On-demand pay: What’s savings got to do with it?

Early wage access is just the start of on-demand pay’s benefits. When part of a platform that includes automated savings, on-demand pay helps employees build emergency funds for the short-term, then retirement savings for the long‑term.

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savings ebook

Savings is key to successful on‑demand pay benefits

Despite the proliferation of budgeting apps and financial education programs, behavioral psychologists and economists agree: Saving is hard. The good news? We now have proven strategies that work to increase savings. And we know employers are positioned to make an outsized impact with on‑demand pay, like pairing it with automated savings and a boosted interest rate to help employees quickly build emergency funds.

Core insights include:
  • Why savings is the bedrock of long-term financial stability

  • Research-based strategies that work to increase savings

  • Why employers are uniquely positioned to influence savings behaviour

  • Three steps employers can take to help employees build savings

A look inside

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“We did not want a band‑aid solution, so Even’s holistic approach really stood out to us.”

Amy Cohen
Director Total Rewards
Noodles & Company
Even Customer

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Why we wrote this

When employers decide to offer on-demand pay platforms, their goal is often to help workers financial health. On-demand pay will help their workforce immediately but doesn’t offer long-term solutions; that’s where savings comes in.

We wrote this guide to underline the importance of pairing on‑demand pay with powerful tools designed to improve savings. As employers evaluate on-demand pay solutions, it is critical to consider whether earned wage access providers are motivated to create a habit of reliance on early pay, or whether they take a holistic approach focused on improving employees’ financial resilience and savings.

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