Dayforce Wallet allows workers to access their earned wages any time, a workplace benefit for employees who want access to their wages in between pay periods. 
 
“In an economy where people are experiencing record-levels of financial stress, we’ve seen our customers embrace Dayforce Wallet as a financial wellness tool that radically impacts their employees’ lives for the better,” said Deepa Chatterjee, COO, Dayforce Consumer Services, Ceridian. 

“Delivering $1 billion in earned wages shows significant momentum and adoption for Dayforce Wallet, and I’m encouraged that an increasing number of organisations are investing in their people through a differentiated on-demand pay solution.”

Read more: Ciphr acquires DEI specialist Marshalls

A survey of Dayforce Wallet users in the United States reveals on-demand pay is a driver of employee engagement and retention. Nearly two-thirds (63%) reported a positive impact in their perception of their employer due to on-demand pay. 

Among younger users between the ages of 18 to 29, nearly half (45%) said Dayforce Wallet is a reason why they are staying with their current employer.

Four-in-five (81%) of Dayforce Wallet users said early access to their earned wages provides them with a sense of freedom and accessibility.  

Read more: Half of bosses see increase in mental health issues

“On-demand pay provides flexibility for financially stressed employees, which materially affects organisational productivity, recruitment, and retention," said Melody Brue, Principal Analyst at Moor Insights & Strategy. 

"On-demand pay has now been adopted across many industries and pay grades – whether used to make ends meet or provide liquidity faster than a regular pay cycle."