It's exciting times at Ceridian as they have launched their latest innovation in the UK, Dayforce Wallet - a pay on demand software offering that has taken the payroll world by storm.
Dayforce Wallet offers a unique solution to the traditional payroll process, providing employees with instant access to their earned wages, at no cost, and offering employers a new way to manage their payroll.
Zoe Stephens, HR Director at Blatchford, a multi award-winning manufacturer of some of the world's most advanced prosthetic technology, recently implemented Dayforce Wallet and spoke at the launch event in London last week.
She highlighted the importance of Dayforce Wallet in their strategy to become the “employer of choice” in the prosthetic technology devices space, saying:
“With limited talent pools across the world, to source new employees from, we needed to think outside the box, and Dayforce Wallet was the perfect solution. Adding the pay on demand feature to our benefit offering on our job adverts, has proven to be a huge success and is now the most asked about question in the interview process. Dayforce is helping Blatchford standout from its competitors and fill vacancies with this unique offering.”
Improving employee financial well-being
Also at the event was Ceridian’s general manager for Dayforce Wallet and Consumer Services, Seth Ross, who shared more information on the Dayforce Wallet’s 4.9 app rating and the role it’s playing in improving employees' financial wellbeing.
Ross also shared some insights into the ‘four stages of change’ that most companies considering adopting Dayforce Wallet go through:
- Skepticism
- Altruism
- Acceptance, and finally
- Planning your strategy to introduce the change as it’s the right thing to do.
Dayforce Wallet will continue to develop, incorporating new features such as savings products, content, and budgeting tools.
Of course, Silver Cloud was at the launch event too - making notes on some of the key benefits of Dayforce Wallet, ready to share with our clients!
Key takeaways from the Dayforce Wallet launch
- Dayforce Wallet requires no additional effort or admin, reducing weekly payroll admin to once a month while still allowing employees to access their funds on a weekly basis.
- Employees can withdraw their earned wages in real-time, no more waiting until the end of the month.
- Employers have control over the accounts, with the option to set a percentage limit, for example, only allowing employees to access 30% of their wage before payday.
We’re not just saying this because we are a Ceridian SI Partner, but Dayforce Wallet really is a game-changer in the HR and payroll space, offering employees financial stability and employers a new way to manage payroll.
The future of Dayforce Wallet looks bright (to coin a familiar phrase!), with new features and developments already in the pipeline.If you're an employer looking to offer your employees a unique and innovative solution, Dayforce Wallet is definitely worth considering.
Speak to us about how your employees and your business can benefit from Dayforce – get in touch with us today.
