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How Flexible Pay Will Enhance The Workforce in 2024

How Flexible Pay Will Enhance The Workforce in 2024

FromThe Payroll Podcast


How Flexible Pay Will Enhance The Workforce in 2024

FromThe Payroll Podcast

ratings:
Length:
70 minutes
Released:
Mar 21, 2024
Format:
Podcast episode

Description

This episode is from a live webinar recording of The HR and Payroll Foundation series. In our third of five HR & Payroll Foundations webinars, we addressed crucial topics that HR & Payroll leaders should consider as their workforce face the cost-of-living crisis and may be struggling to make ends meet. How can a more flexible payment offering make a difference?The reality is that the cost-of-living crisis is not likely to ease anytime soon. For millions of people, this means the value of their earnings is eroded; even if they receive a pay rise it’s likely to be well below their needs, meaning a cut in real earnings.For employers, this poses several challenges, not least the potential damage that arises from having a stressed and underperforming workforce. But it also adds to the risk of staff moving on – something that is already being seen in the post-Covid ‘Great Resignation’ – with people more likely to seek a better-paid job.According to a study by flexible payment provider Wagestream, nearly seven out of 10 employees (68%) are concerned about their finances and hiding this from employers, and as many as one-in-four (24%) worry about money every single day. One way in which HR can help is through strengthening their relationship with their payroll departments and more specifically through considering the use of flexible pay. This enables employees to access money they have already earned when they need it, rather than having to wait until a set pay-day. For those on lower incomes, this can make a real difference, potentially avoiding the use of credit cards or, worse, payday lenders.In this time of uncertainty, our esteemed panel discussed all of these topics, including expert advice and real-life case studies in detail during a perceptive, 1-hour free webinar.Watch now to discover:How organisations with a fresh look on payroll can make a positive impact on recruitmentWhat changes flexible pay can make to your employees’ financial wellbeingWorkplace management systems that can further help employees manage their money and increase savings during a cost-of-living crisisThe key benefits of implementing flexible pay servicesHow to create a winning business case for HR and payroll’s strategic investment plansOur panellists:Nick Day, Founder of JGA Payroll Recruitment – nick@jgarecruitment.comEmily Trant, Head of Impact & Inclusion, WagestreamAnna Laiu, Head of Payroll, PPHE Hotel GroupNick Day, MD at JGA Recruitment.  Nick is a leading authority on HR and payroll issues and hosts two popular podcast shows, The HR L&D Podcast and The Payroll Podcast.Payroll Recruitment:If you require the support of a specialist payroll recruitment agency, please also contact me!  I would love to help show you what a great Payroll recruitment agency experience feels like!  You can reach out to me directly at nick@jgarecruitment.com or give me a call – at 01727 800 377www.jgarecruitment.comThanks for listening – I look forward to bringing you the next episode of the Payroll Podcast real soon!
Released:
Mar 21, 2024
Format:
Podcast episode

Titles in the series (100)

The Payroll Podcast is the first podcast produced exclusively for the UK and global payroll community. Hosted by Nick Day, the podcast features in-depth discussions with payroll experts on complex issues such as international payroll legislation, technology, systems, processes, leadership, and compliance. The aim of the podcast is to support the payroll industry and its professionals to prepare for and embrace the future of payroll, from robotic process automation to blockchain, ai, strategy, wellbeing and compliance. With a focus on developing payroll strategies that raise the profile of payroll worldwide, subscribers will gain valuable insights that enable them stay one step ahead of the curve concerning the latest trends and innovations in payroll. To be a guest on the show or for support with payroll recruitment, reach out to Nick at Tel: 01727 800 377 | Email Nick@jgarecruitment.com