On-Demand Pay for Retail
As automation and other functionalities becomes table stakes, human capital management (HCM) vendors will need to find new ways to differentiate themselves from other players in the market. Similarly, retailers must provide new incentives to attract and retain employees during a time of record low unemployment. Online competition means that retailers must do so without expanding labor costs. With 25 percent of the country unbanked or underbanked, free on-demand pay services can provide a differentiator for both HCM vendors and retail organizations alike. As demand for the feature continues to grow, vendors who effectively push the on-demand services will differentiate themselves in the HCM marketplace. Retailers will also be able to use on-demand pay to differentiate from their competitors, saving in hard labor costs as well as improving bottom lines.