The on demand salary is a recent term in the market, but it has already acquired a number of followers – inside and outside the country. After all, it is a way for the company to provide flexibility and autonomy for employees to do their financial planning, and not to depend on bank loan interest, for example. A good example of this is Xerpay, an innovative feature that Xerpa launched this year for its customers
The on-demand salary is an innovation in the market, which has added many followers (inside and outside the country). All because this model of flexible payment generates autonomy and flexibility with its professionals.
And for you to understand how the on demand salary provides this relief in the very high interest of overdraft , for example. Follow with this reading!
In the topics below, we’ll explain the steps a company should take to insert wages on demand into its routine – and you’ll see how this can be done, basically, without any effort!
What is the on demand salary?
Imagine that, instead of offering payments on fixed and inflexible dates (such as on the fifth business day of the month waiting for a salary advance , for example), your company will be able to position itself to offer employees at any time?
This sums up the essence of the on-demand salary, which grants punctual flexibility so that employees have access to their already booked resources (that is, from the days already worked) to make withdrawals according to their respective financial plans .
As we said, in the introduction to the article, this autonomy given to people allows them to better plan their resources . This includes, for example, the end of this dependency that we tend to create with costly bank loans to close accounts at the end of the month.
And do not think that the on-demand salary is something unprecedented in the market (including in the country itself): transport applications, such as Uber, already deal with this payment model with their drivers.
This is an interesting fit for the rest of the market, and based on the update of an inflexible model that, today, is profoundly out of date.
Why is the on demand wage just a trend?
With the flexibility to align monthly bills with fractions of salary, drawn according to their needs, people avoid the fearful financial stress in their lives.
As an immediate result of this, they maintain the quality of life and well-being necessary to ensure productivity, attendance and motivation within the company .
Therefore, the on demand salary is not just a passing trend: it is a natural movement in the relations we have, today, with society itself.
Which, in turn, calls into question the traditional payment model made by most companies. We are at a time when everything is immediate and dynamic. Speed matters as much as the quality of service we need.
And that includes – why not? – the payment model. If we can add this convenience on a day-to-day basis, the on demand salary comes as a boost to both the employer and the employee.
What are the benefits of this?
To make it clearer the value of this type of strategy applied in your company, see how the salary on demand can make a difference in everyday life, and for both parties:
- promotion of a modern organizational culture , aligned to the needs of its professional;
- better talent attraction and retention;
- more productivity (especially, due to the end of the financial stress of its employees);
- financial well-being can become a motivational tool for everyone;
- more loyalty and gratitude from its professionals.
It is easy to see, therefore, that the wage on demand is not an extra cost for the company, but an investment that has everything to be implemented easily and with a high success rate.
We’ll even talk about it below!
How to implement the on demand salary in the company?
The first step for you to understand how salary on demand can be part of your company’s culture, is its importance.
And this has been said, until now, that goes from the end of the use of overdraft (among other high interest loans) to increased productivity and engagement of its professionals.
Then, it is worth looking for a complete solution that meets your needs and goals. Xerpa, in fact, has made great strides in implementing wage on demand in the country .
But, for this, it is valuable to understand the role of your company in this process, and how Xerpa works in each of the stages, such as:
- HR sector training;
- guidance on the benefits and usability of the on-demand salary;
- implementation of the technology for that.
In this case, we are talking specifically about Xerpay , a solution that can be quickly developed and applied to your organization’s routine.
All because Xerpay is part of the company’s management solutions network . Thus, it is up to your organization to choose the benefit and then offer it to the employee.
Then, as soon as the employee has worked days – and also based on their own financial planning -, they can request through the Xerpa application and, within an hour, the requested amount falls into their bank account.
Thus, it is worth explaining the following:
- the company does not need to tamper with its current payment process for this. Working capital and the entire on-demand wage process is managed and maintained by Xerpa itself;
- each withdrawal request has a low fee for the service. Xerpa’s CEOs themselves say, however, that the price is as low as a cup of coffee (once and for all the need to use the overdraft, for example).
Thus, your organization can take a significant step in becoming one of the great companies of the future, just as Xerpa fulfills yet another step in its relentless mission to reduce the bureaucracy in the HR sector and, with that, improve the level of satisfaction and well -being of your collaborators!