The Majority of Gen-Z and Millennial Hourly Workers Say On-Demand Pay Would Help Them Pay Bills On Time and Avoid Late Fees
New Harris Poll/DailyPay Survey Reveals That Younger Hourly Employees Would Prefer the Option to Have Access to Their Pay After Every Shift
For Gen Z (18-27) and Millennial (28-43) hourly workers waiting for a scheduled payday may seem antiquated or basic.
According to a new Harris Poll/DailyPay survey, on-demand pay can be quite useful in paying bills and avoiding late fees for hourly workers, especially those in the younger subset of the workforce.
The data reveals that 81% of Gen Z and 74% of Millennial hourly workers say on-demand pay helps/would help them pay bills on time. Among the overall hourly worker population, a robust 67% feel this way.
In addition, the survey showed as well that 74% of Gen Z and 70% of Millennial hourly workers say on-demand pay would help them avoid paying late fees. Among the overall hourly worker population, 64% feel this way.
Furthermore, about 7 in 10 Gen Z (69%) and Millennial (70%) hourly workers agree that they would prefer the option to have access to their pay after every shift instead of waiting until the end of a traditional pay period. Among all hourly workers, 59% agree. Gen Z and Millennials comprise about 43% of the American workforce.
Overall, all generations see the positive value of on-demand pay (or earned wage access). Over 8 in 10 (84%) of all hourly workers whose employer offers on-demand pay say it is one of their favorite benefits offered.
On-demand pay is a financial wellness benefit companies offer to provide employees with access to the wages they have already earned. The on-demand pay provider typically integrates into an employer’s payroll and timekeeping systems to ensure accuracy, transparency, and security.
“From food deliveries to car rides to their pay, the younger generations expect everything at their fingertips in an on-demand world,” said Gino Palozzi, Chief Marketing Officer, DailyPay. “The new data aligns with our mission at DailyPay. Utilizing our work tech platform that features on-demand pay, hourly workers can better manage their finances and pay bills on time, while avoiding unnecessary late fees.”
