Guides

Re-imagining payday

Life happens in real-time, so why is the payroll stuck in the past?

Today’s fixed pay cycles are based on historical practices and outdated technologies. In the current state, pay cycles don’t always line up with expenses. A recent study by the Canadian Payroll Association reports that 43% of Canadians are financial stressed, making it challenging for workers to have enough cash liquidity to meet expenses. Most Canadian workers don’t have a solution to this cash flow crunch, potentially impacting the business and employee retention.

Rapid changes in the workforce and modern world of work have heightened the need for companies to pay their people in new ways. Today’s modern technology makes it possible to provide flexibility in how people are paid, in line with the pace of real life.

 

Download the white paper to learn more about:

  • Trends driving the need to break away from existing pay cycles
  • The business impact of employee financial insecurity, including lost productivity and increased absenteeism
  • The benefits of introducing a flexible and on-demand pay solution, such as Dayforce Wallet
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