But the solution is not just for Christmas
Hospitality employers should look to Earned Wage Access (EWA) – or Pay-on-Demand – to ensure they can not only attract enough seasonal workers to manage the looming Christmas party season, but also adopt it long term to truly reap the rewards. That’s according to the expert in pay and payroll solutions, CloudPay.
The leading global payroll provider has warned that if hospitality firms want to be able to pay their workers ahead of the holidays – a crucial element to attracting seasonal staff – then they should consider adopting EWA payment models.
CloudPay has also highlighted that this more modern approach to paying hospitality workers has benefits in the long run, citing its work with Nando’s Singapore, which faced challenges recruiting in a skills-short market. The organisation adopted the Pay-on-Demand model which helped significantly improve its talent attraction by giving staff access to their earned pay whenever they needed it. The firm has advised more hospitality groups to follow suit to improve hiring successes.
Borja Perez, VP Product, Payments at CloudPay, commented:
“Adopting Pay-on-Demand is particularly useful for recruiting seasonal workers who generally take on these roles to cover the added costs that Christmas creates. However, in many cases they are often not paid before the break due to the time it takes to be added to the payroll. This will only hinder recruitment at a time when many employers are rushing to fill gaps as the Christmas party season approaches.
“It is important to add, though, that EWA isn’t just a valuable tool to manage seasonal hiring fluctuations, but rather a longer-term solution to worker shortages. It enables employees to access their earnings as and when they need them whilst also making it considerably easier for employers to recruit the skills they need as the case of Nando’s highlights.”
Featured Photo by Dan Burton on Unsplash.