ge Access ritical Juncture?
Can employees, under certain programs, access their pay ahead of the scheduled payday? Yes. Voluntary programs are being set up by a growing number of employers with third-party vendors to provide at least some already-earned amounts to workers on their demand before payday, if they want it that way. S ome programs operate similar to a mobile money application, whereby there is a choice between a free transfer with a delay of a day or two, or a small fee for the ability to use amounts near real-time. Is this concept of allowing workers to change the payday themselves, so they can draw earned amounts before the employer-scheduled pay cycle is finished, considered a loan? And why does this determination matter?
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ISSUE 11 GLOBAL PAYROLL MAGAZINE
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