{"id":510113,"date":"2021-07-07T07:03:33","date_gmt":"2021-07-07T11:03:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ceridian-launches-dayforce-wallet-in-canada-to-reinvent-payday\/"},"modified":"2021-07-07T07:03:33","modified_gmt":"2021-07-07T11:03:33","slug":"ceridian-launches-dayforce-wallet-in-canada-to-reinvent-payday","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ceridian-launches-dayforce-wallet-in-canada-to-reinvent-payday\/","title":{"rendered":"Ceridian Launches Dayforce Wallet in Canada to Reinvent Payday"},"content":{"rendered":"

\nOne-third of employed Canadians across income levels \u2013 including those earning over $100K \u2013 run out of money between pay periods
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TORONTO and MINNEAPOLIS, July 07, 2021 (GLOBE NEWSWIRE) — Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, today announced the availability of Dayforce Wallet, an industry-first, on-demand pay solution, in Canada. This new solution disrupts\u00a0the concept of the traditional payday as it gives employees easy, on-demand access to their pay for everyday expenses or emergency funds \u2013 all without direct fees for either employer or employee.<\/p>\n

The launch comes on the heels of a new national study, conducted by Maru\/Blue on behalf of Ceridian*, that underscores the importance of empowering employees to receive early access to their earned wages. More than one-in-three employed Canadians (34 percent) revealed they run out of money between pay periods, with 42 percent agreeing employees should have the option to receive the wages they\u2019ve earned at the end of each workday\/shift. The desire to receive wages on-demand is highest amongst those aged 18-34 at 56 percent.<\/p>\n

\u201cFor far too long, we\u2019ve been paying employees in arrears, using outdated payroll technology that hasn\u2019t evolved with the modern workforce. This long-standing precedent places employees on their back foot financially, and in today\u2019s climate, leads many Canadians to rely on high-interest lending options between pay periods,\u201d said Seth Ross, GM, Wallet and Consumer Services at Ceridian. \u201cWith Dayforce Wallet, employers are transforming payroll for the better by offering a new employee pay experience that supports financial wellness and pays their people at the pace of real life. We are turning employee payroll into a strategic advantage for our clients.\u201d<\/p>\n

In today\u2019s competitive labour market, Dayforce Wallet provides meaningful value to talent acquisition and engagement efforts. A recent review of customers who use Dayforce Wallet shows they\u2019ve experienced 42 percent lower voluntary turnover among those employees using the solution1<\/sup>. The same study shows Dayforce Wallet customers experienced a five percent higher close rate on open positions and a nine percent faster time to close for open roles.<\/p>\n

These results echo the sentiment found amongst employed Canadians in the Maru\/Blue study where 43 percent of respondents said they would be either extremely or somewhat likely to consider an employer that provides access to earned wages on-demand over an employer that does not.<\/p>\n

Dayforce Wallet is now available to Dayforce customers in Canada. Its availability follows a successful launch in the United States where more than 500 employers, including Danone, Buehler\u2019s Fresh Foods, and Aaron\u2019s, have signed up to offer Dayforce Wallet to their employees.<\/p>\n

\n About Dayforce Wallet<\/strong>\n <\/p>\n