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Instant pay mobile apps useful in recruitment, retention

Mobile apps that allow employees to access their earnings every day instead of having to wait for payday are turning out to be helpful in reducing turnover rates.

By Marlene Y. Satter | Updated on January 08, 2018
For those using payday apps, most workers take only an average of $27 per early access to their money and use the service an average of two to three times per pay period. (Photo: Shutterstock)

It may seem odd, but mobile apps that allow employees to access their earnings every day instead of having to wait for payday are turning out to be helpful in reducing turnover.

The Society for Human Resource Management reports that the apps, which allow workers to access half the pay they earn in a day as a way to cover unexpected expenses and avoid pricey payday loans, are useful to companies in attracting and keeping employees in high-turnover jobs.

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