CHICAGO and PHILADELPHIA CREAM, February 28, 2022 /PRNewswire/ — Onbe, a leading enterprise disbursement platform, today released the results of its Great Resignation survey. The company asked more than 650 American workers what they thought of the big quit and how organizations should respond to protect their remaining workforce and attract new talent. 44% of respondents believe hiring freelancers is key to productivity and preventing burnout among remaining staff.
“The gig worker or freelancer is poised to play a major role in helping companies recruit staff and meet their resource demands in today’s economy, and this trend will exert new pressures on employers – how to effectively and cost-effectively compensate a workforce where traditional payroll methods don’t apply,” said Bala Janakiraman, CEO of Onbe. “Our survey underscores the need for organizations to create modern and agile cash out operations that meet their diverse workforce needs. Companies offering payment choice and flexibility will have a significant advantage in hiring and retaining workers and adapting to changes in workforce patterns.
Key survey results highlight Americans’ views on compensation and how it can help attract and retain future employees and freelancers:
- 42% of respondents aged 18-24 and 43% of those over 65 think the choice of payment method is important
- 57% of survey respondents were paid bi-weekly and prefer to keep this frequency or switch to weekly pay
- And 41% of survey respondents, who identify as self-employed, prefer to be paid weekly or bi-weekly, rather than once a month or after a job ends.
The shift to an on-demand workforce is forcing companies to rethink their approach to compensation. Freelancers generally aren’t paid in the same way or at the same frequency as employees, which means companies have to process payments outside of their normal workflow – and the bigger the pool of freelancers, the bigger it is. are one-time payments to be issued. It’s a costly and inefficient model that’s built with mistakes and places an additional burden on HR and finance teams without the right disbursement program in place. Onbe’s Great Resignation survey shows that freelancers prefer to be paid more frequently and organizations that offer greater payment flexibility will have a significant advantage in today’s world.
The Great Resignation survey follows Onbe’s 2022 Future of Payments Survey, which surveyed more than 1,000 US consumers about their payment preferences and likelihood of adopting new payment technologies.
With over 25 years of industry experience and offices in Chicago, philadelphia cream and London, Onbe is a fintech that manages and modernizes customer and workforce disbursements for enterprise customers ranging from the middle market to the Fortune 500. Onbe’s expert team and technology platform offers customers a turnkey solution to offload all of their B2C payment transactions, relieving them of the cost, complexity and risks associated with orchestrating these payments in-house. Backed by leading investors, Onbe delivers on today’s consumer expectations for instant, digital and seamless payments. To learn more, visit www.onbe.com and follow us on LinkedIn.