Dayforce Wallet by Ceridian
Human Resource Executive®’s Top HR Products contest spotlights the most innovative new solutions on the market that are helping business leaders meet the ever-evolving HR needs of their organizations.
This year, Top HR Products joined forces with Awesome New Technologies. The experts chose 17 winners, several of which will be featured Oct. 28 during a keynote at the virtual HR Technology Conference set for Oct. 27-30.
Click here for more information and to register for HR Tech 2020.
Here’s a look at one of the Top HR Products of 2020:
What it is: Dayforce Wallet is a digital financial management solution that helps employees manage their earnings. Combining a physical card with a digital experience, Dayforce Wallet gives employees access to their earned wages on demand, which are then immediately deposited into their digital wallet account. Unlike other products in the market, Dayforce Wallet leverages the Dayforce platform’s continuous calculation capabilities, which means funds are accurate—not an approximation of earned wages. There are also no direct fees for the employer or employee.
Why we like it: Clean and easy to use, Dayforce Wallet works just like any other app that employees are used to using. Aside from that, its value lies in allowing workers access to their pay on demand before payday. They can make the request through the app and have the money deposited to the Dayforce card, all while standing in a line at the supermarket. The app will track expenses and doesn’t require a traditional bank account. For employers, the value might be even greater: All of this can be done without disrupting cash flow or payroll processes for the organization. No approvals are required, and deductions are handled automatically.
As always, we encourage you to perform your own due diligence before making any investments.