{"id":22468,"date":"2021-10-06T17:56:58","date_gmt":"2021-10-06T21:56:58","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=22468"},"modified":"2021-10-07T12:01:13","modified_gmt":"2021-10-07T16:01:13","slug":"employees-rising-hcm-growth","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/blog\/employees-rising-hcm-growth\/","title":{"rendered":"Employees Rising: Connecting HCM Growth and On-Demand Pay"},"content":{"rendered":"\n

The consumerization of technology is now spilling into the workplace, and this is \u201creally giving employees a tremendous amount of opportunity to take control, but it\u2019s also giving HR a tremendous amount of relief and help,\u201d said Pete Tiliakos, who serves as HR technology and services research director at the international consulting firm NelsonHall<\/a>.<\/p>\n\n\n\n

Speaking during a recent podcast on The Source by DailyPay<\/a>, Tiliakos said \u201cThe war for talent is absolutely real. And the employee experience is really the new business case for HR to transform.\u201d <\/p>\n\n\n\n

In this environment, employers have to view employees as customers to the business. \u201cThey expect an equally great experience that provides them the ability to be successful in their roles and fundamentally achieve their own personal goals,\u201d Tiliakos said. \u201cIt’s absolute inclusion. It’s prioritizing their wellness \u2014\u2006physically, mentally, financially,\u201d he added.<\/p>\n\n\n\n

Raising the Employment Technology Bar<\/strong><\/h2><\/div>\n\n\n\n

In many workplaces, when it comes to using technology for HR- and payroll-related applications, \u201cit was like the Jetsons in your pocket and at home, but at work, you were dealing with a Flintstones-like experience,\u201d Tiliakos said.<\/p>\n\n\n\n

Leveraging high-technology cloud-based solutions is one way U.S. employers are moving to provide the right applications for employees to use at work to get that broader positive employment experience.  <\/p>\n\n\n\n

The U.S. leads in cloud-based HR adoption, and there also is another impactful area where the U.S. leads, according to Tiliakos: On-demand pay, also known as earned wage access, or daily pay.<\/p>\n\n\n\n

A \u201cgreat example is DailyPay\u2019s product,\u201d Tiliakos said. The technology is \u201ca digital solution that does more than support employee wellness.\u201d <\/p>\n\n\n\n

On-demand pay is \u201ccertainly helping support that improved financial wellness for employees,\u201d he added. <\/p>\n\n\n\n

\u201cIt\u2019s very simple to deploy. And it really gives the employee the control and the empowerment that we’re talking about,\u201d Tiliakos said<\/p>\n\n\n\n

Implementing on-demand pay, according to Tiliakos, is \u201ca more rapid way of getting employees paid timely and accurately and just gives them more control over what they’re doing. I really do think digital things like this will break down the traditional ways of thinking and doing things in payroll and HR, and will shift us toward an opportunity to come up with new ways of thinking and doing things. I think it’s very, very exciting.\u201d<\/p>\n\n\n\n

However, with more advanced ways of doing things, comes new challenges, like ensuring data security and privacy standards are upheld. <\/p>\n\n\n\n

\u201cI think it’s important when firms are out there buying these solutions and engaging service providers, that they are looking at the compliance and security levels that their vendors are providing them to make sure that they are checking the box on those \u2018must have\u2019 table stakes controls and capabilities inhouse to make sure that data is secure,\u201d Tiliakos said.<\/p>\n\n\n\n

More Advanced Integrations<\/strong><\/h2><\/div>\n\n\n\n

In order for businesses to remain competitive, \u201cor even just relevant, if you will, they’ve got to provide a modern technology-driven client experience,\u201d he said.<\/p>\n\n\n\n

According to TIliakos, HCM providers \u201care building their platforms in a way that they can be highly extensible and connected to other things, creating an ecosystem to help a buyer organize and create that environment that is ideal for them.\u201d<\/p>\n\n\n\n

\u201cFor example, DailyPay,  your on-demand pay solution for early wage access, is a great example of an integrated solution that helps to address a very unique wellness challenge for the adopting firms. I think tapping into those solutions comes by way of those advanced integrations. And that is really the pipeline or the artery, if you will, for the data movement and the flow that gives that deep seamless integration and feels to the employee as if they are operating inside of one solution,\u201d Tiliakos said.<\/p>\n\n\n\n

Tiliakos noted that employers can find these solutions in the marketplace. \u201cThrough integration, you can connect that, solve that issue and have a very good experience, a very reliable experience.\u201d<\/p>\n\n\n\n

You can access the video of the full podcast here<\/a> and subscribe to other Source by DailyPay episodes here<\/a>. <\/p>\n\n\n\n

DailyPay is building technology and the mindset to reimagine the way money moves, from the moment work starts. DailyPay\u2019s pay experience goes beyond compliance and flexibility. Through the DailyPay BalanceTM<\/sup>, the technology seamlessly integrates with a variety of pay systems to continuously and accurately track earnings, makes them accessible and accounts for the amounts, so the payroll team doesn\u2019t have to take any action. <\/p>\n\n\n\n

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For additional resources on this topic, see:<\/h3><\/div>\n\n\n\n