Access launches on-demand candidate payment solution for recruitment agencies reducing financial pressure for candidates
Today, we have launched Access EarlyPay for recruitment agencies. With competition incredibly fierce in the temporary staffing industry, recruitment businesses are looking for ways to differentiate themselves and ensure they are the agency of choice for both candidates and clients.
As recruitment businesses attempt to make it easier to attract and retain the best temporary candidates a mobile, on demand pay solution can transform the way they receive their wages, giving them the ability to access the pay they have already earned at any time to suit them. Withdrawals are funded by Access, so there is no impact on normal business cashflow or payroll processes.
90% of EarlyPay users say it’s the most important employee benefit available to them. Access has seen that recruitment agencies who offer on-demand pay options attract double the number of applicants for roles and fill 22% more shifts by candidates.
Access EarlyPay for recruitment also provides the ability for agencies to create an additional revenue stream by adding a nominal admin fee to all withdrawals. To help candidates manage their own finances more effectively, limits can be set on drawdowns if desired and the app provides education by linking to money management advice services.
Paul Vogel, Managing Director of Access Recruitment says: “Recruitment businesses have typically faced challenges in attracting and retaining the best candidates and ensuring hard to fill roles are properly resourced. With Access EarlyPay candidates know they can get paid when they need it and if they work additional hours, they’ll be able to take their earnings straight away.”
The need to provide more flexibility in working arrangements continues to grow in an increasingly complicated hiring landscape and the shrewdest recruitment businesses recognise that providing more benefits to candidates will improve retention. Access EarlyPay has been developed to empower candidates to take more ownership, but for recruitment businesses it can drive motivation and loyalty to help recruitment and retention of the best candidates available.
We are presenting the EarlyPay app at a free virtual event on Wednesday 30th September 2020
