An executive of Automatic Data Processing recently said the economy is moving toward real-time, on-demand payment of workers. Stuart Sackman, corporate VP of global product & technology, noted during ADP’s recent Investors’ Day webcast the trend among ride-share companies and some major retailers.
Uber and Lyft have enabled drivers to be paid after each ride has been covered forward while Walmart and McDonalds allowing workers to be partially paid at the end of each shift, he said.
“We strongly believe that in the future, workers will get paid real time, on demand, when they want to receive their earnings and employers are going to be forced to offer this capability if they want to attract and retain the best workforce,” he said.
Sackman noted that will be a big change for the typical nonthly, semimonthly, biweekly for traditional employees or net 60 or net 90 for freelance workers.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
