A quarter (26%) of temps who work through Indeed Flex have chosen to use a new Instant Pay option to receive their wages as soon as they clock off.
Traditionally Indeed Flex workers, known as Flexers, have been paid at the end of each week. In June the online staffing platform introduced Instant Pay to give them total flexibility over when they receive their wages.
Instant Pay allows them to request up to 50 percent of their earnings as soon as they finish a shift – with their pay landing in their bank account within hours.
A survey of Flexers reveals that 13 percent prefer to receive their wages on demand, while 44 percent and 34 percent opt for weekly and monthly payments, respectively. However, well over two-thirds (72%) say they like having the freedom to choose to be paid whenever they need or want their money.
While using Instant Pay is a personal choice for each Flexer, the option gives them instant access to extra cash they can use to deal with any expensive surprises or just top up their savings.
Instant Pay is powered by FlexEarn, a third-party app, which enables Flexers to select the amount they want to receive from the wages they earned during their latest shift as well as on previous days that week.
Novo Constare, CEO and Co-founder of Indeed Flex, said:
“Working for Indeed Flex is all about choice. As a Flexer you don’t just get to choose when and where you work, you can also control when you get paid.
“Some Flexers may never need or want to use Instant Pay, but a clear majority value having the option and a quarter have already taken advantage of the service.
“Having access to your earnings whenever you want them is a handy perk. Whether you’re facing an unexpected bill or you just want to treat yourself, Instant Pay can make it easier to budget and provides peace of mind for many people as the cost of living crisis continues to bite.”
Aaron Birks, 29, who signed up to Indeed Flex in 2016 and works regular hospitality shifts, added:
“I work for an edu-tech company and do extra shifts through Indeed Flex to boost my disposable income. I have used Instant Pay several times, and find that being able to access my wages straight after a shift is really useful.
“I used money I earned through Indeed Flex to pay for a holiday to Spain. Instant Pay was really useful for this, because I needed to pay a deposit to secure a great offer I’d found.
“So as soon as I finished my shift, I used Instant Pay to access half my salary and used that money to pay the deposit for my trip. I find this so much better than using a credit card or getting a payday loan, because it is my money I’m spending and there is no interest to worry about.”
Amelia Brand is the Editor for HRreview. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at the University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.