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Global Work Glossary

Lost in a maze of global employment jargon? Find your way out with our handy collection of work and HR terminology

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# A B C D E F G H I J L M N O P R S T U V W X Y Z

On-demand pay

What does on-demand pay refer to?

On-demand pay, also known as earned wage access, is a flexible payment system that allows employees to access a portion of their salary before the usual payday. Most often there will be a limit on how much they can receive early. However, sometimes they can access the full salary.

The benefits of on-demand pay include increased employee well-being and retention. With the ability to withdraw funds early, people can more easily adapt to unexpected expenses and changing financial needs. This financial flexibility can be a perk that boosts job satisfaction. Moreover, on-demand pay is usually only offered to employees who have been at a company for a certain period of time and this encourages employees to stay in their jobs for longer.

Typically employees will initiate a request to take out funds early through an on-demand payroll platform or mobile application. Then, through integration with a payroll system such as Multiplier, earned wages will be calculated and the amount they withdraw will be deducted. This will then usually be automatically reflected on their upcoming payslip.

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