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Dawnette CookeFeb 22, 2024 12:13:29 PM1 min read

The Rise of Earned Wage Access Expectations in 2024

In 2024, Earned Wage Access (“EWA”) is emerging as a transformative trend in the U.S., reshaping the traditional pay cycles to meet the demands of the new way of working. EWA, also known as on-demand pay, empowers employees by allowing them to access their earned income before the usual payday.

This innovative approach offers substantial benefits for both employees and employers. Employees gain more control over their financial planning, aligning pay dates with their financial commitments. This flexibility can be a game-changer, by creating a more financially prudent alternative to cash advances or payday loans and fostering a sense of financial empowerment and motivation for employees.

For staffing suppliers and payroll services companies, EWA stands out as a powerful tool for recruitment and retention. In today's competitive job market, offering EWA can significantly enhance an organization's appeal to prospective employees, independent consultants, and freelancers.

EWA's implementation is also seen as a strategy to boost employee satisfaction, alleviate financial stress, and streamline payroll processes without necessitating additional payroll cycles or paperwork, something that has benefitted companies like TalentBurst and even, TalentProcure.

"TalentBurst took the initiative to implement Earned Wage Access in 2022, recognizing its potential to support the financial wellness of our employees and contractors post-Covid and beyond. This move is in line with the evolving expectations of the modern workforce. Integrating EWA into our payroll system was a strategic decision that aligns with TalentProcure's broader business objectives and values, demonstrating our commitment to adapting in a dynamic economic and workforce landscape,” explained Deep Deshpande, Chief Financial Officer of TalentBurst.

However, it's important to note that the regulatory landscape for EWA is in flux, with different states adopting varied regulatory approaches. For example, while Nevada has enacted consumer protections that foster the growth of EWA, California's proposed regulations could redefine EWA products as loans, potentially leading to increased fees and stricter controls.

In summary, EWA signifies a pivotal shift in payroll practices, driven by its capacity to offer financial control. Evolving regulatory measures will undoubtedly influence its future trajectory.


Dawnette Cooke

I have over 25 years of experience in the contingent workforce industry. As a seasoned executive and trusted advisor, I currently spearhead strategy and development for Enterprise Clients at TalentProcure, a certified Minority Business Enterprise (MBE) that champions a modern Contingent Workforce Management platform. My career is driven by a passion for collaborating with clients and partners to reimagine and implement forward-thinking strategies that align with contemporary workforce needs and propel the evolution of work. My expertise spans delivering value-added solutions across MSP, VMS, IC Compliance, Direct-Sourcing and SOW Management sectors, underpinned by technology, ecosystem partnerships, and a steadfast commitment to service delivery excellence. Recognized as a thought leader, I eagerly share insights and best practices. Collaboration is the essence of my professional ethos, bringing together visionary ideas and practical solutions to drive meaningful change. Beyond the professional realm, I'm also dedicated to giving back, particularly as an advocate for the National Alliance on Mental Illness (NAMI). I’m grateful for the journey thus far and am thrilled about the future possibilities, both professionally and personally. Let’s connect and explore how we can drive the future of work together, creating a more adaptive, inclusive, and innovative world.