A survey of 3,000+ hourly workers found flexibility to be the primary driver behind their choice of employment, with 87% sharing that flexibility is essential to job satisfaction
TAMPA, Fla., Dec. 12, 2024 /PRNewswire-PRWeb/ -- Branch, the leading workforce payments platform, has released its sixth annual Branch Report, a comprehensive look at the evolving work and financial concerns of today's hourly workforce. The survey, which polled over 3,400 hourly workers nationwide, found that flexibility, in all its forms—from hours to pay options—has become the most sought-after benefit for hourly workers.
Workers now place greater value on scheduling flexibility than on traditional benefits like paid time off and health insurance, with 46% ranking it as the most important benefit, compared to 44% for paid time off and 34% for health insurance. In fact, 43% of respondents identified flexible hours as the top reason they choose hourly work. Additionally, 29% said they would consider switching jobs for roles that offer work-from-home options, while 57% pointed to work-life balance as a key factor in staying with their current employers. This need for flexibility is particularly pronounced among the one-third of hourly workers juggling other commitments, such as caregiving or pursuing higher education.
The report also underscores a growing demand for flexible payment options. Four in five respondents reported experiencing fluctuations in their weekly pay, while 59% admitted to postponing medical procedures due to financial strain. Alarmingly, only 1 in 5 have $500 or more in emergency savings. In light of these challenges, 88% of hourly workers stated that having early access to earned wages would be a valuable resource.
"Flexibility is no longer a perk—it's a necessity," said Branch Founder and CEO, Atif Siddiqi. "Whether it's controlling when and how they work or accessing their earnings in real-time, today's workers are looking for solutions that allow them to better align their jobs with their lives. Employers who embrace this mindset will be better equipped to attract and retain talent in an increasingly competitive labor market."
With the holiday season approaching, many hourly workers are expecting holiday tips to supplement their pay: 15% of workers report that holiday tips make up 20% or more of their annual income, underscoring the financial pressures they face. Additionally, 66% of hourly workers plan to take on extra seasonal shifts, with 46% directing their holiday earnings toward essential expenses like rent and groceries, and 12% putting tips toward holiday gifts for friends and family.
Looking ahead to 2025, here's the top financial priorities reported by hourly employees:
- Improve credit score: 56%
- Create an emergency fund: 52%
- Pay off credit card debt: 30%
- Purchase a car or pay off a car loan: 30%
- Purchase a home or pay off a mortgage: 22%
- Save for a vacation: 20%
- Pay off personal loans or other types of debt: 20%
- Save for retirement: 16%
- Pay off student debt (for yourself or a family member): 11%
- Start a business: 10%
For more findings or to download a copy of the report, visit: https://www.branchapp.com/branchreport.
About Branch
Branch is the leading workforce payments platform that delivers faster, more flexible options for people to get paid. Whether it's sending earnings to employees or contractors, companies choose Branch because they know that faster payments can help them strengthen worker loyalty, save time and money, and drive business growth. Earners that sign up with Branch can receive a free bank account, instant access to earned wages, rewards, and personal finance tools to help them manage their cash flow between paychecks. Branch partners with the nation's leading companies in healthcare, last-mile delivery, logistics, and restaurants/hospitality. Branch has been honored with a Webby Award—Best Financial Services, FinTech Breakthrough Award, Gartner Eye on Innovation: Financial Services, and Great Place to Work Certification. To learn more about Branch, visit https://www.branchapp.com and follow us on Twitter/X and LinkedIn.
Media Contact
Adrianne Ho, Branch, 6126011122, [email protected], https://www.branchapp.com
SOURCE Branch
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