2023 Branch Report: A Balancing Act for Workers & Companies
Download the full report to get insights on the latest hourly worker trends.
Unlock a Happier, More Productive Workforce
2023 Branch Report: A Balancing Act for Workers & Companies
Dive into our latest report examining the financial, work, and lifestyle priorities of today’s hourly workers.
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Introduction
With inflation remaining high and staffing shortages persistent in many service-based industries, findings from this year’s Branch Report echo the labor sentiment that’s been growing over the past few years: one that demands higher wages and more flexibility but is still beholden to ongoing economic volatility.
For instance, our survey of more than 3,000 hourly workers across a variety of industries found that while higher wages remained the number one desire from a workplace, it was quickly followed by stability (56%) and flexible schedules (39%)—proving that workers and companies will have to work together to provide environments where staff can earn a livable wage and achieve greater work-life balance.
This need has proven especially pertinent in service-related fields and has translated to increased burnout among hourly staff; more than half (57%) of respondents said they had experienced burnout in the past year.
With half of respondents having $0 saved for an emergency, it’s clear that working Americans are feeling the pinch of continued inflation and economic stress. Paired with the growing desire for change in the workplace, companies and employees will have to work together to achieve this delicate balancing act.
Key Findings include:
- The driving force behind selecting a workplace for hourly workers remains higher wages (77%) but is quickly followed by a stable job (56%), and flexible schedules (39%). This points to the overall volatility of the current economic climate, with workers needing to rely on a steady stream of income but also craving the flexibility to choose their own hours or shifts.
- More than half (53%) of respondents experience some sort of pay variance; and 90% found accessing their pay before payday helpful.
- Nearly 90% prefer to have their pay more frequently (86%) than the traditional bi-weekly schedule.
- Over 80% have less than $500 saved for an emergency, with 50% having $0 saved—compared to last year’s 48%.
- Only 1 in 5 hourly workers is optimistic about the state of the economy (22%), with 45% having a negative perception of the economy.
Boost retention, reduce turnover: Download the report and empower your hourly workforce.
Download the full report to get insights on the latest hourly worker trends.
Unlock a Happier, More Productive Workforce