A New Survey Suggests That Corporate America Is In Dire Need Of A Refresh, With Over Half Of Americans Agreeing That The Nine-To-Five Work Week Is Antiquated

Corporate America is ripe for an update, according to a recent survey which revealed that over 70% of employees feel that current work environments are stuck in the past.

Commissioned by The Financial Technology Association and conducted by OnePoll, this survey involved 2,000 working Americans and highlighted a consensus that change is desperately needed– particularly in conventional work elements such as work hours at 54% and payment methods at 41%.

The standard Monday to Friday, 9 to 5 work schedule, a staple for almost a century, doesn’t meet the expectations of 57% of those surveyed.

Furthermore, 67% consider the typical once or twice-a-month pay cycle to be outdated. In fact, 51% of respondents believe a strict, inflexible work structure is considered a relic, emphasizing that the lack of workplace flexibility is increasingly untenable.

When presented with the option of choosing between getting paid more frequently or having a more flexible work schedule, a majority of working Americans lean towards the former option, with 50% preferring more frequent payments compared to 44% who favor schedule flexibility.

At present, payment frequencies among respondents vary, with 51% being paid bi-weekly, 23% weekly, 14% monthly, and a mere 7% receiving their wages daily or immediately after completing their work.

The survey also found that 62% of those surveyed believe their current pay cycle is out of sync with their financial needs, with 61% pointing to living paycheck to paycheck and 52% indicating they run out of money too swiftly as reasons for this mismatch.

Plus, an alarming 56% of employees “always” or “often” face the challenge of stretching their income to make it last until the next pay period, with the average worker running out of money a mere 12 days after payday.

About 64% of survey respondents claimed that, in a perfect world, they would prefer to be paid weekly. Meanwhile, 19% would opt to be paid on a daily basis to more closely align with their financial requirements.

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