Caleres Selects Ceridian to Deliver On-Demand Pay to its North American Workforce

Rhea-AI Summary

Ceridian (NYSE: CDAY) announced that Caleres (NYSE: CAL) is implementing Dayforce Wallet to provide on-demand pay for over 9,000 employees across the U.S. and Canada.

This rollout aims to enhance employee experience and pay accuracy, leveraging Caleres' existing Dayforce Payroll system. Initial results show over 25% of eligible employees registered, with $3.2M in wages accessed on-demand within six months. The solution is designed to aid in recruitment and retention, addressing the competitive retail landscape.

Positive

• Over 25% of Caleres' eligible employees registered for Dayforce Wallet within six months.
• Total of over $3.2M in earned wages paid out on-demand, enhancing employee financial well-being.
• Implementation is seen as seamless, indicating strong integration with existing payroll systems.

Negative

• None.

Dayforce Wallet to make any day payday for Caleres’ employees with on-demand pay

TORONTO and MINNEAPOLIS, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Ceridian (NYSE: CDAY; TSX: CDAY), a global leader in human capital management (HCM) technology, announced today that Caleres (NYSE: CAL) is rolling out Dayforce Wallet, Ceridian’s market-leading on-demand pay solution, to more than 9,000 full- and part-time employees in the United States and Canada.

Caleres, a global footwear company, is home to a diverse portfolio of admired brands, including Famous Footwear, Allen Edmonds, Vionic, and Sam Edelman. Caleres wanted to deliver an innovative employee pay experience while continuing to maintain pay accuracy and compliance. The Caleres team currently relies on Dayforce Payroll, Ceridian’s award-winning payroll solution, to manage its complex pay. With the addition of Dayforce Wallet, Caleres will elevate its payroll capabilities by offering its workforce on-demand access to earned wages.

“At Caleres, we believe in the power of investing in our employees’ well-being, so we knew Dayforce Wallet would be a great addition to our overall employee experience,” said Doug Koch, CHRO, Caleres. “Dayforce Wallet has given our employees the ability to pay for unexpected expenses without relying solely on credit cards or other forms of debt. As existing Dayforce customers, implementation has been seamless so far, and we’re excited to leverage Dayforce Wallet to make Caleres the best place to work in retail.”

Caleres began a pilot program with Dayforce Wallet in March, followed by a full, company-wide rollout of the program this summer. Within six months of implementation, over 25% of Caleres’ eligible employees have registered for Dayforce Wallet, with a total of over $3.2M of earned wages paid out on-demand.

“Early wage access is no longer just an option – it’s an essential benefit that helps employers stand out against competitors, especially in hyper-competitive industries like retail,” said Seth Ross, General Manager, Dayforce Wallet and Consumer Services, Ceridian. “Employers like Caleres that have implemented Dayforce Wallet have seen great results in their recruitment and retention efforts. We’re thrilled to expand our partnership with Caleres and bring on-demand pay to its workforce.”

Caleres will also be on stage at Ceridian’s annual INSIGHTS conference on Nov. 7-10 at Wynn Las Vegas to discuss the company’s implementation of Dayforce and Dayforce Wallet.

Dayforce Wallet is available in the United States and Canada. As of the end of Q2 2022, Ceridian has over 1,200 customers signed with Dayforce Wallet, with over 650 of them live on Dayforce Wallet. For more information, visit: DayforceWallet.com

About Ceridian

Ceridian. Makes Work Life Better™.

Ceridian HCM Holding Inc. (NYSE: CDAY; TSX: CDAY) is a global human capital management software company. Dayforce, its flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. The Dayforce platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.

Media Contact: 
Hyeri Kim
347-572-9564
Hyeri.Kim@ceridian.com

FAQ

What is Dayforce Wallet and how does it benefit Caleres employees?

Dayforce Wallet is an on-demand pay solution that allows Caleres employees to access their earned wages anytime, promoting financial flexibility.

When did Caleres start using Dayforce Wallet?

Caleres began a pilot program with Dayforce Wallet in March and completed a full rollout in the summer of 2022.

How many employees are using Dayforce Wallet at Caleres?

As of six months post-implementation, over 25% of eligible employees at Caleres have registered for Dayforce Wallet.

What were the financial results after implementing Dayforce Wallet at Caleres?

Caleres employees accessed over $3.2 million in earned wages on-demand within six months of the Dayforce Wallet launch.

What is the significance of Dayforce Wallet in the retail industry?

Dayforce Wallet is considered an essential benefit that enhances employee recruitment and retention, particularly in competitive sectors like retail.