The future of salaries: soon also in bitcoin?
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The future of salaries: soon also in bitcoin?

By Michele Porta - 11 Sep 2019

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New research by ADP, the world leader in HCM, has shown that the future of salaries may soon evolve towards new payment methods, including bitcoin (BTC).

The study, called Global Future of Pay, identified a growing demand for new payment options. 4000 employees and 2900 employers worldwide were interviewed.

Bitcoin and the need to diversify

Employers recognise the need to diversify to attract and retain talent, offering various solutions to pay salaries including cryptocurrencies, especially bitcoin.

According to the study, direct credit is now the most widespread form of payment in the world. About 80% of employers in North America, Europe and Latin America pay with direct credit.

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One indication of possible future change is that 42% of employers also offer non-traditional payments. In addition, as many as 44% of employees today would already be willing to accept them.

The role of Asia and Millennials

Asia is the most modern region and open to different forms of payment. In China, in particular, 41% of employers would already offer payments through mobile options.

Chinese employees also seem to be happy to accept, with around 74% of them saying they prefer prepaid cards and mobile and digital options over direct credit.

Research data shows that alternative payment methods are therefore likely to be accepted and demanded by workers in the near future.

According to ADP‘s study, to date, bitcoin salaries seem to be particularly relevant to Millennials.

Moreover, the traditional method of crediting to a bank account may disappear in the near future, as about half of the workers surveyed stated that they would probably not maintain a traditional bank account if it were not necessary to receive salaries from their employer.

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