Bitcoin Payroll: The Future of Hiring? Crypto Benefits Plan Could Attract Workers and Improve Employee Retention
The Great Resignation triggered a talent war and a very tight labor market, pushing employers to reconsider perks they offer. Now, a new survey suggests that nearly one in four workers would prefer a company that offers a Bitcoin payroll benefit when deciding between equivalent job offers. In turn, NYDIG recently launched a Bitcoin savings plan allowing employees be paid in crypto.
The NYDIG workforce survey — “Bitcoin Benefits 2022” — found that offering a Bitcoin savings plan may be an important retention tool. Additionally, as Bitcoin is becoming more and more prevalent, Bitcoin holders are saying they want to increase their stockpile by being paid a portion of their salary in Bitcoin as an employee benefit, the survey noted.
Industry Experts Suggest Bitcoin Savings Plan, Payroll Could Attract Talent
Patrick Sells, chief innovation officer for NYDIG, told GOBankingRates that NYDIG launched the Bitcoin savings plan in response to the demand to make Bitcoin more accessible in everyday life. One in five employees surveyed by NYDIG said they would leave their current company for another if they could receive a portion of their paycheck in Bitcoin.
“Companies see the power Bitcoin has in attracting top talent and are partnering with NYDIG to leverage it,” Sells added.
Per the survey, 54% of Bitcoin holders want to be paid a portion of their salary in Bitcoin as an employee benefit — and 42% would leave their current job for an identical role that paid them in Bitcoin.
In terms of age groups, the survey noted that 27% of employees under 30 expressed a likelihood to leave their current job for an equivalent role that let them get paid in Bitcoin, while that figure is 21% of the 30-44 age bracket, 19% of the 45-60 age bracket, and 6% of the 60-plus group.
Ron Levy, CEO and co-founder of The Crypto Company, told GOBankingRates that this survey proves a significant increase in Bitcoin acceptance and adoption.
“There’s an argument to say that the younger generation is more comfortable with digital currency than any other sector. With 87% of those surveyed being at least moderately concerned about inflation, you could argue this younger generation is bullish on Bitcoin to the same degree they are concerned about inflation,” Levy said. “The rush to Bitcoin as a place for them to invest in their future is imminent. I believe that the hockey stick growth from that tipping point is still ahead of us.”
Among the first to offer the benefit are companies owned by former NFL talent Drew Brees, who will also be using a Bitcoin savings plan to convert a portion of his compensation to BTC. Several companies Brees is involved with will also be making the optional benefit available, including Everbowl and StretchZone, according to an NYDIG announcement.
Sells told GOBankingRates that: “We are proud to partner with former NFL superstar Drew Brees who sees the value of Bitcoin and its importance in saving for the future.”
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