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Cash on the Barrel Head

The phrase “cash on the barrel head” means immediate payment, or “spot cash.”  Well, employers are now providing Cash on the Barrel Head with…

Anthony LoPinto

The phrase “cash on the barrel head” means immediate payment, or “spot cash.”  Well, employers are now providing Cash on the Barrel Head with payday apps that give employees  instant access to their salary when earned, providing immediate liquidity and bypassing the need for credit cards and short-term, high interest rate loans. The app notifies the employee daily what they earned the previous day, and makes the funds immediately available.

The perk, which I believe is going to become increasingly commonplace, until now has been provided by retail, restaurant and service sector employers such as McDonald’s, Outback, and Bloomin’ Brands. The employers like it because it is cheap and appreciated by employees. The benefits and potential downsides are still being evaluated, according to a Wall Street Journal article this weekend.

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Anthony J. LoPinto

Anthony J. LoPinto

Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.

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