By Carol MacKinlay, Chief Human Resources Officer
The future of payroll is arriving faster than most HR leaders realize. Around the world, employees are asking for more choice, not just in where they work or how they work, but in how they get paid. Increasingly, that means crypto.
Forward-looking companies are already exploring how to adapt. For leaders, the challenge is not only to keep pace with these changing expectations, but to think ahead: how can payroll innovation become a differentiator in attracting and retaining the very best talent in a fiercely competitive market?
And companies that don’t adapt risk losing ground in the war for talent.
The data tells the story
The numbers are compelling. Pantera Capital reports that the percentage of professionals receiving crypto-based salaries tripled from 3% in 2023 to over 9% in 2024. Our own survey revealed that nearly one in five employers now see growing demand from their workforce to be paid in crypto.
It’s no coincidence this is happening as wage inflation, regulatory complexity, and the global race for AI talent reshape the labor market. Employees, especially Millennials and Gen Z, want pay that is fast, flexible, and, in some regions, more stable than local fiat currencies.
Why crypto appeals to employees
At this year’s HR Tech conference, I joined leaders from finance, HR, and crypto innovation on a panel titled “Beyond Borders, Beyond Banks: Rethinking Payroll for the Digital Workforce.” What struck me was not just the range of perspectives, but the alignment: payroll is at the center of a profound shift.
On our panel, executives shared stories of employees in high-inflation economies choosing stablecoins like USDC or USDT to protect their earnings. Others highlighted younger workers who prefer to split their salary, receiving a portion in crypto alongside traditional fiat.
The benefits are clear:
- Speed: Pay that arrives in minutes, not days.
- Cost efficiency: Lower fees for cross-border payments.
- Stability: Protection against local currency volatility.
- Inclusion: Access for workers without traditional bank accounts.
The challenges leaders must navigate
Of course, crypto payroll is not without hurdles. Regulations remain uneven, with many countries still requiring wages to be paid in local fiat. Payroll teams face new reconciliation processes and compliance considerations. And public blockchains raise privacy concerns around salary transparency.
Some governments are loosening restrictions, allowing partial crypto payments beyond a fiat minimum. The companies that figure this out first will have a powerful advantage in attracting and retaining top talent.
Why this matters now
The future of payroll is borderless. Employees will expect the same flexibility in how they are paid as they already do in where and how they work. Leaders who dismiss crypto as a passing trend risk falling behind competitors who embrace it.
At HR Tech, the consensus was clear: this is coming, and HR leaders must be ready. That’s why we’re already innovating to make payroll choice—including crypto—a reality in our platform. It’s not just about keeping up. It’s about leading, and helping our customers win in the global race for talent.
Payroll innovation is no longer optional, it’s a strategic imperative. Those who treat it that way will be better positioned to win in the global race for talent.
Topic:
HR Strategies
