DailyPay Named as Premier Sponsor for PACE Annual Convention
National contact center trade association to highlight payroll disruptor built for contact centers
NEW YORK (March 8, 2018) - The 2018 PACE Annual Convention & Expo (ACX’18) is one of the largest conventions in the contact center industry. This year’s theme, “Exceeding the Expectations of the Connected Customer,” highlights those who are molding, shaping, and innovating the world of contact center best practices, education, compliance and technologies. This year, DailyPay has been named the convention’s premier sponsor.
The Professional Association for Customer Engagement (PACE) was founded on contact center operations. However, the organization, the only non-profit trade association dedicated exclusively to the advancement of companies that use contact center customer engagement, recognizes that the technology that fuels these businesses has advanced. This same technology has engendered seismic shifts in the workforce at large, and DailyPay has made it their mission to further financial wellness of call center employees.
Since its founding in 2015, DailyPay has become the go-to financial wellness solution for nationwide contact centers. DailyPay’s simple proposition is that employees who have control over when they get paid can help meet their financial goals and reach financial security. By providing a simple interface where contact center employees can transfer earned but unpaid wages instantly ahead of payday, these employees can avoid late-pay fees, non-sufficient funds (NSF) fees, and high-interest payday loans, all of which, combined, cost the average American $1,311 per year.
“We are always proud to support companies like DailyPay who are making a positive difference in our industry and its process,” said PACE CEO Stuart Discount. “Their commitment to improving retention, engagement and productivity scores is definitely something worth participating in and promoting.”
Call centers are often plagued by high turnover. Industry attrition rates have been measured between 30 and 45% compared to an estimated 15% average across all industries. On average, across industries, entry-level employees who make around $40,000 per year cost 40% of their annual salary ($16,000) to replace.
According to a report by Equifax Workforce Solutions, more than 40% of turnover happens within the first month, and another 10% or more leave before their first anniversary. Offering DailyPay immediately puts new hires at ease because they can access their wages immediately after clocking out on day one. This acts as a massive recruiting incentive for job seekers choosing between a DailyPay partner and another company that only offers biweekly pay.
DailyPay’s contact center partners have been especially diligent in addressing their attrition challenges. Call center work takes a unique adjustment period, so hires who are completely new to the role are at risk for high turnover. Because the leading cause of employee turnover is financial stress, partnering with DailyPay made perfect sense for these companies. DailyPay's mission is to help employees mitigate financial hardships with access to earned wages before scheduled paydays. With DailyPay access, employees can avoid late fees and overdrafts and end mounting cycles of debt.
"We built DailyPay for the contact center industry,” said Jason Lee, Chief Executive Officer of DailyPay. “We have been thrilled with the partnerships we have forged with the preeminent companies in the contact center industry."
DailyPay works with mid-cap and enterprise companies in a host of industries, including contact center, retail, healthcare and services.
For more information, please visit dailypay.com.
DailyPay’s mission is to give employees their first step toward financial security. DailyPay is the pioneer in providing employees real-time access to earned wages across a wide range of industries, including contact centers. With DailyPay, employees can pay bills on time and avoid late fees, helping them reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York.
The Professional Association for Customer Engagement (PACE) is the only non-profit trade association dedicated exclusively to the advancement of companies that engage with customers via the contact center. PACE promotes their members' ability to provide outstanding customer service and sales solutions delivered via omni-channel communication including voice, email, chat, text and social media. From their National Convention and Washington Summit, to their Regional Chapter events, PACE provides the tools and opportunities that allow businesses to become involved and stay engaged with amazing networking opportunities. Simply put, their members do business with other members.
For more information about PACE, visit paceassociation.org.