Today marks a major milestone for the daily pay benefits category and the payroll services industry at large.
ADP, the largest human resources management software and payroll company, today announced that DailyPay is joining the ADP Marketplace. This announcement further expands their product offering and franchise.
DailyPay will be available to all ADP Marketplace customers who will now have the ability to offer DailyPay to their employees. The combined fully comprehensive and integrated solution marks a moment in time that is providing a compelling alternative to the traditional (bi)weekly pay cycle.
ADP's heritage is unprecedented. Founded in 1949, ADP now pays 1 in 6 Americans and built an inimitable franchise grounded in innovation for the goal of making life simpler and easier for the leading companies it serves.
With DailyPay, ADP now provides the ability for employees of ADP customers to receive instant access to earned pay. This access radically changes the lives of employees, which in turn benefits employers.
The United States is in one of the most peculiar contango's in the last 50 years. With employment at an all-time low and wage inflation still flat, employers are struggling to hire and manage their workforce. Payroll companies such as ADP now offer a compelling solution to this problem.
By offering DailyPay via this ADP Marketplace integration, best in class companies can now offer a highly differentiated benefit to prospective new hires and existing employees. Employers who offer DailyPay have reported a reduction of 41% in turnover for DailyPay users, as well as an ability to fill open positions 52% quicker. 86% of employees say DailyPay helps them pay bills on time. 71% of employees even say their opinion of their employer has improved post DailyPay.
Payroll is changing, and changing fast
We are thrilled that ADP—and other leading payroll companies—now offer DailyPay to enable instant access to earned wages.
Stay tuned - we'll have a lot more news to share in the coming months.