INDEPENDENCE, Ohio – December 19, 2019 – Koinonia, a leading provider of life-changing services to people with intellectual and developmental disabilities (IDD), has unveiled a new initiative aimed at helping employees gain greater financial flexibility. DailyPay, the leading provider of the daily pay benefit — a benefit offered through employers that allows employees to receive instant access to their earned wages, gives employees the flexibility to make secure, instant transfers of earned but unpaid wages any day of the year, without having to wait until their next scheduled payday.
The partnership will empower Koinonia’s workforce with the financial freedom to access their wages whenever they need money, not just on payday. Direct Support Professionals (DSPs) and other staff members will have the ability to pick up an extra shift and get paid for it the next day, through DailyPay.
“Koinonia’s employees are, hands down, our most important resource and asset and, as employers, we have a duty to care for them,” Diane Beastrom, President & CEO, said. “This benefit encourages people to come to work each and every day feeling engaged because they have more financial flexibility and a safeguard against unexpected expenses.”
With DailyPay, employees may transfer their accrued but unpaid net wages to any bank account, pay card, or debit card prior to their next payday. Koinonia employees can also track their accumulated earnings during each pay period using the available balance feature.
“Any time that we can help employees to stress less about their finances helps our partners in their mission to provide optimal care to those whom they serve,” Jason Lee, CEO of DailyPay, said. “Financial stress has a trickle-down effect, and so does financial security. When employees feel secure about being able to meet their day-to-day living expenses, they are in a position to be more present and more productive in their jobs. And that makes everyone happy — the employees, our partners and our partners’ clients.”
There is no charge for employees to sign up for DailyPay. Similar to an ATM, employees pay a small fee of $1.99 per transaction to receive their funds the next day or $2.99 per transaction to receive their funds instantly.
Fast-pay options are a growing trend in payroll as employers promote the service as a way to reduce turnover and boost morale. DailyPay incentivizes Koinonia employees to work scheduled or additional shifts to increase their pay. The benefit is one of many innovative tools the agency is initiating to engage with the very best candidates who in turn, enable people who have IDD to live their best lives in our community.
DailyPay, the leading provider of the daily pay benefit — a benefit offered through employers that allows employees to receive instant access to their earned wages, works across a wide range of industries, including quick service restaurants, hospitality, retail, healthcare and other services. One in six Americans now has access to DailyPay through our trusted payroll service partners, including ADP, Paycor, Alight, SmartLinx, Netspend and other HR and payroll technology providers, who offer the daily pay product to their customers. With DailyPay, employees can pay bills on time and avoid late fees, helping them to 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.
For more information about DailyPay, visit dailypay.com or follow @DailyPay on Twitter.