DailyPay Announces Partnership with Caring Place
Senior healthcare provider offers new financial care benefit to their employees
NEW YORK (February 28, 2018) - DailyPay, a financial solutions company that reduces employee turnover through instant access to earned income, today announced an exciting new partnership with Caring Place Healthcare Group, southwestern Ohio’s premier provider of post-acute care. Ranked by US News & World Reports as a top nursing home, Caring Place provides the highest levels of transitional care, rehabilitation therapy, long-term nursing services, assisted and independent living in the Cincinnati/Dayton region across six locations with over 1,000 employees.
This partnership came about so Caring Place could relieve its employees of the financial burdens that arise between paychecks. Through this partnership, employees can control when they receive earned but unpaid income whenever they need them, including weekends and holidays. DailyPay’s healthcare partners have seen, on average, 36.4% active adoption.
As one of Southwest Ohio's leading senior healthcare providers, Caring Place feels privileged in the work they do. Adopting DailyPay as a voluntary benefit aims to set employees up for success so they can fully attend to those under care without the distraction of personal financial stress.
One of the biggest issues for the healthcare sector is staffing. Baby boomers are aging, and the percentage of the population that needs some form of care is growing. With the 30-year low in unemployment, the number of people willing to take these jobs is shrinking. Working in healthcare is a fast-paced, stressful, and often thankless endeavor. The last thing healthcare workers need is additional stress from their finances, which is itself the leading cause of attrition. This is where DailyPay comes in, helping employees mitigate financial hardships with access to earned income before scheduled paydays.
DailyPay is an intuitive platform for accessing earned but unpaid income. After completing a shift, the net amount earned is added to an available balance from which employees can withdraw up to 100% and receive their money instantly. Fees plague wage earners more than anyone. With DailyPay, caregivers can avoid late fees, overdraft fees, and high-interest payday loans on sudden expenses.
DailyPay has been able to build the capability to deal with sector-specific nuances such as caregivers jumping between different locations and pay cycles, as well as helping them to solve the problem of needing to cut checks for off-cycle payments.
“I am thrilled to partner with a company like Caring Place, whose very name embodies our people-first mission,” said Jason Lee, Chief Executive Officer of DailyPay. “Caring Place has indeed made their place of work a caring place by giving their employees a path toward financial freedom.”
DailyPay works with mid-cap and enterprise companies in a host of industries, including cleaning, 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 income across a wide range of industries, including cleaning, healthcare, retail, transportation, and more. 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.
For more information about DailyPay, visit dailypay.com or follow @trydailypay on Twitter.
About Caring Place Healthcare Group
As a leading provider of post-acute care, Caring Place is focused on providing quality healthcare and enriching the lives of patients and residents. As Southwest Ohio's leading senior healthcare providers, Caring Place provides the highest levels of transitional care, rehabilitation therapy, long-term nursing services, assisted and independent living in the region. Whether you, or a loved one, are in need of short-term therapy, or longer range care for Alzheimer's or other complex medical conditions, their professional and caring staff is here to provide you with unparalleled clinical care and personalized service in a home-like setting.
For more information about Caring Place, visit caringplacehcg.com.