DailyPay Announces Partnership with Christian Horizons Elder Care
Faith-based nonprofit care center teams up with DailyPay to help staff achieve financial wellness
NEW YORK (April 6, 2018) - DailyPay, a financial solutions company that reduces employee turnover through instant access to earned income, is excited to announce a new partnership with Christian Horizons, a faith-based not-for-profit whose mission is to honor God by providing a continuum of excellent care and support services, primarily for older adults.
Christian Horizons employs over 2,100 caregivers across fifteen locations plus homecare services. These employees can now receive their earned but unpaid income whenever they need it, even on weekends and holidays. DailyPay’s healthcare partners have seen, on average, 38% active adoption.
Christian Horizons’ mission to build Christian communities that promote independence, wellness, and affordable living for older adults. To realize this mission, they must also constantly work to support their community of caregivers, which is why they’ve chosen to partner with DailyPay.
The caregiving industry faces an employment triple threat. The first is high industry-average employee turnover, which costs on average $2,500–3,000 per exiting employee and can cause inconsistent levels of care and attention. Second, the 20-year low in unemployment makes for an extremely competitive market for talent. And third, the Baby Boomer generation is aging, and the percentage of the population that needs some form of care is growing.
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 turnover. This is where DailyPay comes in, helping employees mitigate financial hardships with access to earned income before scheduled paydays.
DailyPay offers Christian Horizons caregivers an intuitive platform for accessing their 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, Christian Horizons 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.
“Christian Horizons’ mission of service is incredibly important,” said Jason Lee, Chief Executive Officer of DailyPay. “This people-driven vision is just as much about their employees as it is their patients. I’m thrilled to partner with them to give their caregivers a tool toward financial wellness.”
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.
About Christian Horizons
Christian Horizons believes in a future of senior living where older adults thrive. As a faith-based not-for-profit, Christian Horizons’ mission has been to honor God by delivering a continuum of compassionate care that promotes independence, wellness, and affordable living for older adults.Their 13 Communities across Illinois, Indiana, Iowa and Missouri provide excellent living options, including independent living, assisted living, supportive living, long-term skilled nursing care, memory care, hospice and home-based services.
For more information about Christian Horizons, visit christianhorizonsliving.org.