We need your help to revolutionize how people get paid. Why? Because nearly half of U.S. workers live paycheck-to-paycheck, resulting in almost $30 billion being lent out each year in the form of high-interest predatory payday loans.
A daily pay benefit solution can help solve this problem by allowing workers to control over when they get paid. But we can't do this alone, which is why we're attending HR Tech to work with companies who share our mission to boost financial security in the workplace.
We've created an innovative technology that gives employees instant access to their earned but unpaid wages. To get our technology into the hands of Americans who need it, we partner with best-in-class companies to offer a daily pay benefit (at no cost to you!).
Our partners have already joined with us to solve this crisis. These companies have already seen impressive increases in recruiting, engagement and retention by offering DailyPay.
If these are some of you strategic priorities, we really should talk.
- Jason Lee, CEO and Co-Founder, DailyPay
Companies have seen, on average, a 41% reduction in turnover for DailyPay users
73% of DailyPay users say they are more motivated to come to work
People are 1.9x more likely to apply for a job that pays daily
Move over Uber, Self-Driving Payroll is Here
Room: Expo - HR Tech Talks Theater 2928
Wednesday, October 02, 2019: 2:00 PM - 2:20 PM
It’s no surprise that the fastest growing payroll and HR trend in some of the world’s largest companies is a daily pay benefit. For the first time in 50 years, the payments ecosystem is reinventing itself during a seismic technological shift. A daily pay benefit empowers employees to achieve financial security by giving workers control over the timing of their pay. This allows employees to pay bills on time, avoid late fees and replaces the need for expensive payday loans or overdraft fees. The result is a meaningful impact on recruiting, retention and employee satisfaction.
After the debut week at Christian Horizons, DailyPay’s program was measured at 5% enrollment rate. To date, enrollment rates have risen to 78%.
More importantly, over a four-month period, Christian Horizons reports that the benefit has reduced their turnover by 7.2%.
DailyPay estimates by the one-year mark, Christian Horizons will have saved $531,240 by reducing turnover and decreasing the number of new hires.
Captain D’s has also found that, in addition to using DailyPay to access earned wages ahead of payday, employees also use the app to check their accrued wage balance regularly. This has incentivized many employees to sign up for more shifts, realizing the immediate impact more hours can have on their next paycheck.
Ann Sizemore, SPHR, Vice President of Human Resources for Captain D’s, said, "Rolling out DailyPay has been incredibly smooth so far.”
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