G4S is a global security company with locations in 90 countries. Despite being scattered across the globe, the majority of our employees have two things in common:
- 95% of our workforce are hourly paid security guards.
- Many of them were living paycheck to paycheck.
Our employees asked for daily pay benefit option and we answered.
We run a biannual eNPS survey and found that U.S. employees, in particular, wanted to receive their pay more frequently. So we started looking at ways to do that because, if we could figure out how to pay our employees daily, it would be a game changer for our recruiting and retention efforts. In our business, employees will quit for a $.50/hour increase, so staying competitive in the market is paramount to our success.
Why we chose DailyPay.
Our CHRO, myself and other members of our payroll and HR teams evaluated three vendors who provided instant access to earned income. We chose DailyPay because, from a liability perspective, its model demonstrated the best concept. DailyPay made zero changes to our payroll process and timing of funds, and it is compliant with employee wage and hour laws in all 50 states. G4S takes on little responsibility because employee earnings flow through DailyPay and net earnings go right into an employee’s account.
Life with DailyPay as a payroll professional.
We’re short-staffed on our eight-person payroll team who is responsible for 45,000 U.S. employees. Post-implementation, which was run by an assigned account team, we were pleasantly surprised that there is very minimal ongoing maintenance and support; the DailyPay customer service team provides all employee support.
What are the results of offering DailyPay?
We fully launched DailyPay to all employees in November 2018 and when payday comes around, my payroll team runs its normal payroll process. Since using DailyPay, we’ve seen only positive results:
- 32% of our employees are using DailyPay.
- Attendance is up because people know that working one day will result in money the next day.
- We’ve seen a 46% reduction in turnover among the DailyPay employee population, freeing up a lot of payroll’s time and resources from offboarding and onboarding replacements.
- We’ve seen an increase in direct deposit enrollment as a result of DailyPay.
It feels fantastic to be able to alleviate some of the day-to-day financial concerns of our employees. If you’re in a similar situation, trust me when I tell you that your boss and your employees will think you’re a hero when you bring DailyPay to your company.