Partner: BrightSpring Health Services
US Headquarters: Louisville, Kentucky
Industry: Health Care
Number of Employees: 56,000
Payroll Platform: ADP EV5
Time & Attendance Platform: Kronos
Cindy Eisenmenger, Vice President of Cash Disbursements at BrightSpring Health Services, has been with the company for 23 years. She is responsible for overseeing ADP and the payroll systems and processes for more than 56,000 employees at thousands of locations in 49 states. BrightSpring, which was founded in 1974 in Louisville, Kentucky, provides pharmacy, home health, hospice, neurorehabilitation, behavioral health, family and youth, and workforce development services to more than 60,000 customers, clients and patients daily. They were looking for affordable ways to improve the employee experience for their workforce when they received an email from DailyPay. We recently spoke with Cindy to learn more about how adding on-demand pay as a benefit has helped her organization meet their goals.
Adding a human touch to a humanitarian company
Across the country, wages have stagnated in the home healthcare field. With 18% of home healthcare workers living below the poverty line, adding financial wellness benefits can greatly increase the quality of life and the employee experience for these hardworking individuals. We know the amount of physical and emotional labor that working for BrightSpring requires, and we were looking for the perfect opportunity to make our employees’ lives a little bit easier. Our business is humans taking care of humans, and robots will never be able to do that. Implementing this benefit shows that we don’t just see our employees as workers, but rather as multi-dimensional human beings with a variety of needs. By reducing some of their financial worries, we also helped them to stress less and become more engaged in their work, all at no cost to our company.
The best part is that DailyPay basically runs itself after implementation. It gives our employees so much power and agility over their finances, and DailyPay pre-funds all the employee transfers so we don’t have to. Since implementing DailyPay, company-wide turnover rates have decreased from 68%-72% to 58.5%, in part because employees want to stick around and continue to have access to on-demand pay. We’ve also seen a large increase in our number of applications for open positions, some as high as 34.7%. Why wouldn’t you want to offer this benefit to your employees? This is where we want to be as a company. It’s a win-win for all involved.
Benefits far beyond financial wellness
One of the positive changes we noticed after implementing DailyPay was an immediate reduction in paper checks. Because employees need to be enrolled in Direct Deposit or have a pay card in order to use DailyPay, many employees updated their pay from paper checks in order to use the benefit, which saved our company a lot of time and money. DailyPay also made the implementation of our Kronos timekeeping system much smoother, as employees were excited to use the new digital system, which also allows them to use DailyPay. We didn’t have to change anything internally with our direct deposit system, so the integration was virtually seamless.
Implementing DailyPay has helped streamline our payroll process and saved our staff time, money spent on postage, the headache of the check-clearing process, and the recon efforts for any errors. DailyPay is paid back in one lump sum for all employee transfers each pay period, so there are no off-cycle payments required on our end. We see that the average transfer is around $108-$115, usually taken out in odd amounts, which shows us that our employees are using this benefit to make ends meet and pay their bills. It gives us a great sense of pride to know we can support them and their families with this benefit.
Creating a powerful partnership with DailyPay
When I saw DailyPay’s CEO, Jason Lee, at the ADP Meeting of the Minds conference, I got so excited! I ended up standing at the DailyPay booth with him, answering questions from prospective partners on security, compliance and many other issues. This partnership has been so powerful, with DailyPay supporting our employees’ needs, helping us with our business goals, and always being accessible on the rare occasions when a user issue arises. I was grateful for the chance to spend time with Jason and spread the news about on-demand pay access and its power to create so much change and positive employee experience.
There is even more word-of-mouth advertisement for DailyPay within our company, as our employees excitedly encourage one other to use the benefit, citing both its usefulness and its simplicity. We know this service is helping them pay their bills on time and break the predatory payday loan cycle. It is professionally empowering and personally heartwarming to be a part of the DailyPay revolution. Here’s to spreading the word about this life-changing new benefit!
“It is professionally empowering and personally heartwarming to be a part of the DailyPay revolution.”