Nearly 90% of Americans Rely on Employers for Help Saving
The COVID-19 pandemic profoundly changed how people think about their financial futures. The goal of saving money to ensure financial stability is now more important than ever, especially for millennials, with nearly 9 out of 10 employees turning to their employers for support.
How the COVID-19 Pandemic Affected American Workers
A new Harris Poll, commissioned by the Funding Our Future campaign and DailyPay, revealed that:
of Americans with household incomes below $50,000 report they now have less in savings than before the pandemic hit, compared to only 13% who have more
of Americans are anxious about their current financial situation
of employed Americans say that it is very important (54%) or somewhat important (32%) that their employer offers a retirement savings program, such as a 401(k) account
of employed Americans—and 79% of employed parents of children under 18—say that they would be very or somewhat likely to switch employers if their current employer did not offer a retirement savings program
of respondents say that they would benefit from getting paid more frequently at work than they currently do, including 70% of hourly workers ages 18-55
Providing the Right Benefits for Today’s Employees
DailyPay’s product offerings were specifically designed to meet the needs of employees in the modern world, both in times of crisis and in everyday life. Millennials especially are used to a lightning-fast world where everything they need is available at the push of a button. On-demand pay puts money in the right place at the right time for everyone, so life doesn’t have to wait for payday.