Hospitals & Healthcare

Care for Your Healthcare Workers the Way You Care for Your Patients

Happier employees are more productive1, so show your employees you care. Your patients will thank you.

1 Source: Forbes, 2021

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Overcome Challenges

Healthcare workers across the industry have had a daunting couple of years working through the pandemic.

Staffing shortages and employee burnout have pushed healthcare employees to their limits.

In the last five years, the average hospital turned over 100.5% of its workforce, according to the 2022 NSI National Healthcare Retention & RN Staffing Report.

Hospital systems, home care companies and others in the industry should consider more ways to help ease employees through these hardships and empower them with greater financial wellness tools to support their well-being.

Increase Employee Satisfaction With On-Demand Pay

On-demand pay supports employees with access to their earned wages, giving them greater control over their finances. By offering on-demand pay, healthcare companies may be able to increase employee happiness and engagement, possibly leading to reduced turnover and higher-quality patient care.

Healthcare companies strive to provide excellent patient care. However, staffing shortages due to high turnover rates can be detrimental to quality care and customer service.2 The average hospital lost $5.2–9 million in bedside RN turnover costs in 2021, according to the 2022 NSI National Healthcare Retention & RN Staffing Report.3

When a workforce is short staffed and experiencing burnout, employees are less likely to be fully engaged in their work.

2 Source: NSI, 2022

3 Source: NSI, 2022

Advantages of On-Demand Pay in Healthcare

On-demand pay makes a noticeable impact on employees’ financial well-being.

47% of users say DailyPay has helped them avoid taking out a payday loan, according to a June 2022 DailyPay user survey.

Employees using DailyPay can also build savings accounts and access rewards — all of which may help to further improve job satisfaction.

4 Source: Mercator Report

5 Source: DailyPay, 2020

Reduced Turnover

According to the 2021 Mercator Research report, the average tenure of employees who used DailyPay increased by 27% over non-DailyPay users. This 27% increase in tenure translates to 39 additional days on the job.4

Improved Productivity

According to a 2020 DailyPay survey, 56% of users say DailyPay motivates them to pick up more shifts, and 59% say it motivates them to go to work.5

Happier Employees

52% of users say their opinion of their employer has improved since they began using DailyPay, according to a November 2022 DailyPay user survey.

DailyPay Integrates with Payroll and Attendance Systems

Partnering with DailyPay requires no additional work to implement and administer an on-demand pay program. Integrations are seamless and painless.

  • How can DailyPay help us stand out as an employer in the healthcare industry?

    DailyPay can help you stand out among your competition in the healthcare industry. Employers who offer DailyPay typically see nearly double the amount of job applications per job posting.

  • How can DailyPay help us fill shifts?

    DailyPay clients fill positions 53% faster when they advertise DailyPay and 46% of employees are more motivated to pick up extra shifts or work longer hours. Offering DailyPay encourages engagement and productivity.

  • How can DailyPay help with time clock compliance in the healthcare industry?

    To be able to use DailyPay and make transfers, users need to correctly clock their hours. DailyPay has seen that employees who use our products are much more diligent about inputting hours. This means that your payroll team will spend less time processing costly off-cycle payments.

  • How many employees does my company need to have to offer DailyPay?

    Currently, DailyPay is only available to companies with 500 or more employees.

  • How can healthcare retention be improved?

    Improve healthcare employee retention by improving workplace engagement. Increased employee engagement can help to attract top talent in a competitive landscape and keep current employees happy, minimizing the risk of staff considering other job opportunities. Learn more.

  • What causes high turnover rates in healthcare?
    • Common issues that lead to high turnover in healthcare may include a lack of workplace engagement, employee burnout, symptoms of stress, anxiety, depression and sleep disturbances experienced during the pandemic.
    • A tight labor market and stiff competition for talent also leads to higher turnover rates.
  • What recruitment strategies are most effective in healthcare?

    In today’s tight labor market, hospitals must differentiate themselves to attract and retain top talent. Empowering  employees with access to their earned pay before regularly scheduled pay cycles can help attract and retain top talent.

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