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2023 Study

Earned Wage Access: A Powerful, Cost-Effective Financial Wellness Tool

The 2023 study by Arizent and Employee Benefit News commissioned by DailyPay of over 10,000 earned wage access (EWA) users revealed the employer-sponsored benefit gives employees unprecedented control over their financial wellness. 

EWA provides employees peace of mind, which can improve job satisfaction and engagement. For employers, this means lower turnover and greater productivity, reducing recruitment and onboarding costs and fueling business growth.

The survey was conducted among DailyPay users and clients to understand the impact of EWA on both employers and employees.

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Findings from the study include:

96% of those who use DailyPay’s EWA solution are satisfied with their experience.
Nearly 73% of employers surveyed say DailyPay is a critical piece or a cornerstone of their approach to financial wellness benefits.
71% of employers surveyed have substantiated improvements in key performance indicators, such as boosts in employee satisfaction and drops in turnover rate, as direct outcomes of implementing DailyPay.
Eight in 10 (82%) employers surveyed say adopting DailyPay’s solution was easy.
A document titled "Expanding Small Business Access to Account Validation: A Powerful, Cost-effective Fraud Prevention Tool." The cover page features an illustration of hands holding a tablet, charts, and a magnifying glass. Two blurred pages are visible in the background.
Download the white paper to read the full study findings
A document titled "Expanding Small Business Access to Account Validation: A Powerful, Cost-effective Fraud Prevention Tool." The cover page features an illustration of hands holding a tablet, charts, and a magnifying glass. Two blurred pages are visible in the background.

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