Taco Bell, G4S and BrightSpring Health are among the hundreds of leading businesses that have joined forces with DailyPay to change the antiquated way people are paid
The COVID-19 pandemic has shattered the workplace as we knew it. Every business has had to embrace engaging and connecting with their employees in a smarter, more efficient way. As companies re-emerge, normalcy will look different in many ways – including how employees are paid.
DailyPay is already defining and revolutionizing the on-demand pay experience for the post-COVID-19 world and is at the forefront of the movement to “pay different.”
“In an instant, our entire business changed like never before as the COVID-19 crisis unfolded,” said Pinny Faska, Chief Operating Officer at Rockaway Home Care. “Every single company workflow or process we relied on was thrown into upheaval. That is, except one – DailyPay. We feel fortunate to have been partners beforehand because, without it, many members of our incredible staff would have been in an insecure position during a crisis.”
The Pay Different campaign is anchored by the new PayEx platform which comprises a series of premier capabilities that, for the first time, enable the entire workforce to experience payday on their own terms. It provides a unique approach to pay that enriches and differentiates a company’s employee experience at every stage of the employee lifecycle, from onboarding to departure. The majority of DailyPay’s large companies that are launching this month have asked us to accelerate launches in response to economic and employee needs.
“We are living in a new world, where relationships between family and friends have changed,” said Jason Lee, CEO of DailyPay. “This pandemic has shown the world that pay needs to be digital and instant. We owe it to every working American – especially the new heroes who have emerged – to pay them instantly so they can meet every one of their needs.”
In a recent research study, the data (see below) affirms the notion that when employers pay different, they see different results. For working Americans, this on-demand pay experience allows them to take control of their future and they become more engaged and productive employees.
The research indicates that, on average, employees who use the daily pay benefit, save $1,205 per year because they have more control over managing their money and can avoid late fees, overdraft fees and predatory payday loans. Of those we surveyed:
- 78% say they are avoiding late fees.
- 74% say that their financial stress is reduced.
- 70% say they no longer have to take out predatory payday loans.
- 85% of those who use a daily pay benefit claim that it enables them to budget and pay large monthly bills like rent, utilities, car payment, etc.
- 59% say DailyPay motivates them to go to work.
Source: DailyPay On-Demand Survey 2020
DailyPay will be rolling out a series of new initiatives tied to the “Pay Different” campaign in the coming weeks. Join our webinar on “Rebuilding Trust in the Workplace Post COVID-19” on Tuesday, May 19th at 1:00 – 2:00 pm ET.
DailyPay is a SaaS award-winning fintech solutions company supporting over two million employees at world-class companies, including Adecco, Berkshire Hathaway and G4S, with an on-demand pay platform. DailyPay is headquartered in New York City with operations located in Minneapolis. For more information, visit dailypay.com/press.