DailyPay Announces Partnership with 21c Museum Hotels
The World’s Most Innovative Hotel Group is Joining the World’s Most Innovative Payday Technology
(NEW YORK) May 14, 2018 – DailyPay, a financial solutions company that reduces employee turnover through instant access to earned income, today announced a national partnership with award-winning 21c Museum Hotels to bring easy access to earned but unpaid income to their 1,200 employees in nine locations across seven states. 21c was built with a passionate belief in the power of innovative and thought-provoking art to transform communities. Each location is a multi-venue museum featuring a contemporary art exhibition space open free of charge to the public combined with a boutique hotel and chef-driven restaurant.
Together, DailyPay and 21c are promoting financial wellness among their staff by offering a tool that lets employees withdraw earned money ahead of payday, giving them the freedom to pay bills on time, avoid non-sufficient funds fees, and reduce need for high-interest payday loans. 21c employees can now receive their earned but unpaid income whenever they need them, even on weekends and holidays, a benefit proven to increase employee engagement and reduce turnover.
Attrition is a serious concern in the hospitality industry. According to the Bureau of Labor Statistics, annual employee turnover in the hotel industry is currently at 73.8%, which equates to 6% of staff departing every month. This number has increased steadily since 2013. At over $4,000 to replace a single employee, high turnover has a significant impact to a hotel’s bottom line. 21c has joined The DailyPay Movement to help their employees mitigate financial hardships with access to earned income before scheduled paydays.
DailyPay offers 21c Museum Hotel employees immediate access to their earned but unpaid income through an intuitive, device-agnostic platform. After completing a shift, the net amount earned is added to an available balance from which employees can transfer up to 100% of net earnings and receive their money instantly.
“We are thrilled to partner with such a progressive and forward-thinking company like 21c Museum Hotels,” said Jason Lee, Chief Executive Officer at DailyPay. “21c is using contemporary art to revitalize our country’s most storied cities, and we couldn’t be happier to partner with them on this important mission.”
DailyPay works with mid-cap and enterprise companies in a host of industries, including cleaning, retail, healthcare and services.
For more information, please visit dailypay.com.
DailyPay’s mission is to give employees their first step toward financial security. DailyPay is the pioneer in providing employees real-time access to earned income across a wide range of industries, including cleaning, healthcare, retail, transportation, and more. With DailyPay, employees can pay bills on time and avoid late fees, helping them reach their financial goals. Companies have reported that DailyPay increases employee engagement and retention and helps to support recruitment. DailyPay is backed by leading venture capital firms and world-class strategic investors. The company is headquartered in New York.
For more information about DailyPay, visit dailypay.com or follow @trydailypay on Twitter.
About 21c Museum Hotels
21c Museum Hotels, the award-winning Louisville, Kentucky-based boutique hotel and restaurant group, was founded by contemporary art collectors and preservationists Laura Lee Brown and Steve Wilson. The couple opened the first 21c Museum Hotel in 2006 along downtown Louisville’s West Main Street, rehabilitating a series of 19th century warehouses. Much more than just a place to spend the night, 21c is an inventive union of genuine hospitality, careful design and culinary creativity — all anchored by a multi-venue contemporary art museum with thought-provoking exhibitions, interactive site-specific art installations and a full roster of cultural programming. 21c operates hotels in Louisville, Kentucky; Cincinnati, Ohio; Bentonville, Arkansas; Durham, North Carolina; Lexington, Kentucky; Nashville, Tennessee; and Oklahoma City, Oklahoma. 21c Kansas City and 21c Miami are currently under construction.
For more information about 21c Museum Hotels, visit 21cmuseumhotels.com.