DailyPay Announces Partnership with Kellermeyer-Bergensons Services
Technology Payments Solution Reduces Employee Turnover by Improving Employee Financial Health
NEW YORK (September 21, 2017) – DailyPay, a financial solutions company that reduces employee turnover through instant access to earned income, today announced a national partnership with Kellermeyer Bergensons Services (KBS), the largest provider of technology-enabled interior and exterior property services with over 41,000 active customer locations under management in the U.S., Canada, and Puerto Rico. Together, DailyPay and KBS are combating the financial burden caused by the delay that arises from weekly pay schedules. Through this partnership, KBS employees can now receive their earned but unpaid income whenever they need it, even on weekends and holidays, a benefit proven to reduce employee turnover.
According to industry experts, turnover in facilities management is upward of 200%. According to the SHRM, employee turnover costs companies up to $4,000 per employee, a significant blow to the bottom line. The leading cause of employee turnover is financial stress. The DailyPay Movement helps employees mitigate financial hardships with access to earned income before scheduled paydays. With DailyPay access, employees can avoid late fees and overdrafts and end mounting cycles of debt.
The facilities management industry often recruits new employees who have been out of work. Offering DailyPay immediately puts new hires at ease because they can access their income immediately after clocking out on day one. This acts as a massive recruiting incentive for job seekers choosing between KBS and another company that only offers weekly pay.
This partnership announcement follows a single-location program pilot in Maumee, OH, where 100% of employees given the option to participate accessed their DailyPay account at least once. The early success gave KBS the confidence to roll DailyPay out in stages across their entire, highly distributed workforce.
“KBS gave us not only a chance to prove our technology, but also its usefulness among their employees,” said Jason Lee, Chief Executive Offer of DailyPay. “Our trial run was an amazing success, and I’m looking forward to helping more KBS employees with their first steps toward financial security.”
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 trydailypay.com or follow @trydailypay on Twitter.
Kellermeyer Bergensons Services, LLC (KBS) is the largest provider of technology-enabled, integrated interior and exterior property services to multi-region and multi-site customers in North America. With more than 41,000 active customer locations in all 50 U.S. states, Canada, and Puerto Rico, KBS sets the industry standard for delivering consistently high quality, compliant and cost-effective service solutions. Based in Oceanside, Calif., the company is majority owned by GI Partners.
For more information, visit kbs-services.com.