Webinar Transcript

Duration: 60 minutes

Jamie:

Good afternoon everyone. I’m Jamie from the marketing team at DailyPay and this is a webinar brought to you by DailyPay and our partner Viventium, called Supporting Our Front Line Heroes in Healthcare. Before we get started, I’d like to go over a few items, so you know how to participate in today’s event. During the webinar you’ll have an opportunity to submit text questions to today’s presenters by typing your text questions in the questions pane on the control panel.

Jamie:

So you may send in those questions at any time during the presentation and we’ll collect them and address them in the Q&A session at the end of today’s presentation. So now I would love to introduce to you today, Terra Vicario, Chief Marketing Officer at Viventium and Jeanniey Walden Chief Innovation and Marketing Officer at DailyPay.

Jeanniey Walden:

Thanks Jamie. Hi, this is Jeanniey Walden. I’m the Chief Innovation and Marketing Officer here at DailyPay. For those of you on the webinar are not familiar with DailyPay. We are a FinTech software platform that focuses on enabling employees to have access to the pay that they’ve earned as soon as they earn it.

Jeanniey Walden:

We integrate with incredible companies like Viventium, to make that possible for organizations and especially during the crisis that we’re going through right now. Getting your pay when you need it the most has never been more important, but I’m certainly not the star of the show today.

Jeanniey Walden:

I think Terra is, and she’s here with me today to talk about exactly how Viventium has partnered with a number of clients in the healthcare space and also with DailyPay to ensure that during the crisis and beyond, organizations have the elements that they need from payroll, time management and employee experience standpoint to create a great workforce and support for customers, clients, and people out there that need it the most. Terra, would you like to introduce yourself and tell us a little bit about Viventium?

Terra Vicario:

Sure Jeanniey, thanks so much. So my name is Terra and I’m the Chief Marketing Officer at Viventium. Viventium is a payroll and HR software company that specializes in the home care and skilled nursing industries. We’ve been in business for nearly 30 years and support all 50 States with HCM services. So everything from payroll, to HR, to onboarding, to ACI. Today we pay nearly 235,000 health services professionals in the home care and skilled nursing industries.

Jeanniey Walden:

Fantastic, and thank you so much for joining. What we’re going to accomplish today is pretty amazing and pretty powerful today. We’re going to spend the next 60 minutes speaking with all of you and sharing information about how top companies are preparing for and ensuring physical and financial health, for their new hires and existing staff in the healthcare industry.

Jeanniey Walden:

We’re also going to talk about why ensuring your employees financial stability is possibly one of the most beneficial things you can do for your business today. And as we re-emerge into a society that is just successful and growing again. And finally we’re going to hear stories from top companies. The steps taking to thrive and survive during this pandemic. So without further ado, I’m going to share some stats with you that I think will help set the stage.

Jeanniey Walden:

What you’re seeing on your screen right now is what we call the DailyPay workforce index. When the pandemic started, we started to see shifts across all of our clients in many industries at DailyPay. We started to see changes in both the average hours worked by employees as well as the number of working employees. It was very different across every different industry. In addition to that, we also started to see people taking their pay out before payday for very different reasons than we had seen in the past. So we created an index.

Jeanniey Walden:

It’s shared with everybody, and we’ll share the link after the webinar with all of you, to make it available to employers like yourself, so that you can follow along with the trends, understand the impact that’s happening in your industry or a similar industry so that you can understand what’s happening with other companies and understand how you can take those learnings and apply it to what you’re doing to support your employees through the crisis.

Jeanniey Walden:

What I have up on the screen right now is the workforce index for hospitals. Now, what you can see on top is the average hours worked by one employee and you can see that they’re fairly consistent with minimal changes. Early on in March, at the beginning of the pandemic, we saw some decreases coming in where people were not working as many hours as they had been. And then we started to see what we’ve all seen in the media, whether you’re in a hospital or whether you’re in the healthcare industry in general, a need for people to work extended hours and increased hours.

Jeanniey Walden:

We continue to see each week the number of hours being worked by a single employee, slightly increasing, and you can even see as early as Monday of this week, we’re still continuing to see that trend. That’s really insightful for us because although we all see it on the media, doctors, nurses, other healthcare workers, people in hospitals are giving more and more hours because of the pandemic and because of the increased need.

Jeanniey Walden:

It’s often interesting to see how the rest of the world is doing in this area and how what you’re doing in your organization may compare with your industry coworkers. What we also see on the bottom here is the number of working employees as a percent of all employees, and one for the hospital industry is quite interesting.

Jeanniey Walden:

Because what we saw in industries like hotels was at the beginning of the pandemic, and this also happened in retail, there was a significant decrease in the number of working employees as a percent of all employees in the category as hotels and retail providers were having to furlough and lay off a high percentage of their staff. We didn’t see that in the hospital category, which makes perfect sense. But what we’re starting to see here is, we’re starting to see an impact this week.

Jeanniey Walden:

That’s very interesting to us and this is an index, so it’s looking at all of the different data points and elements and it’s too early for us to make any insights or suggestions or even create a theory around this right now. But we do know that people working in hospitals are becoming fearful that they will get sick, they are getting sick or they’re afraid that when they come home from their hospital job that they will cause their families to get sick.

Jeanniey Walden:

So we are seeing significant changes in the number of employees being staffed across the board. Unfortunately we all are also seeing some health industry entities that are unable to stay open during this time for a variety of reasons across the United States. So an index like the DailyPay workforce index, is built to give you all insights into what we’re seeing from the clients that we work with at DailyPay, so that you can take that back and look to make positive change within your organization or possibly get some insight about what’s coming up in the future so that you can best be prepared.

Jeanniey Walden:

And being prepared is, I think what it’s all about at this time and day. Because if you take a look at the next slide, it is really the healthcare industry that is creating such a good movement in the world and you are the frontline heroes for anyone that’s in that healthcare industry. Even Mike Pence came out on Twitter April 5th and said thank you to HCA healthcare, for working to get ventilators to New Jersey and New York. And in addition, rather than laying off their workers, they created a special pandemic pay program for 40,000 employees.

Jeanniey Walden:

Now we are seeing incredible stories like that happen all over the place. At DailyPay, well, we are a FinTech software company that enables companies to get their pay. We actually looked at what we could do to help make an impact and support the frontline workers during this time. And we made the decision across the board to wave access to next day pay, which means any employee who’s working with an organization that offers DailyPay can access their money the day after they earn it.

Jeanniey Walden:

That’s how DailyPay makes their money. So for us, we had to make some tough decisions around where we would cut corners internally, where we would shift marketing dollars and where we would make changes that we felt that it was critically important at this time that every worker in the healthcare industry and all of our industries that we support have access to their money.

Jeanniey Walden:

Because in that index, as I mentioned to you earlier, what we were seeing was people were starting to take out a lot more money earlier, but not for what they had been taking it out for in the past. Before the pandemic, we saw that people would take their pay early to pay a bill off early, to improve their credit score, to pay a bill that was unexpected, like a medical bill that they received, or they got in a car accident, or would see things as simple as, it’s three days before payday and I’ve run out of gas, so I need to take a little bit out to make sure I have enough gas to get to work and to get my kids to school for the next couple of days.

Jeanniey Walden:

We saw a lot of different reasons that were built around life management. When the pandemic started to hit, we saw people taking out money to do things like buying medical supplies, buying extra diapers, buying food because they weren’t sure how long that we would be in a work from home environment, looking to buy gloves, and hand sanitizers and everything else that they needed to stay safe. Because at the beginning, nobody knew what was happening.

Jeanniey Walden:

As we started to see more people spending time at home, we started to see the shift and the need for money change to managing what you would expect when you’re staying at home. People were using their pay early to buy more food because now they’ve got a whole house full hold of people eating a lot more food than you would eat if you’re in school and you’re at work every day.

Jeanniey Walden:

We started to see people taking money out in order to update their data plans, either on streaming sites like Netflix, or Hulu, or even [inaudible 00:10:41] AT&T and Verizon, so that they could continue to be entertained while they were in a stay at home environment. So really interesting shifts in the reasons that people were accessing their pay early. We saw a number of people taking their pay out early so that they could go off cycle grocery shopping.

Jeanniey Walden:

They would tell us, “Hey, if I go to Costco on Tuesday, the line’s not so long. Thank you for letting me get my money out on Tuesday instead of waiting until the 15th and having to stand in line with everybody else.” Or you know, we’ve received a lot of emails from people saying, “I heard that CVS is going to have more toilet paper on Thursday, so thank you for letting me get my money out when I needed to go buy toilet paper.”

Jeanniey Walden:

It’s been very interesting, but I think what we’ve seen in general is, the needs of the American worker have changed significantly as a result of the pandemic and the rest of America businesses and employees and just regular people are out there doing whatever they can to make the most of it and support the frontline heroes like all of your companies and all of yourself.

Jeanniey Walden:

If you look at the next slide, I mean, it’s all across the media. Every company is looking at what they can do. Every American is realizing they probably haven’t saved as much money as they needed to. Especially nobody expected a pandemic to hit. I heard on the media just a couple of days ago that restaurants are questioning the opportunity to reopen simply because in all of the insurance documents, for some reason, even though there hasn’t been a pandemic for many, many years, there is no insurance coverage for pandemic. It has actually been taken out of many insurance policies.

Jeanniey Walden:

So in the case of restaurant workers, they’re concerned because if they reopen their restaurant and somebody happens to get sick at their restaurant, there could be a lawsuit that an insurance company will not cover. So there’s a lot of concerns out there. A lot of people that are being furloughed, a lot of people who are being laid off, a lot of people like my mom who’s in her late seventies and works at a supermarket who have chosen not to come to work and are using vacation pay and other types of pay in order to stay safe so that they can trade off going to work versus staying alive.

Jeanniey Walden:

And I think it’s really something that has become front of mind with everybody. Looking at ways that Americans can still get money that they’ve earned during this timeframe as the government trust to do everything that they can to get stimulus dollars out and unemployment dollars out, is really important.

Jeanniey Walden:

So as an employer you have some options either offering a service like DailyPay that gives people access to their money as they work or even looking at FlexPay options and pay cards and other initiatives, really doing things that are more digitally driven, that give employees power over the money that they’ve earned when they earn it, how they choose to spend it has been key.

Jeanniey Walden:

So for that reason, and many others, we look to incredible organizations to build partnerships with so that we can make our service available to other people and the broad massive companies. And when we came across Viventium, it wasn’t at the time of the pandemic. It was way before that.

Jeanniey Walden:

But on the next slide, we were thrilled to be able to formalize our partnership during this crisis so that we really could partner with Viventium to bring great opportunities and access to insights, benefits, and even some of the stimulus package dollars to you through them. So with that said, I’m going to actually turn it over to Terra to introduce herself again to you and just briefly give a statement about Viventium. And then Terra, I’ve got a whole slew of questions to ask you.

Jeanniey Walden:

Where we can go into you sharing a lot of the great insight tips and tricks and even some of the stories that you have about what’s happening out there on the frontlines.

Terra Vicario:

Thanks Jeanniey. We’re really excited about this partnership as well. The timing could not be better. And a lot of people will start off by just wondering, what is it about our payroll and HR software that makes it health services friendly? So I just want to sort of give you a little bit of a debrief on that before we get into what we’re hearing. So, there’s a couple of reasons why we are niche within the market.

Terra Vicario:

And the first is that, we stay on top of payroll requirements that are specific to the health services industry. So our dedicated health service team is trained on all of the nuances that exist in the industry. So clients don’t speak to a generalist when they call us. They get a dedicated payroll expert who’s been trained on the issues that health services clients are dealing with.

Terra Vicario:

The other reason is that we understand the needs of the health service providers so well that we build into our technology platform capabilities that streamline and otherwise manual process. So some examples of this are we handle calculations that support retroactive overtime, blended rates, and even local requirements. So for example, in New York home care agencies need support with their wage parity and spread of hours calculations and we save them a lot of time assisting with those calculations.

Terra Vicario:

We also help home care agencies provide more transparency when it comes to the employees pay by displaying all six data points required by EBV on their pay stubs. And what is all of this mean? That the data that we collect and that we are able to demonstrate with our calculations are really helpful when it comes to audits since payroll is the main system of record.

Jeanniey Walden:

That’s fantastic. And certainly one of the reasons that we were so impressed with what you were doing, and I know so many of the companies that you work with are just… They give you such amazing five star reviews. But you do work with a number of home care agencies and skilled nursing facilities. Tell me a little bit more about what you’ve been hearing from your clients as they navigate through this crisis.

Terra Vicario:

Well first I just want to take the opportunity to say thank you, from all of us at Viventium because these home care workers and skilled nursing facilities are amazing us with their dedication and their bravery. So we’re very lucky to have so many caregivers and nurses who continue to work every day and take care of the people within our communities. In regards to home care agencies specifically, we’re hearing that businesses are experiencing a mixed bag depending on the makeup of the types of services that they provide.

Terra Vicario:

So many of our agencies have told us that they have seen little to no change in the amount of living cases, chronic and hospice cases, or longer shift work cases, where they have seen a bit of an impact is more in short term cases where caregivers visit for less than four hours or so. It seems like neither the patient, the patient’s family or the caregivers see enough value in these services to take any unnecessary risk of exposure to the virus.

Terra Vicario:

As an offset to this, some of our clients have also shared that they’ve seen a steady increase in the amount of family caregiver cases in the States that support CDPAP, which is the Consumer Directed Personal Assistance Program. So nearly all of our clients remain very positive about the future of home care services as well as skilled nursing facilities due to the aging population, the cost of staying in a hospital long term, and the preference of patients to continue to live at home for as long as they can.

Jeanniey Walden:

That’s really, really interesting. And it’s so critical and I love that you’ve been seeing those insights, but I must imagine that you’ve been hearing even more about challenges. So what are other challenges that you’ve been hearing?

Terra Vicario:

Yeah, we’ve been hearing a lot of challenges, many of which you would expect. So difficulties in getting access to supplies. These agencies are working around the clock to do everything they can to keep their workers safe. With safety being their top priority. They have to stay well stocked with masks and gloves and sanitizer just to name a few. Agencies are also needing to find creative ways to provide safe ways to and from these cases particularly true in large cities where healthcare workers really need to rely on public transportation. Clients are having to incur additional costs for services like Uber.

Terra Vicario:

And of course extra training is also being provided to ensure safety for both the caregiver and the patient. There’s always been a challenge in retaining top caregivers. It’s a topic at every trade show that you go to regarding the health industry, but now it’s even more challenging because you have kids that are at home, family members who are getting sick, and even caregivers who may get sick or have the fear of getting sick. Like you had mentioned Jeanniey. It continues to be a shortage of workers.

Jeanniey Walden:

Yeah, for sure. And I think we’re seeing that on our index. It’s coming up both in the data that we’re seeing and then also in an additional commentary. I want to go back to something that you said about transportation because when you look at all of the effects of what’s happening with the crisis transportation and just the ability to get people to work is not one that might initially be top of mind. And I think Lyft has come out with special services. Uber has come out with special services.

Jeanniey Walden:

But as far, and I think some of them are free, I live in New Jersey and take… Well, used to take a ferry to work every day and the ferry has even announced that they’re offering free transportation for anybody on the frontline, be it a healthcare worker or something else. Do you feel like the transportation industry is doing as much as they can? I mean, I feel like they’re almost on the frontlines as much as the healthcare workers or exposing them to the healthcare workers as they go into home care, different home care homes or different hospitals, rehabilitation centers, things like that.

Terra Vicario:

Yeah, I think that everybody who has everybody’s job is just so important. And I think that this case in this crisis has caused and called attention to the fact that transportation industry, and healthcare workers, and food services preparers, and grocery store workers all play an important role. And it’s been really amazing watching everybody rise to the occasion. Just so that we can all continue to live in and try and be as safe as possible.

Jeanniey Walden:

Yeah. Yeah. So I imagine that for anybody in this space, communication and technology has become of utmost importance. Making sure that you’re over communicating, we’re trying not at DailyPay even with our own employees over communicating it and leveraging technology. So what about communication and technology? Have you heard anything about that?

Terra Vicario:

Yeah, so it’s been challenging enough for these industries with people who aren’t just sitting in an office all day with access to computers. But technology has played a major role in keeping a constant stream of communication with employees during this time. So everything from scheduling to time and attendance to payroll, to HR, to training, they require mobile apps where administrators can get the information they need, so that they can get accuracy in their billing and payroll and training requirements.

Terra Vicario:

So agencies that already had a lot of these functions in place before the pandemic are having an easier time obviously, than ones that didn’t. And of course, agencies are looking for creative ways to make things easier on their caregivers, like flexible pay options, which I know we’re going to get into in a little bit. Agencies have told us they’re trying to keep employees out of the office and switching to paperless options like direct deposit and pay cards and now DailyPay will help them do just that. We have a self service tool so they can view their pay stubs without needing paper, which is great.

Terra Vicario:

So all of these options marry nicely with that offering. And there’s been also an increasing shift towards using telemedicine, but many clients weren’t set up with the technology they needed prior to the pandemic. So communication and technology are definitely important. We’re all seeing that no matter what area of business, but for them in particular to be able to have communication with their employees.

Jeanniey Walden:

Yeah. You know I think it’s almost like a feeling like, people talk about the future of work and I think I’ve seen some funny memes on LinkedIn and stuff that people have been talking about the future of work for a couple of years now. But everyone was like, yeah, it’s in the future. Like we don’t have to worry about, we’ll get to it in the future and now here it is, the pandemic happens and everyone is really scrambling to be prepared for probably what they should have been prepared for.

Jeanniey Walden:

I have a friend who works for an insurance company that processes vision claims and she runs the claim center. So when the pandemic first hit, I called her and asked her how her family was and everything. And when she said, Oh my gosh, it’s crazy because people are mailing their vision claims in like they normally would because people want to get reimbursed for their claims.

Jeanniey Walden:

And so paper mail is still coming to the office. Somebody still had to go into the office even though everybody else has worked from home to get the mail to open it up. And because as you mentioned they weren’t set up with the right technology. Literally someone’s taking pictures of these claims on a company cell phone. So there’s no chance of hacking and it’s not personal. And then using these pictures, uploading them so that they can send them to now the claims processing people who are all working at home.

Jeanniey Walden:

And she was just saying that it’s incredible A, how quickly they were able to come up with a work around, which was fantastic. But B, just how you realize that no matter how strong your business continuity plan is, you probably didn’t think about something. And in their case, what they hadn’t expected was the paper mail is still going to happen and people were still going to be mailing their claims.

Jeanniey Walden:

So it is kind of fascinating and I think it’s everybody’s job to try and figure out how we can accelerate that move to digital and what else we can do. I love that you have, it’s one of my favorite, features is that you have that self service tool to view pay stubs without needing the paper because certainly today with taxes still being needed to be filed and unemployment claims and even other stimulus related claims, being able to get that data without having to remember where you filed that paperwork or even if you left it at the office is key.

Jeanniey Walden:

So kudos to you guys for going above and beyond. It’s amazing because you’ve been doing so much. So I think the audience would really appreciate understanding what Viventium has done to help all of their health clients.

Terra Vicario:

So thank you for that Jeanniey. In addition to providing clients with the tools that can assist them free of charge, I might add. So everything that we’ve come out with is free of charge. We’ve also focused on three main areas since March to help our clients. So the first is to really help them understand the new laws that have been implemented like FFCRA, which stands for Families First Coronavirus Response Act, which was signed on March 18th and went into effect on April 1st.

Terra Vicario:

This Act provides paid second child care leave to employees who cannot work and allows their employees to claim those leave payments as tax credits. There’s also the CARES Act, which is the Coronavirus Aid, Relief, and Economic Security Act, which was signed into law on March 27th and provides a range of benefits to assist employers during these challenging times, like 50% employee retention credit, the deferral of payment of employer social security, and the paycheck protection program, which is under the SBA.

Terra Vicario:

The second area we’re focused on is really to help our clients understand these provisions within these Acts. So they can take advantage of the various tax credits, tax, deferrals and loans. And probably the most important is that Viventium is continuing to develop our software so we can accommodate these laws and simplify the process so clients can focus on taking care of patients and employees.

Terra Vicario:

So what you’re looking at right now is a one page document that we created to try and simplify this with the various provisions under these two acts I just mentioned. And you can see that it’s organized with limits, eligibility and resources to start the process of taking advantage of programs. And we’ve also made available some proprietary technology tools to track various credits and deferral savings. So clients know what has been taken and what opportunities still remain to save money.

Jeanniey Walden:

Great. And I just want to stay on this slide for a few moments. First and foremost, some people have asked if there’ll be getting a copy of this slide. I think it’s fantastic. So yes, you are going to get a copy of the slide. You can take a screenshot picture if you want. But we’ll be sending these slides out after the webinar. And I’m not from the health industry, I’ve been a marketer basically most of my career.

Jeanniey Walden:

And I remember when there were new laws around email marketing and CAN-SPAM a long time ago and it was so critical to have organizations really step up and put together these at a glance documents because they become such a resource for you and your entire team. So this is incredible. I have to say, when you’re looking at the different provisions describing in real world language, at DailyPay we call it weekend language, with the overview is calling out the limits and the eligibility.

Jeanniey Walden:

I really think this is a great resource to everybody that’s on this call and their team members. So I do strongly suggest and encourage everyone that’s attending this webinar when you get the slides to please do share then give Viventium credit for it. They’ve done a tremendous amount of work to to pull this together. And I think it will go a long way for sure to help many businesses and probably even save a few businesses.

Jeanniey Walden:

In addition to this at a glance, you talked about developing our software. What are you talking about with your software when you’re developing it? What developments are you making and how quickly have you been able to respond to the challenges that the pandemic has has introduced?

Terra Vicario:

Yeah, so we think pretty quickly. So the situation is obviously changing rapidly. And so we’ve made some modifications since we do have our own proprietary software which allows us to act pretty quickly when it comes to adding features and functions. So, you’re actually getting sneak peek Jeanniey. You’re the first person to see our dashboard, which we will be releasing soon. At the top, but the COVID-19 dashboard provides an overview of the Families First Coronavirus Response Act, tax credits, real time. We’re going to be making that available shortly.

Terra Vicario:

The other two that you see below are available today, which is the CARES SBS… I’m sorry, SBA average monthly payroll report. And that automatically calculates the sum and average of documented payroll costs, a requirement of the paycheck protection program for businesses who are seeking SBA loans.

Terra Vicario:

And then we also have the uncollected COVID-19 tax credit report, which allows clients to see which available tax credits were not applied against their payroll so they can populate and fax Form 7200 to the IRS. We also have another resource that you’re not seeing on this screen because that’s reserved for our clients and it’s called the Viventium Coronavirus Updates Centers. So we developed a site where clients can access important information regarding compliance updates, webinars, options to go paperless.

Terra Vicario:

There’s a lot of how-tos on the reports that are on this screen. And the site is updated daily and meant to be a one stop shop for everything clients need to know. So upon hearing about these changes, we have an in-house compliance team who’s amazing. I love working with them. And what they’re able to do is really take a look at the laws and then decipher what needs to be done and work hand in hand with our development team who again is amazing and works very rapidly to make sure that we can provide the resources that our clients would need.

Jeanniey Walden:

That’s amazing. And you see, I was blown away by a document that we just shared and now you’ve got a whole site about this, which is super, super exciting. So I think everyone should just become a Viventium client just because of the white glove service that you provide to them. I don’t know what to say at this point but, I feel like I should be asking you questions when I get them from people that we have.

Jeanniey Walden:

And to that note, I mean, you’ve just done such an impressive job at responding immediately and really getting to the heart of the matter about what your clients and what people in the industry need to know, the resources that they need to have access to changes that need to be made, really setting them up for success, which is incredible. So from a DailyPay standpoint, we are so thrilled to be able to call you our partner and very excited to launch this.

Jeanniey Walden:

But I wasn’t really involved in the partnership at the early stages of it and I’m very honored to have been able to work with you so close since then, but tell me a little bit about what had Viventium interested in partnering with DailyPay.

Terra Vicario:

So it’s been great working you guys and initially, the partnership began in an effort to bring more resources to our client base. So we’re always looking at, what do our clients need? And we listen to them. So in the health services market, with turnover being such a major issue, we wanted to provide our clients with another way to help them retain caregivers and employees. Little did we know the timing of the partnership when it would be rolled out would be critical.

Jeanniey Walden:

Absolutely. I mean incredibly, incredibly timely. And from a resource standpoint, I think you talked about it earlier, certainly during the pandemic, everyone’s trying to move as quickly to digital options as they can. But even before that, I think in the home healthcare space and just in the healthcare industry in general, you also mentioned that there’s always a need to hire.

Jeanniey Walden:

There’s always a shortage of employees and from a DailyPay perspective, one of the things that we’ve seen in working with clients that are your clients that we’ve been able to partner on, in addition to other people out there in the industry is, sometimes as simple as being able to say, “Hey, here are the jobs that we have open. And by the way, we’re offering DailyPay.”

Jeanniey Walden:

It can increase the number of inbound resumes and interested in working by as high as 14 or 15%, because people really understand the value of working somewhere that respects their needs to [inaudible 00:34:29] as much as they have that need and manage control. So we do see it as an additional resource and we do see it as something that was an interesting resource prior to COVID, and I was at a benefits event, gosh, sometime late last year and talking to a few people who were walking around saying, “I’m just looking for new and interesting benefits.”

Jeanniey Walden:

Of course we can offer all of our employees medical and dental and vision and we can even do pet insurance. But what are the new benefits, it be student loan repayments, things like that that are really going to make people our employees feel appreciated and feel trusted and DailyPay definitely has consistently stood out to these but post the pandemic, I think where people really value getting access to their money so they can make the decisions on how they manage their lives and the lives of their family has become highlighted and key, not just with DailyPay but you’re seeing hero pay.

Jeanniey Walden:

You’re seeing bonus pay. I saw in the press today that Kroger is advocating to have people identified as frontline workers, emergency and crisis workers. I think other organizations are out there trying to do the best that they can for those employees on the frontlines, like the healthcare industry. So flexible pay I don’t think is going away. I think DailyPay types of benefits is something that’s here to stay. So tell me about a little bit from your perspective, how the need for a flexible pay option kind of evolved for you and how you decided that it was a good partnership opportunity.

Terra Vicario:

Yeah, I mean the COVID-19 situation has definitely highlighted the need to provide financial flexibility for employees more than ever. And that includes improving a client’s ability to pay their people without having to provide a physical check. I mean, the oldest and most tried and true way of getting your pay was always through a payroll check. So we’ve seen increases in direct deposit, of course which has been around for a long time. The use of pay cards, and we anticipate seeing strong use of the program with DailyPay. Which brings me back to a point I made earlier.

Terra Vicario:

So amidst all the chaos an emergency brings, people need options. And like you said, Jeanniey, those little things, they do matter. People may need to grab some money sooner than they anticipated for many reasons. And DailyPay has redefined what payday means because it enables people to access their money as needed. So we felt at Viventium it was important to make this an option for our clients, particularly now. And that’s why we’re so excited to be partnered with your team to deliver this capability.

Jeanniey Walden:

I love that. And I love that you guys are always like hardcore going above and beyond. And on the next slide we’ve got, it’s my favorite slide of this entire webinar, which is something that you’ve done to thank heroes in healthcare for working tirelessly. You’ve got to talk about this slide because it made my heart melt when I saw it when we were getting ready for the webinar and it makes my heart melt every time it comes up. So talk a little bit about what you guys have done with Viventium kids. It’s really cute.

Terra Vicario:

Sure. So I can’t help but smile either when I look at these. So we wanted to find a way really to get our families involved. So as you mentioned, we’re all at home working kids are tele-schooling. And being that we have so many clients that are home care agencies and skilled nursing facilities who are doing such amazing work. We wanted to talk to our kids about that and have them make some thank you notes and send some messages and you can see their creativity running through on this slide.

Terra Vicario:

So we developed a webpage where all of our employees, and we don’t limit it just to our employees, friends can contribute where their kid’s artwork is on the website so that any time our clients can go on if they need a smile or pick me up because we know there’s so much right now that, can take a smile away. So if you could go on and realize that we have a lot of kids here, I mean, I love this.

Terra Vicario:

You see the dragon who is basically knocking out COVID-19, to the heroes run towards it with a super strong guy and captain America down to thanks from the bottom of my heart. So we’re just trying to make sure that all of our clients know how much we appreciate them now and always.

Jeanniey Walden:

I just love that and I think it reminds me of back at 911 and for anyone that’s on this webinar that remembers 911 back then my kids were much younger and there was the need to have a lot of conversation with kids around what was happening. And I think that’s where the term helicopter parents, which I am 100% one of, came from. And I think we all started to be focused on security and really having those conversations with kids who brought up the spirits of so many frontline workers back then. And I see this is a great reminder that that opportunity exists now in a really strong positive way.

Jeanniey Walden:

And you coined the phrase work life blend and I’m bringing that up here because I do think that as we reemerge, we are going to be in this situation where there’s no more work life balance, but it is work life blend. So you get all the kudos and credit personally for coming up with that phrase.

Jeanniey Walden:

And this is an example of it and an opportunity to go back and talk to your kids about what is happening about how people in the healthcare industry, in the supermarket industry, and the janitorial services industry and the transportation industry are really out there on the frontlines, putting their health on the line on a daily basis to keep America strong and healthy and moving forward, and so this seems like such a powerful way to end our conversation about how supporting frontline heroes and healthcare and open it up for questions.

Jeanniey Walden:

So thank you for bringing this and thank you for creating the idea because I think it’s really great. So I’m going to actually take a minute before we go into questions and go just a few slides ahead. To talk about the next webinar that’s coming up, whether you’re in the healthcare industry or not. If you are looking for another webinar, you’re still home.

Jeanniey Walden:

We’re also going to be home on Tuesday, April 28th, DailyPay, our Public Policy VP, Matthew Kopko has been focused really diligently, not necessarily in the healthcare industry but in general on the CARES Act, and what employers need to know along the lines of what you’ve done, looking at resources and insights about how companies and employees can take advantage of this. It’s a piece of our commitment to financial literacy month.

Jeanniey Walden:

And we think that even if you might be an employer or you might be representing an employer on today’s webinar, but you’re also an employee and most likely we’ve been hearing that people in households some people are still working while others have been affected. This is a great guide to understanding your way of what’s available, especially if you’re small business owner as well.

Jeanniey Walden:

I think this gives some great insights. I’ve shared some of this information with my family and friends already, but with that said, I am going to talk about some of the questions that we’ve got because we’ve got about 10 minutes left. And I’m going to take the first one if that’s okay with you, Terra, because it’s a DailyPay question and then we’ll jump in with other questions. But one of the questions that we received was from a company here in New Jersey that says, how does DailyPay know how much money give employees? So that is a great question.

Jeanniey Walden:

And as I mentioned early on in the webinar, our technology integrate with existing payroll software like Viventium seamlessly. It happens very quickly. Our dev guys tell me it can happen in as few as a few hours. Although my support team will kill me for saying that out loud right now, but it does happen seamlessly.

Jeanniey Walden:

There is absolutely no change to payroll and we take information that’s fed into the payroll system from the time management system. So whatever system you’re using to identify how many hours your employees have worked and their rate of earning for those hours, which could include shift differentials over time, tips, everything along those lines.

Jeanniey Walden:

That information is fed into our system as well, our tax withholdings and deductions and deductions could include wage garnishments, child support, tax liens, or just other types of deductions outside of traditional benefits. So we receive all that information. We have our own AI technology called DiA. That’s our dynamic algorithm that will look at how much an employee has earned based on the hours they’ve worked and their rate of pay.

Jeanniey Walden:

We also calculate the deduction that we’ve been shared and look at that. And we make a 100% of the available balance of what the employee has earned through the reporting system, minus their deductions available and accessible to the employee. So DailyPay gets the insight and information directly from the employer that we partner with. So that’s where that comes from. I think that Terra, you received a question and you were sounding a little bit like a robot at the end there, which is why I took the DailyPay question first, but I don’t know if you want to try and answer one of the questions that you’ve received.

Terra Vicario:

Can you hear me? Is this okay?

Jeanniey Walden:

Yeah, You sound perfect. Yes. Yes. Yes.

Terra Vicario:

Okay. I don’t want to sound like a robot, that’s for sure. So we have a question about what if someone doesn’t have a bank account? And that is a pretty common question. We also both partner, which is great, with a pay card option. So NetSpend, where employees can have their pay deposited onto NetSpend pay cards. So you can combine that with a DailyPay option.

Jeanniey Walden:

Yeah, I love that. And we are a card agnostic. So what’s great about DailyPay, because there’s a question here about, what does DailyPay require if somebody is unbanked or if somebody is leveraging a pay card? And really we leave that option up to the employee. When you set up your DailyPay account, you choose what debit card, bank account you want your money to go into. Whether you’re accessing your pay or whether you’re actually putting it away to save.

Jeanniey Walden:

Because one of the features we didn’t talk about today is DailyPay has this savings feature, so that you can save your money before payday. And I think we’ve all been in a boat where we’re thinking, “Yes, when I get my paycheck, I’m going to be able to put X dollars away into my savings account. That’s going to be awesome.” And of course in my case it’s usually one of my kids, somebody gets hurt, goes to the doctor or somebody needs a new pair of shoes.

Jeanniey Walden:

Somebody forgot to tell me about something happening at school and there goes that money before I could even tuck it away to be saved. So since we’re all in that scenario, in so many cases, we built the ability as you earn your money to put money into a DailyPay savings vault, which means, it hides it from your available balance. So in your mind, the money’s just not there anymore and it just sets it aside until payday and then puts it in to whatever savings account again or pay card that you want it to be deposited to.

Jeanniey Walden:

And that’s helped a lot of people just get started with savings because that’s often one of the biggest challenges. So that was a great question. Thanks for asking that one.

Terra Vicario:

Jeanniey

Jeanniey Walden:

Yeah.

Terra Vicario:

We got another one too. Does DailyPay only work with healthcare companies? And so while this webinar was really focused on the home care industry, because we just wanted to be able to provide the insights that both our companies are seeing, they absolutely work with any other companies. So it’s not just a healthcare company that uses DailyPay. Do you want to talk a little bit about some of the other industries that you work with?

Jeanniey Walden:

Yeah, absolutely. And thanks for bringing that up. Yeah. So DailyPay works with every industry. We see a high interest in industries, in supermarkets and healthcare and hospitals in restaurants, quick serve restaurants especially before coronavirus, retail industry is huge. We work with Deco, they’re one of our staffing partners that we work with and it goes across all of the industries.

Jeanniey Walden:

They also work with call centers, janitorial services, hotels, travel companies. I mean, you name it essentially. And we’re working with those types of industries and we absolutely love it because well, every industry is very different and their employee group is different. Whether you’re making an hourly wage or whether you’re making it in the high six figures.

Jeanniey Walden:

I’ve even had people come up from consulting companies and tell me how they’ve used DailyPay because, this one man told me, he’s a consultant at a consulting company and he makes a pretty significant amount of money, but a tree fell in his backyard onto another tree, which caused him to need to have eight trees removed, his backyard completely refinished.

Jeanniey Walden:

And he used all of his money to take care of that unexpected expense which he had. And he had it saved and put away. And then the next day his daughter was at school and fell off the swing set and broke her arm. So there’s always that unexpected opportunity where you need to have funds for something, or in the case of one of our security companies, one of the people that works there was training to be an MMA fighter and he had enough money to take care of all his finances and bills, but he wanted to accelerate his training.

Jeanniey Walden:

So he used DailyPay to see how much money he was earning and then pick up extra shifts, so that he could put money into his MMA training faster so that he could become the next grade MMA fighter that’s out there. And so kudos to every American who’s got unique needs and just wants to have control over their finances and manage it.

Jeanniey Walden:

And kudos to companies like you Viventium, Terra, for creating the technologies and the process to make payroll simple and impactful and seamless and easy and really for everything that you’re doing to go above and beyond especially in this time of crisis for all of your clients. So I think we might have time for one more question if there’s one in there.

Terra Vicario:

I did get a question. How do we find out more information about DailyPay and I have a feeling this could be of Viventium client asking this. So I’m just going to let you know that on our website viventium.com, you can go to the partners drop down, it’s under WHY Viventium and right there you can read a little bit about DailyPay, and there will be a link so you can fill out a form. And if you are a current client, you can also ask your client service representative, but anybody can request to hear more about the Viventium and DailyPay partnership.

Jeanniey Walden:

Fantastic. And that was a great question to end on. So thank you so much Terra for joining us today and I appreciate all the insights and tips. Thank you for the technology enhancements to us. You saw them first here guys. This has been fantastic and looking forward to continuing our great partnership and moving all companies forward, giving them more options and opportunities to take care of their employees.

Terra Vicario:

Thank you, Jeanniey. And we just hope that everybody stays safe.

Jeanniey Walden:

Absolutely. All right everybody, thanks so much. We’ll be sending out a copy of the slides and hope to see you at one of our company’s next webinars. Thank you.