Building a Generational Company

I was fortunate enough to be able to take off the last two weeks of December. This time gave me the space to clear my head, plan for 2020 and reflect on what has been a long but incredibly rewarding year professionally.  

I think the part that stands out most to me about 2019 is how our team at DailyPay began building a generational company. Nobody at this company believes we are building a start-up. Our mission is too important to trivialize it to that. We are building a generational company, one that I expect to be here for decades and decades to come. Importantly, each of us believes that the long-term success of our company has 1000% to do with the success of our people, both personally and professionally.  

In 2019, I am most proud of how we purposefully built generationally, making strategic investments in our people and our employee experience. This was clearly demonstrated through the following events from this past year:

1. DailyPay’s 1st Class of Director Promotions

In March, we named our first class of Directors at DailyPay. So much went into this. The company’s Operating Committee conducted an intensive evaluation process that spanned four months and involved hours and hours of internal and external interviews. There was fierce debate over candidates, forced ranking and, ultimately, we promoted a class of four extremely talented and vetted women and men. In a start-up, it’s so tempting to be expedient.  Promote squeaky wheels, hire externally, hand out promotions like they are participation ribbons. That’s not building generationally. We are building this generational company from scratch. That means laying solid groundwork and culture so that our Associates can earn their promotion to become Managers, who can earn their promotion to become Directors, who can earn their promotion to become Vice Presidents, who can earn their promotion to become C-Suite leaders, and ultimately become the CEO. I want people who will be at DailyPay for 20 years with this being the only job they’ve ever had. Imagine that. More here.

2. DailyPay’s Launch of Employee Resource Groups

In 2019, we launched a number of internal ERGs to support the diversity and professional development of our people. At DailyPay, diversity is our strategic edge. It is not political correctness. It is how we serve our partners and their workforces better. We leverage our diversity to better understand the needs of our customers. Additionally, our ERGs have been one of the best sources of recruiting our top talent. In the United States today, 50% of the children under the age of five are from a minority race or ethnic group. Our ERGs are a strategic investment we made in 2019 to build a generational company that reflects the workforce of tomorrow.

3. DailyPay’s Relief Fund for Victims of the MyPayrollHR Shutdown

In September, the Human Capital Management community was shocked to hear about a massive case of alleged payroll fraud from MyPayrollHR, a payroll and benefits provider. Thousands upon thousands of employees did not receive their paychecks, and hundreds of business owners had payroll funds frozen, causing some businesses to completely fold. At DailyPay, we were deeply moved by this horrific situation. Day in and day out, we see how people across America radically improve their lives by being able to control the timing of their pay through our product, and so the thought of someone not receiving their biweekly paycheck was unacceptable to us. And so we acted. We quickly set up a $25,000 relief fund to support employees across America affected by this fraud. When you build a generational company, you have to stand for something bigger than yourself. I am proud that as a company we do. More here.

Here’s to crushing the ‘20s and continuing to build for generations.

Jason

DailyPay Opens New Office in Minneapolis

This week I had the distinct pleasure of announcing the opening of DailyPay’s new office in Minneapolis, MN, which we anticipate will be fully up-and-running this summer.

Growth at DailyPay

Today our New York headquarters is 100 people strong with plans of doubling by the end of year. Our customer base has grown to over 110 companies, and DailyPay is now partnered with some of the largest employers in the top industries in America.

An image of the DailyPay team in the New York office. We need more space!

We have partnered with best-in-class companies and payroll service providers to offer our service seamlessly—a testament to the industry’s investment and interest in offering instant access to earned income solutions as a broad base solution so that employees everywhere can access their pay on their own schedule.

Looking toward the future and as demand grows, we are putting together strategic initiatives to scale accordingly. Among the first on our list was the opportunity to open a second office.

In selecting the location for its second office, we were looking for a few different things.

First, we looked for a city that would meet the needs and priorities of our partner companies and our user base. It was important to us to make our second home in a city that would allow us to continue making it insanely easy for our partners to pay their employees daily by providing best-in-class service.

We also wanted to ensure that our next location prioritized a culture of innovation driving positive change, like we do. We are proud to consistently help Americans lead more secure financial lives, and are eager to do so in a city that prioritizes the truly transformative potential of technology.

Finally, it was important to us to be a part of a thriving and robust group of talented peers. We deeply value the opportunity to be surrounded by curious, driven individuals and companies.

Minneapolis very quickly rose to the top of our list as a city that has all of these characteristics.

DailyPay is expanding to two offices - one in New York City and one in Minneapolis.

Talent, Culture, and Values in Minneapolis

The city is home to several of our largest partner companies, and a presence and the ability to service our customers is key to our second office.

Minneapolis also stood out to the team as a city that prioritizes and values companies/technologies that focus on solving problems that help people. The emerging workforce’s interest in innovation, technology and entrepreneurship was also a key driver for DailyPay’s decision to open in Minneapolis.

The city seems to truly represent the value and mission-driven environment that DailyPay prioritizes every day. The city is filled with companies that drive innovation in businesses, positively impact people and solve important problems.

Minneapolis has also quickly become one of the country’s top cities for entrepreneurs and startups. According to Business.org, the city ranks 3rd in the nation for entrepreneurs looking to launch a startup, and its startup growth is the highest across all the top 10 cities at more than 120%.

We are excited to join a city that is rich with highly-educated, young talent stemming from strong university programs out of the Midwest as well as the number of Fortune 50 companies that call Minneapolis home.  

We look forward to joining the ranks of excellent employers bringing jobs to Minneapolis. Our new office in Minneapolis will eventually be the home of 100 new employees who are focused on payment services and customer support.

Looking forward, we are making a significant effort to invest in leadership and talent at the Minneapolis location. There is an undeniable energy in the startup culture of Minneapolis, and DailyPay is eager to join the forefront of the city’s evolution.

The DailyPay team joins the team from the Minnesota Department of Employment and Economic Development (DEED) at an event in Minneapolis.(photo credit: Steve Grove via @grove on Twitter)

We are excited to start this new chapter in our company’s history, and are thankful for the warm welcome we’ve received from the entire tech community in Minneapolis. We look forward to building this community and ecosystem further together.


Want to join the growing DailyPay team in New York or Minneapolis?

Email jeanniey.mullen@dailypay.com or visit our careers page.

Introducing the DailyPay Directors Class of 2019!

At DailyPay, we feel incredibly lucky to have the opportunity to create an invaluable impact on the financial health of our clients’ lives. It is this mission that drives us to improve day after day. While the entire team shares this ethos, this year, we would like to recognize a few individuals who have worked tirelessly to become exceptional leaders, driving DailyPay forward into the new era.

Continue reading “Introducing the DailyPay Directors Class of 2019!”