A Motivated Workforce: The Key To Success for Holiday 2020

Webinar Series

A Motivated Workforce: The Key To Success for Holiday 2020

Webinar Series

A Motivated Workforce: The Key To Success for Holiday 2020

In this webinar you will learn about…

  • What unprecedented challenges are retail workers facing this holiday season – and what are their employers doing to keep them safe, motivated, and productive
  • Insightful research into what consumers are saying about spending plans and safety this holiday season
  • How can a new pay experience help employees get through these challenging times

This will be a pivotal holiday season for so many retailers following an extremely difficult last six months. To win back customers who have been reticent to spend during the global pandemic, retailers will need a fully engaged and motivated staff who are mindful of the new challenges confronting them. In-store safety will be top of mind for both consumers and employees like never before. 

Employees will be under tremendous pressure to drive sales, keep customers safe, and follow rigid health protocols – all with the backdrop of high unemployment and a potential second wave of the global pandemic.

To support their staff, retailers will be looking to offer meaningful and impactful benefits that will help ease the stresses of their valued workers. 

Many top companies including OSL, Dollar Tree, Kroger, and Tractor Supply,  have found success in motivating and retaining employees by offering a dynamic pay experience – a no-cost solution that is improving the financial health of employees. Research shows that 1 in 6 chose their current employment because an on-demand pay benefit was offered. Because now, more than ever, financial flexibility and the peace of mind it brings are critical in keeping employees motivated and ready to spread cheer this holiday season.

Join us for this dynamic discussion about the importance of your employees during this holiday season unlike any other. 

View On-Demand

Guest Speakers

Jeanniey Walden

Chief Innovation & Marketing Officer

DailyPay

Cynthia Reale

Vice President Human Resources

North America, OSL

Andrew Gaffney

President/Founder

Retail Touchpoints

Webinar Transcript

Andrew Gaffney (AG):

Hello, everyone. Welcome to today’s session. My name is Andrew Andrew Gaffney, I’m the Editorial Director with Retail TouchPoints we’re really glad you could join us today. Arguably we’ve already started the holiday season, when you go out and you visit stores you can see that the decorations have changed, a lot of the promotions have already started. Today, we’re going to be discussing a motivated workforce, we’re going to be looking at the keys to success for Holiday 2020 in terms of recruiting, motivating your in-store staff, your on-site staff. A couple housekeeping items before we started with the session. We want to make sure it’s as interactive as possible. You can type in any questions you have for our presenters, you can as we’re talking.

AG:

The session will last for about 30 or 40 minutes, but we’re going to save time at the end for Q&A. So go ahead and type them into the Q&A Dashboard, if we don’t get to all your questions we’ll come back and ask our speakers to followup with you directly. There’s also a couple of recommended related resources that you can download as you are researching this top and read for follow-on. And then you can monitor social media also on the left side of the panel as well. One of the frequently asked questions we get, the session is being recorded so you can go back and review the content or share it with your peers. If you’re following us on social media, we ask that you use hashtag #motivatedworkforce. Our team at Retail TouchPoints will be monitoring that hashtag, we’ll be responding to any questions or comments.

AG:

You can share some of the stats that we’ll be sharing today, also any comments that you have. Also, the handles for some of our presenters today, you’ll see it our share it on this slide if you want to include that in anything you post as well. Today’s session is being presented by Retail TouchPoints. If you’re not already a subscriber, we recommend that you take advantage of the great content that we provide. It’s complimentary to folks in the retail industry, you can take advantage of it at retailtouchpoints.com. Also, follow some of our conversations we have on our social media groups, on LinkedIn and Twitter including our Store Ops group, which has some great conversations going on. So let me and tell you about speakers.

AG:

We got a great pair of folks that are going to be helping me walk through this topic. I’ve had the good fortune of working closely with Jeanniey Walden over the years. Jeanniey is an award-winning entrepreneurial CMO, who uses innovation to transform the way companies work to accelerate growth and brand impact. Currently, she is the CMO of DailyPay and transforming employee payday. Throughout her career, Jeanniey has lead global-marketing and growth for Fortune 1000 companies including, Mercer, Ogilvy, Barnes & Noble and JC Penny. As well as, industry-transforming startups including, Zennio, RebelMouse and RingBlingz. So we’re excited to have Jeanniey join us today. We’ll also be joined by Cynthia Reale, who is the Vice President of Human Resources for OSL, OSL Retail Services.

AG:

OSL partners with Fortune 500 retailers and manufacturers to develop existing sales functions or replace existing sales functions. She’ll be sharing how she worked with a major retail partner. In her role, she leads North American HR team reinforcing strong company culture, creating leading large scale employee engagement and development programs that support the achievement of our sales, business and goals and objectives. Cynthia has over 25 years of HR management experience, with 15 years of leadership roles with companies like AON, ADP Canada. She has extensive experience in evaluating and improving process and efficiencies through technology. Her areas of expertise include leading enterprise wide HR projects such as influencing managers driving organizational incentives, cost benefit and compensation analysis.

AG:

She’s going to be sharing some great research and case studies in terms of how they’ve implemented some innovative pay structures for their team. So let me just quickly recap what we’re planning to do today. We’re going to look at some of the challenges that retail organizations are facing in terms of managing retail workers are facing especially this holiday season, as we all know, it’s a unique times that we’re going through. So how is that going to impact employers? What are they doing to keep their employees safe, motivated and productive during this holiday season? And obviously, we’ve got Cynthia is going to be sharing some firsthand experience and knowledge of her organizations during that and how they’ve been doing that throughout the entire pandemic in terms of staffing and some of the other challenges related to that.

AG:

We’re going to look specifically at how pay experience can help employees get through these challenging times and prepare for specifically this holiday season that’s upon us. So with that in mind, I wanted to start off by looking at some data. Obviously again, these are different times, it’s not a thing retailers or businesses have really approached before so we want to share some data in terms of the financial impact that COVID and the pandemic has had on consumers. So what we’re sharing, this is a Harris Poll that was done on behalf of DailyPay and it’s looking at some of the impact that people are feeling out there. And I think some of the political rhetoric that gets mentioned sometimes this is overlooked, but I think it’s really important to start out by realizing what this impacts on your employee base as well as your consumer base.

AG:

So some of the stats here Jeanniey, I want to ask for you to because I know you’re involved in this, but I wanted to ask you to dive in a little bit further with me. But seven out of 10 hourly working Americans are struggling to make ends meet. 47% will seek extra hours during seasonal time. More than half Americans are starting to feel hopeful that the economy will start to improve, so there are some positive signs. Nearly half will spend the same amount of time in store as they did last holiday season. So while Digital’s clearly taking over, the store experiences is going to be still fundamental this season. And then 28% said they’ll spend more online than they did last year so dealing with that omni channel factors is I know something Cynthia is going to talk about. But Jeanniey, you were involved in creating this study, I wanted to ask if you could expand on it a bit. What surprised you about it? What do you think retail executives should have in mind as they consider this kind of data?

Jeanniey Walden (JW):

Sure, yeah. Thanks. I was surprised by the optimism that the Americans have about the economy and the fact that they’re intending to still spend so much time in store. I would have thought given all of the COVID concerns and certainly given the rise that we’re seeing across the board in many states, that people would be looking for mainly an online experience. So looking at the interest in going in store and having that omni channel experience was interesting to me. I found it enlightening, I think it leads to some hope. We speak with a lot of retailers, we work with a lot of retailers and it’s really something that they need to pay attention to because it will change the dynamic for the store staff that they have.

JW:

I was recently speaking with one retailer who was saying that they have started to call back people that worked with them last holiday season not to work the floor because they’re not expecting as many people to be in store, but to work almost as a safety and security at the front door. As counters to make sure that they’re maintaining the right balance of in store traffic, focusing on safety, cleanliness of the stores when people come inside. So I thought that was interesting that there were still just as many job opportunities for holiday and probably even more because these same retailers also told us they were hiring up like crazy for the expected online volume and that online volume, as you said, is starting now. So I think that’s really [inaudible 00:07:39].

AG:

Clearly there’s a need for agility, a lot more creative fulfillment operations that are needing to be staffed up to so the store is serving multiple purposes as well.

JW:

Yeah, absolutely. Now-

AG:

The other reality which you know really well Jeanniey and we’re going to talk about is the challenges now for the worker. But this whole movement has started around on demand pay and impact that it could have on holiday shopping. So when you look at this with a Harris survey, 45% are looking for on demand pay benefits. One in five were looking to better manage their holiday spend. One in six were looking for the ability to…. So a real drive for this kind of thing, and I know we previewed this with Cynthia and she’s got some great stats and findings that we’re going to share with what OSL is doing, but this is interesting to me just what it looks like on an economic level.

JW:

Oh, 1,000%. I was surprised to see how many people were so optimistic about in store and planning to go in store. I wasn’t surprised by the number of people who were struggling, I wasn’t surprised by the percentage of people looking for that second job, but the thing that struck me most out of this entire study was the reliance on the employer. And the fact and I don’t think stat is on the slides, but it’s 47% of people who took this poll are turning to their employer to look for advice on better financial management and some sense of financial relief over the holidays so that they can avoid taking a second job. And that then turns into offering things like on demand pay, holiday bonuses, increasing the hourly minimum during the holidays.

JW:

But really the revelation that I see is since COVID, the employee has started to really see the employer as the leader in supporting their financial wellness. Therefore, almost half of the people are expecting their employers to offer them access to their money as they make it. They want that choice and control on how they’re going to manage their own personal situation to get through the holidays. And that I think is a fantastic opportunity for every employer out there as well as huge sense of relief and [inaudible 00:09:53] from the employees.

AG:

Yeah, it really crystallized for me when I got to hear Cynthia’s background and story about how they’ve done it at OSL so I’m really anxious to share some of that. So let’s shift. Cynthia, let me welcome you. I really appreciate you joining us. We heard some of the background and the research from what Jeanniey shared. Can you share with the audience has some backdrop on how you’ve utilized DailyPay and what this meant to your organization? I think if you wouldn’t mind start… Some of the folks may not be aware of OSL and the scope of what you do, some of the partners that you work with, the number of stores that you represent. Would you mind sharing that as a backdrop so folks can get educated?

Cynthia:

Yeah, absolutely. Thanks for inviting me in here to share our story. So OSL, we’re a Canadian company so I’m calling in from Toronto, but we’re a Canadian company and we moved to the U.S in 2017. Very small 100 employee type out organization. So we’re a sales organization, we sell mobile services in Walmart stores. But since 2017 now we’re here in 2020 and we have 3,000 employees, over 44 states and in 400 different stores. So the success and the growth has been amazing. I joined OSL this year in January and had plans to increase services to employees and quickly looked for an on demand type service went out to RFP, selected DailyPay and just before we were about to start, we signed the paperwork for ready to go then COVID came about and we’re out in the retail area.

Cynthia:

And so we had to make a decision, I remember thinking is this the right time to go out with a new system when we don’t know what we’re dealing with? We’re still trying to figure out our footings and speak to employees and stuff, but the more and more I thought about it was at the exact time that we should have went out with this because employees were having problems getting access to the funds, they had new expenses that they’d never seen before. So we just turned all engines go and went live with DailyPay. So we decided in February, so positioned everything and we were already live by April. And that includes a huge announcement to employees to get that message out to 1,200 employees, you can imagine. We spent weeks just planning for that, but when it went live and the day that it went live, by noon we had 900 employees already registered for DailyPay.

Cynthia:

So we knew that this is what they needed, we had heard that they wanted something like this, we were able to implement it as quickly as possible in the middle of a pandemic. And so it was satisfying to know that we were able to do it and do it when it was needed most and it’s never turned… It’s a great story, it’s never gotten any better. We have 63% of our employees are using it on a regular basis and the feedback that we get is always positive. Because we hear real life stories of how it’s improved their situation, their financial access and just being able to address those things that come up in the middle of everyday life and everyday life is different for us all now. It’s been a huge positive experience for everybody.

AG:

That’s awesome. I want to I want to go further into it. Jeanniey, let me ask you to come back in. Some of the points Cynthia made about when the pandemic kit I’m sure a lot of executives had that moment of okay well, it’s now the time to do some things transformational or should we hold off? So Jeanniey, are you hearing that from other executives across the board? And what are the takeaways you’ve learned from others like Cynthia that I’ve realized that it probably is more so the time than ever?

JW:

Yeah, absolutely. I think generally at DailyPay we started to see a huge influx of calls from companies that were considering or had just decided to move forward with us asking us to accelerate the launch because I think employers really saw a need for their employees to have access to funds. Nobody knew what was going to happen at the beginning of this pandemic and we all saw that stockpiling rush where every one of us were running out to try and stock up on masks or diapers or medicine or food because nobody knew what was going to happen. So this is a fairly quick, low cost way for every company to help safeguard their employees, but also as [inaudible 00:14:58] continued and we started to see the effects of just the entire household.

JW:

Either suffering from furloughs, doubled [inaudible 00:15:10] employment or other challenges from a financial standpoint. On demand pay and DailyPay became also a lifesaver for the entire household [inaudible 00:15:20] and even now as well as back to the normal and move in into this holiday season, it really is as Cynthia, a totally different experience for every single person at the company. Therefore, there are a lot of things that you can put on the table and we’ve seen some other phenomenal ways employers have been helping their employees with zero cost loans, waiting for unemployment checks to come in early on in the pandemic.

JW:

But it’s really a very personal situation so to be able to give your employees something they have access to, that is a very personal [inaudible 00:15:57] matter it really gives a lot of [inaudible 00:16:00] value to the employer. And I think it’s helped in many cases as employers are now restaffing and bringing people back to work work. So it’s exciting for us, we really be able to help companies make it through and to grow as well.

AG:

Great. Let’s get back in I want to dive a little bit deeper into some of the examples that Cynthia was sharing, so we shared a little bit on who is who OSL is. And in fact, they’re working with Walmart, and the fact that they’ve scaled up so quickly. Can you talk a little bit Cynthia about how you guys engage employees? I know, in the pre-call we talked that a lot of your employees are millennials, talk a little bit about the way you rolled out the program, how it was communicated? Anything both pre COVID and into the holiday season?

Cynthia:

Yeah, so OSL is not corporate and so we need to make sure that when we’re rolling something out, that there’s a good story to it and that we’re speaking to the employees and the vast majority of our employees are millennials. So we increased the awareness of DailyPay through lots of menus and we talked to them, we were talking to employees on a regular basis, the HR team themselves, but then we decided we’re going to make a video and I remember thinking is this a little corny? Or should we do this? Luckily, we have a great marketing team that helped us. And so we went out with a video and employees wanted to be part of the video and we just had fun with it.

Cynthia:

Because again, we were looking for some stuff to just change the dynamic in the conversation in the middle of what everybody was dealing with. So we had a video, we went out and publicize it to everybody and again, the millennials gravitated to it because it spoke to them. It talked about you’re in control of your own time and the access to funds and I will tell you one of the byproducts from this is our time cards have never been more accurate. Employees connected the dots that if I clock in and clock out correctly, my balance to daily fund automatically goes up. And so as much as we were offering them a service that that would have give them access to the funds, the bonus part for us was our time sheets just became much more accurate.

Cynthia:

Which allowed us to have better analytics and access to understanding who was in store and who wasn’t in store. So that was a bonus that we got out of it, but like I said, when we rolled it out we just decided to have a bit of fun and we made sure that everybody knew about it, we took the time to communicate it. And we thought what better way for OSL to announce it to employees than to go out with a rock video, so we did that as well and it was great.

AG:

That’s awesome. It’s really fun. So I wanted to ask both of you as we this is a different time for the holidays and obviously staffing up for the holidays is a challenge. Is this something that you look at Cynthia as a way potentially as an extra recruiting lever or do you see it more as a retention mechanism as you look to the unique challenges of staffing up for the holidays?

Cynthia:

It’s all that, it’s all that. So we onboard three to 500 employees a month, believe it or not and we have an onboarding process where we talk to new employees within the first 30 days. Many of them right from the get go know about DailyPay, right from the recruitment part of it and a lot of the comments back is, “I’ve been out of work for a while, I don’t have any extra cash available to me and DailyPay has allowed me to put gas in the car to get to work, to buy the new shoes to go to work.” I mean, those are real life situations that we hear, so that’s made a huge difference with the onboarding part of it. And also, we are always looking at the retention of our associates and if I look back from January to now, that also has improved. So those two matrix tell me that it is making an impact and a positive one for sure.

AG:

Awesome. Jeanniey, is that consistent with what you’re hearing across other businesses? How are you hearing that hiring, onboarding is going to look different this season?

JW:

Yeah, I will answer that, but before I answer that I just want to say to Cynthia, do you know that video that you made is my favorite video on the entire planet. I’m hoping that we can link to it or share it because if you want to be inspired about how to get your employees excited about something, you have got to see this video. I personally play at least once a week for my team in a different reference [inaudible 00:21:04] to get to the next level. So I just love that and I love the fact that we’ve seen time clock from clients because that is just one of the hidden benefits from DailyPay I guess. but we’re hearing everything that you said about recruiting and onboarding, and how it’s going to be different and then some…

JW:

I love the fact that with DailyPay you can start having access to your earned income as soon as you make it, as soon as that time clock thing clock out and the files are uploaded. So for many people that is huge really because what we hear from the restaurant and retail players that we work with and even in other industries, a lot of new hires are either new to the job market, it is their very first job. And they don’t realize that sometimes they miss that first pay cycle and traditionally then have to wait two maybe three weeks to get that first paycheck. Or this is a second job, or they’re switching because they needed more income and they’re upgrading to a higher salary group so the money and the access to it is very important to them.

JW:

But we’ve also seen that in part that it’s made a lot of employers find an easier time at getting people to come back to work because last season they were using DailyPay, this season they can come back and still have access immediately with DailyPay which is fantastic. The other thing that we’re hearing is relating to time clock compliance. We’re hearing that it’s very easy for the two managers or the store managers to recruit for extra hours when they have fill those open shifts, or somebody called out or decided to take the day off. Because now based on the time management system that they’re using they can say, “Good job, can you pick up these extra three hours or this additional shift.”

JW:

They can [inaudible 00:23:05] DailyPay under an extra [inaudible 00:23:07] so you can piece it together on not just your helping the company fill the spot, but it’s getting monetized for you in this way. And that’s where we [inaudible 00:23:16] great from employees, we’re hearing that they’re thrilled to come back, thrilled to work and it’s really just [inaudible 00:23:19].

AG:

Awesome. So Cynthia, this is really cool that you guys have already done some surveys of employees and gotten direct feedback. And I wondered if you could share and kind of walk us through what some of those results you heard back?

Cynthia:

Yeah. Again, so even though we went live in April and we knew that the impacts were positive, we decided to declare September’s financial awareness month. And so we went out and promoted the fact that through DailyPay employees can put some money aside and open up a savings account. So we did that and again, just to let them know that the facility or the ability through DailyPay is there, but through that we ask them questions like has this made a difference? Do you think it’s worth the money? Are you finding the benefits that we thought you were getting? And again, the results were great. And one of the interesting questions in there was I’m not going to say it exactly the right way from the survey, but it said something like has your opinion of OSL improved since we’ve implemented DailyPay?

Cynthia:

And 97% of the employee said yes. And again those were unsolicited… We solicited them, but it was real information coming back from associates so that was great. And even in those surveys, Jeanniey you talked about how the family is impacted by COVID. A lot of the comments that we heard back from employees were heartwarming, like some people saying I’m helping my mom who was affected by COVID. I’m paying, I’m using this to pay my brother’s textbooks when he went back to school because he didn’t have a summer job. So some of those stories, you know what? You realize it’s more than just having cash at hand, people are using it to really help out others. Whether it be family or even co workers, I’ve seen a few comments where it was like I helped out a co-worker and took an advance to help them.

Cynthia:

So there’s just so many positive things that come out of that and like I said, I hear about it every day when I’m talking to individuals. But the survey results just magnified and brought forward some of those things that we thought were true and they just provided us some real good data from that. We know that it’s making a difference for our OSL employees.

AG:

Absolutely. So this is awesome. Jeanniey, this seems like it would exceed expectations, are you finding other customers are conducting these kind of surveys and does some of the positive ripple effects exceed even the goals they started out with?

JW:

1,000%. In conversations that we have I say all the time, I have never had a job where I could [inaudible 00:26:28] and say call any company that we’re working with and ask them any question that you want and not be concerned that they might have a bad experience or a negative experience. We see these types of results and beyond from every single company that we’ve worked with. It’s really life changing and it’s nothing magical that DailyPay does necessarily, it’s just the ability of providing your employee with choice and control over their funds and as Cynthia said it [inaudible 00:26:58]. People have very specific reasons why they need the money, it could be for a brother, a mother, it could be for themselves, it could be [inaudible 00:27:06] have a baby.

JW:

And for employers to really just care about their employees enough to be able to make this available to them says a lot about the employer and it shows in every survey that’s done. And we actually encourage all of our clients to do surveys with their employees at various stages of the rollout. We’re always interested in how we can improve and how we can update the product and even offer more, but it’s truly heartwarming to be able to see these stories, it gives you a true appreciation for the job that you do as an organization everyday. And while you’re trying to serve customers and make money and make the profit margins at the end of the day, you’re always going to need your employee base so if take [inaudible 00:27:50] and good care of them then they will take incredibly good care of you and your customers.

Cynthia:

Absolutely.

AG:

Yeah, that’s awesome. So I think Cynthia, the other thing I was going to ask you about was utilization, but this stat pretty much says it all. Were you shocked at how high the utilization or the the interest rate was when you rolled it out?

Cynthia:

I was. I also wanted to give a big shout out to the DailyPay team when it comes to implementing this system because as much as we made the decision to move forward, the transition or the implementation was so easy. The team was brilliant, they made sure that everything was done on time and I’m going to say and I’ve been implementing systems for years, this system from front to back took us no more than probably a month and I’m including all the communication and stuff. So when we went live like I said, in the first few hours we had 900 employees registered. And I thought, “Wow! That’s amazing. Can’t get better than that?” And then it just kept getting better and better.

Cynthia:

So the adoption rate was shocking for me because you always think you roll out something and you think, “I hope everyone’s going to like it and is going to use it.” And then like I said, within hours they were already gravitating to it and it’s never changed since then. So I’m not shocked anymore, but I was shocked when we went live and like I said, if anybody’s thinking about implementing it don’t think of this as some big onerous implementation process. It’s directed by the DailyPay team, but it’s very easy to implement and like I said, the adoption rate just shot up as soon as it was available, we didn’t have to do anything else. It was out of the bag, everybody knew about it.

AG:

Jeanniey is that consistent with what you see with other clients? That’s a huge number there, how high are adoption rates typically?

JW:

Yeah. This is more of a referral rate than her adoption rate, I wish your adoption rate was at 97.5%. I wish everyone’s was. So we’re not quite at 97.5% adoption rate for everybody, but with Cynthia side I think at her 65% adoption rate is on the higher end of average. So it is fantastic. Personally at DailyPay when we talk about the product, we want the product to be used by 100% of employees. If you don’t need it to take care of an unexpected financial issue for yourself and you don’t need it for family members, we’ve actually started to see people using it proactively. We’ve gotten videos and thank you letters from employees of different companies saying, “I wanted to buy a house and my credit score was not great so I use DailyPay to pay down my high interest credit cards earlier so my balances will be lower so my debt ratio would be lower, so my credit score would go up”.

JW:

And we’ve had other people in pretty senior roles say that they’ve taken money out to invest in the stock market. I don’t know about the day trading piece of it, if I could figure out how to do that. I wouldn’t be on this call, but other people have and I think it’s fantastic that people just enjoy the flexibility that they have. And it’s really a lot of fun to hear those stories and truly that’s when we look at product improvements. What are the stories that we’re hearing? How can we make it easier? How can we make it better? But thank you Cynthia for talking about the implementation team because they strive to make it as seamless as possible with the highest level of white glove attention to give you full service soup to nuts and we really don’t want to have to do anything other than be pleasantly surprised with the results.

Cynthia:

Yeah, absolutely.

AG:

So flexibility and access are key elements, especially this sort of gig economy. So Cynthia I wanted to ask you, we talked here a little bit about a lot of your employees are millennials, how did you address their unique behavioral aspects? Did you communicate more on mobile? Did you do anything else? You mentioned the video which seems like a really smart idea, but any other recommendations you’d have for other retailers that really work with a lot of millennial employee base?

Cynthia:

So we do a lot of our communication through mobile, our service is selling mobile services. So daily communication through mobile, but what I also think was key to it is we didn’t just go one route to communicate it. We did it through team calls, we did it on our employee web page, we went and we pushed notifications out, we did email campaigns. So we really use the time before we went live to make sure that everybody knew about it and we put it in lots of places because sometimes not everybody’s looking in the same spot. But we also implemented it right from the get go like we were talking about at recruitment, right through to a new hire. So they hear about it during recruitment, they are introduced to it as a new hire, we do a follow up after 30 days, DailyPay is one of those things that we follow up with them on.

Cynthia:

So I think it’s a lot of ways of getting the information out and just trying to make sure that it’s there and it’s easily accessible so people understand what is there. So our HR employee landing page has the DailyPay icon, employees can hit it and it automatically takes them to not to our video, but to a video for DailyPay that explains the product. And we watched the clicks on that and it happens very often, employees whether a new employee or somebody that hasn’t heard about it and heard through a friend and wanted to go out. So we just make sure that we communicate it as many different places as possible. And it seemed to work is everybody knows about it and like I said, the word of mouth as well as great.

AG:

That’s awesome. Jeanniey, is that kind of the blueprint that you recommend other clients? I mean, this should be communicated in the onboarding processes? Should it be a retention tool as well? How are you recommending the communication happen?

JW:

Yeah, from cradle to grave. I think starting when you’re looking to hire new people or increase your staff, putting it in there because so many employees and millions of employees are using DailyPay. So when they’re looking for new jobs, we found that most of them, over 80% of them, will look for another job that offers DailyPay, so they’re very familiar with that. So it does help with recruiting into the onboarding process and then all the way through from a retention standpoint even through the transition. When a company leaves we are able to facilitate that final pay checks through DailyPay so that you don’t have to worry about timing or paying any of the fines if we can’t get that final check out to people which is fantastic. And it tends to leave a really great last conversation in people’s minds, the last thing that they remember is when they left the company they got their final paycheck very quickly so it leaves a good impression for the employer.

AG:

I wanted to get both your thoughts on this, Cynthia let me start with you. But communication, we talked about how you communicated this DailyPay program, but as we look at COVID, as we’re looking at during the holiday season, how is communication ramped up in general? Are you trying to communicate more about safety issues? About flexibility? Talk a little bit if you can about what communication looks like in this time?

Cynthia:

Yeah. So communication, I just want to remind you that our employees are not in one spot, we have 3,000 employees in 14 stores over 44 states. So communicating to them it can be challenging. We rely on lots of mediums, so we have again like I said, the mobile shout outs to employees, we have our internal systems that employees can go into. So communication is always a challenge, but this year in particular with COVID, it’s been even more challenging. So as much as we are good at sending information out through different mediums, I’m just telling you about a lot of what we found is if you can have a meeting, and it can be a meeting like this Zoom call and get the message out, people want to see people.

Cynthia:

And as much as I get a message that’s great and I can read it, but we’re also finding that Zoom calls are making a huge difference. Because our employees maybe don’t see one another or see their co-workers that often because we’re spread out all over the United States. So I would say that we have been pretty creative this year more than ever to make sure that we stay connected with employee. So we’re throwing anything and everything at it and I and I’m always a strong believer that no matter how much you communicate, it’s never enough. And so when I test myself and say, “Man, have I talked about DailyPay enough?” I just keep talking about it because I do think that there’s somebody that didn’t hear it or wasn’t around to hear it and there’s always an opportunity to communicate the message out again. So I probably over communicate.

AG:

That’s great. Jeanniey is that what you’re finding again, with other businesses that you’re talking to given to where we are in the COVID and the holiday season, those two things combined? Are you finding communication to be a top priority for the executives you’re talking to?

JW:

Absolutely, I think over communicate `it is probably the number one tip that people talking about, especially when it comes to employees and safety is a primary concern, as well as focusing on access. So if you look at personal safety, also looking at financial security the communication through all the channels that [inaudible 00:38:20] you’re employee base is really incredible. And Cynthia and her team have done such an amazing job of mastering that communication and getting the team’s to be very engaged and excited about what the company has to say. It’s really probably has been the blueprint for all of us to follow. It’s fantastic.

AG:

So I want to get into questions, we’ve got a bunch coming in already. I’ll remind everybody to type in questions. We’ve got some good ones for Cynthia already. Quick reminder that some assets in the resource center that you should take advantage of that are related to this and this is an ebook that we partner with DailyPay on the talks about this topic. This has been downloaded a ton of times, we recommend you check this out or share with your team. So without that, let’s shift into questions. So, Cynthia, I think this one’s for you to start. It’s from Marie, she asks, “What challenges did you face having employees in two countries?”

Cynthia:

Interesting. Well, I don’t know if I would say challenges, are we talking specifically on demand or just challenges in general? The U.S and Canada are completely different… Let me let me backtrack. We have the same amount of employees in Canada as we do in the U.S so 3,000, 3,000 6000 altogether. Spread out over multiple provinces, spread out over 44 different states. So as far as differences we’re the same when it comes to the makeup, we’re dispersed all over the place and that the type of business that we’re doing is the same as well. So the differences really comes down to we’re talking to different countries, but if we’re talking specifically about DailyPay, there is nothing like this in Canada. And that is something that when we went live with the U.S employee base, the Canadians kind of looked over the fence and said, “What about us?” And I said, as soon as we have it, it will be coming. So they quickly understood what that was and then said, “We need it too.” So I guess that was probably the only challenge, it’s sort of like giving it to one and not giving it to the other. But we’ll we’ll get there, we’re focused on providing that to Canada eventually.

AG:

Jeanniey, is that something you hear from other clients? Are they able to roll this out in other regions across the globe or is there the desire to do so?

JW:

Yeah it’s different for every employer and a lot of the companies that we work with, pretty much have staff primarily in the U.S. But, Cynthia I might actually have a solution for you. So I’ll connect with you after this, but it is an interest and the topic of on demand pay is becoming very quickly, very rapidly a global demand.

AG:

Great. Specific question for you Cynthia from Vicki. She asked, “Did your payroll provider provide something like on demand pay? And did you consider other options like that?”

Cynthia:

They did. We’re with ADP and they have a marketplace so we went out and looked at DailyPay as a partner of ADP. When you go out to look at a system, I’m a strong believer that you’ve got to have a few options out there to make sure that you’ve got the right data to make the right decision. So we did go and look at other providers, but the one thing that I… There was many things, but one thing in particular that I liked about the DailyPay one is it didn’t impact the payroll department. It didn’t impact the gross to net, it’s totally done inside of the payroll department and I didn’t want to change what they do. And so that’s the compelling reason, on top of other things, but that was one of the things that I wanted to make sure that our payroll department was not going to be the gatekeeper of who had an advance, who didn’t have an advance. It doesn’t impact them at all and they love the fact that it is because payroll is a tough job in the first place. And so that was one of the reasons why we selected DailyPay, is no impact on the payroll department.

AG:

Great. Question for you Jeanniey from Don, “Does DailyPay off for financial wellness other than on demand pay?”

JW:

That’s a good question. Yeah, absolutely we are focused, like I said, on providing something that every employee in a company can use. So in addition to the pay product the first and most basic product that we have is called track. And that’s really the ability to open up the DailyPay App and see how much money you’ve earned so far this pay period. And if you’re not in an hourly job, you might not realize that when pay roll for example, cuts off on a Tuesday, but you don’t get that paycheck until the Friday or the following Friday. It is very easy with shift differentials and overtime to lose track of how much money you’ve actually made to determine if it’s enough to take care of the financial obligations you have.

JW:

So track gives you the ability very easily to see on a glance how much money you’ve earned, how many days until payday. And the hidden feature with that, that I love is on pay day, because it is most likely a few days after pay roll has stopped and run you get your paycheck. But if you find on payday you’re short a bill, chances are you’ve worked enough hours already in the new pay period that you can use DailyPay to make sure that you take care of all your obligations which is awesome. But the second feature outside of pay, the third feature that we have is the ability to save and that’s really where a lot of our attention focuses. We provide employees three ways to save.

JW:

You can set up automatic savings, as soon as you earn $50 put it into a savings account. So even if you’re tempted to go onto the daily path and take money out early to take care of non-essential bills, you might have seen a pair of shoes or something you’ve already saved that $50 so you’re starting on the path to saving. We also have the ability to do an on demand saving, so maybe you worked an extra shift, you got paid overtime you have extra money you can tuck it away before your paycheck arrives. Or finally if you’re not saving at all, we do encourage people to use the savings feature when they’re taking out money. Every time somebody uses DailyPay to make a transfer, there’s the ability to start saving, it’s called round up save.

JW:

And if you’re $18.12 to pay the electric bill that you forgot about, we’re going to suggest that you take out $20 and put that difference into a savings account just to get into the habit and build those great habits. So those are three of the tools that we have for employees, but we also on the employer side have the ability to help with recruiting and then we have our cycle product which gives employers the ability to do off cycle payments, transition payments, [inaudible 00:45:50] and other payments on demand without needing to be in the office. And certainly as we move to that contractors world, being able to support personnel safety efforts by doing that. It goes a long way and [inaudible 00:46:03].

AG:

Awesome. Another question for you, Cynthia, from Colleen, “Do you get a lot of questions from employees asking about their DailyPay account and how does your team handle that?”

Cynthia:

Yeah, absolutely. We do. I don’t know if it’s a lot of questions, but we do get questions from employees, sometimes they… I’m trying to think of what some of the questions are, but we do get them. My team is comfortable enough to answer, if has something to do with the pay themselves they can help confirm the hours that the employee worked and do a bit of a calculation on that. But anything that they’re not able to answer they just soft transfer to the DailyPay support team and they take it away and they help the employee. Great thing is we stay in communication with the DailyPay service team, so every month we get together and we talk about you know what was working, what are some of the challenges if there are any. So they take on the lion’s share of any of those calls, but we always have a regroup at the end of the month to talk about how things went. So yeah, the DailyPay team helps us out lots of times.

AG:

Okay, this has been awesome. Really great case study, Cynthia appreciate sharing and Jeanniey I appreciate you sharing all the thoughts and insights related to trends. Encourage you strongly, we will try to get access to that video and share with all our viewers too because we’ve just seen a preview and I recommend everybody check it out. But download the resources, we’ll share that ebook that we did. But thanks again, Jeanniey and Cynthia this was a great presentation.

Cynthia:

Thanks so much for the invite. Glad to talk to you and hello from OSL employees. All the best. Thanks so much

AG:

Awesome. Thanks, Jeanniey.

JW:

Thank you. Thank you Cynthia.

Cynthia:

Thank you.

JW:

All right. Thanks everybody for joining us today and remember to go back and check out those resources. Final reminder, you’ll get a link to go back and review this session. You can also share it with your peers. Otherwise stay safe everybody and have a great holiday season and we’ll talk with you soon.

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