Recruit, Retain & Reward.
Recruit, Retain & Reward.
Increased productivity at zero cost. Now that’s a Return-on-Investment anyone can get behind.
Labor management is a costly and time consuming burden on companies of all sizes. Employee turnover, onboarding/offboarding, training, and recruiting are all expenses that impact the bottom line. DailyPay solves the problem by providing your employees and contractors the flexibility to accelerate their earnings. Your company will meaningfully benefit from a more productive, engaged, and loyal workforce. That’s a workforce that sells harder, works harder, shows up earlier, leaves later, and stays with you longer. Most importantly, there is no cost to your company to offer this service to your employees.
1
10,000+
1,000,000+
100 +
Employees who have received daily payments
Payments made annually across America
Hours of online testimonials
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
YOUR EMPLOYEES NEED ACCESS TO THEIR EARNINGS BEFORE PAY DAY Americans lose over $1,000 per year from fees and interest due to lack of funds in their bank account. According to the Federal Reserve, 47% of Americans can’t afford a $400 unexpected expense. This includes your employees.
Compared to other alternatives, DailyPay offers employees a low cost alternative to receive the exact amount of cash they need to cover daily expenses.
Annual cost of alternatives: Employees can access earnings for a fraction of the cost compared to the alternatives
DailyPay
Credit Card Advance
Pay Day Loan*
Overdraft
0
$
200
$
400
$
600
$
800
$
1,000
$
1,200
$
1,400
$
1,600
$
1,800
$
2,000
$
* Excludes any penalties from late repayments
2
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
REDUCING EMPLOYEE STRESS INCREASES YOUR BOTTOM LINE Money is the leading cause of stress among Americans. Most are living with stress levels higher than psychologists believe to be healthy. According to the American Psychological Association, 75% of adults reported being stressed about money, while
75%
22% reported extreme stress over the past month.
Reducing stress can affect your company’s bottom line. Daily payments contribute to employee happiness, while reducing costs associated with absenteeism, sick time and churn by mitigating finanical burden caused by debt and late fees.
ABS ENTE E IS M
SICK-TIME
CHURN
Investing in wellness programs saves you money: Wellness programs typically return $1 to $3 for every dollar invested
$450,000
Savings per year
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
100
200
300
400
Employees
3
500
1,000
1,500
* Harvard Business Review & other sources
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
USE DAILY PAYMENTS TO IMPROVE YOUR COMPANY PERFORMANCE The economic value of retaining the best employees for a longer period of time:
Economic Value to Organization
Creating workforce engagement is an easy way to keep employees longer as they move up the value curve.
+
RETURN ZONE Performing
The organization is benefitting from you.
Training
-
INVESTMENT ZONE The organization is investing in you.
Onboarding New Hire
* source: Bersin by Deloitte, a Leading Research and Advisory Services Firm
Increase Productivity DailyPay has observed a 17% increase in productivity in workers who receive daily payments. Example: Hourly workers pick up additional shifts knowing they can be paid next day.
Reduce Turnover Workers who receive daily payments stay with employers up to 35% longer than those without daily payments.
Increase Engagement Employers use daily payments as a motivational tool to encourage employees to comply with employer requirements (ex: clocking in on time or to complete additional jobs).
Save on Recruitment/Training Costs Studies show that the total cost of losing an employee ranges from tens of thousands of dollars to 1.5-2X annual salary.
4
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
JOIN THE LIST OF COMPANIES WHO EARN MORE BY OFFERING DAILYPAY TO EMPLOYEES How it works for employers Communicate job data daily via our standard CSV template or through an API endpoint. Employee’s payment information is updated to their new DailyPay account in your payroll system. DailyPay pays Employees daily. You pay DailyPay on your regularly scheduled pay day through your regular payroll process. There is no change to your current payroll process. There is no cost to offer DailyPay.
How it works for employees Employee creates an account. Sets preferences (receive pay daily or access it on an as-need basis). Withdraws desired amount of accrued earnings on any given day. Earnings are deposited straight into the Employees bank account. Remaining earnings are passed through to Employee by DailyPay on the regular pay day. 5
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
PRODUCT OVERVIEW Numerical Example (In this example, Employee pulls funds once over pay period.)
Steps
Numerical Example
1 Each day, Company communicates job data to DailyPay
2 Employee requests available funds during payroll period. DailyPay advances Employee an amount of cash equal to after-tax earnings
Pretax earnings: $60 After-tax earnings: $42 (70% due to withholdings)
3 Employee receives payment in their bank account
Employee receives $42
4 Payroll provider pays Employee as it normally
20 hrs worked @ $15/hr = $300 Total after-tax pay: $210 DailyPay receives $210
would on the regular bi-weekly pay day Note: Employee’s bank account on file has been updated to DailyPay account
5 DailyPay disburses remaining earnings to Employee on the regularly scheduled pay day
6
Employee’s daily pre-tax earnings= $60 (4 hrs per day @ $15/hr)
DailyPay remits $168 to Employee In total, Employee has received $210 ($42+$168)
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
Increased productivity at zero cost. Now that’s a Return-on-Investment anyone can get behind.
Labor management is a costly and time consuming burden on companies of all sizes. Employee turnover, onboarding/offboarding, training, and recruiting are all expenses that impact the bottom line. DailyPay solves the problem by providing your employees and contractors the flexibility to accelerate their earnings. Your company will meaningfully benefit from a more productive, engaged, and loyal workforce. That’s a workforce that sells harder, works harder, shows up earlier, leaves later, and stays with you longer. Most importantly, there is no cost to your company to offer this service to your employees.
1
10,000+
1,000,000+
100 +
Employees who have received daily payments
Payments made annually across America
Hours of online testimonials
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
YOUR EMPLOYEES NEED ACCESS TO THEIR EARNINGS BEFORE PAY DAY Americans lose over $1,000 per year from fees and interest due to lack of funds in their bank account. According to the Federal Reserve, 47% of Americans can’t afford a $400 unexpected expense. This includes your employees.
Compared to other alternatives, DailyPay offers employees a low cost alternative to receive the exact amount of cash they need to cover daily expenses.
Annual cost of alternatives: Employees can access earnings for a fraction of the cost compared to the alternatives
DailyPay
Credit Card Advance
Pay Day Loan*
Overdraft
0
$
200
$
400
$
600
$
800
$
1,000
$
1,200
$
1,400
$
1,600
$
1,800
$
2,000
$
* Excludes any penalties from late repayments
2
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
REDUCING EMPLOYEE STRESS INCREASES YOUR BOTTOM LINE Money is the leading cause of stress among Americans. Most are living with stress levels higher than psychologists believe to be healthy. According to the American Psychological Association, 75% of adults reported being stressed about money, while
75%
22% reported extreme stress over the past month.
Reducing stress can affect your company’s bottom line. Daily payments contribute to employee happiness, while reducing costs associated with absenteeism, sick time and churn by mitigating finanical burden caused by debt and late fees.
ABS ENTE E IS M
SICK-TIME
CHURN
Investing in wellness programs saves you money: Wellness programs typically return $1 to $3 for every dollar invested
$450,000
Savings per year
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
100
200
300
400
Employees
3
500
1,000
1,500
* Harvard Business Review & other sources
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
USE DAILY PAYMENTS TO IMPROVE YOUR COMPANY PERFORMANCE The economic value of retaining the best employees for a longer period of time:
Economic Value to Organization
Creating workforce engagement is an easy way to keep employees longer as they move up the value curve.
+
RETURN ZONE Performing
The organization is benefitting from you.
Training
-
INVESTMENT ZONE The organization is investing in you.
Onboarding New Hire
* source: Bersin by Deloitte, a Leading Research and Advisory Services Firm
Increase Productivity DailyPay has observed a 17% increase in productivity in workers who receive daily payments. Example: Hourly workers pick up additional shifts knowing they can be paid next day.
Reduce Turnover Workers who receive daily payments stay with employers up to 35% longer than those without daily payments.
Increase Engagement Employers use daily payments as a motivational tool to encourage employees to comply with employer requirements (ex: clocking in on time or to complete additional jobs).
Save on Recruitment/Training Costs Studies show that the total cost of losing an employee ranges from tens of thousands of dollars to 1.5-2X annual salary.
4
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
JOIN THE LIST OF COMPANIES WHO EARN MORE BY OFFERING DAILYPAY TO EMPLOYEES How it works for employers Communicate job data daily via our standard CSV template or through an API endpoint. Employee’s payment information is updated to their new DailyPay account in your payroll system. DailyPay pays Employees daily. You pay DailyPay on your regularly scheduled pay day through your regular payroll process. There is no change to your current payroll process. There is no cost to offer DailyPay.
How it works for employees Employee creates an account. Sets preferences (receive pay daily or access it on an as-need basis). Withdraws desired amount of accrued earnings on any given day. Earnings are deposited straight into the Employees bank account. Remaining earnings are passed through to Employee by DailyPay on the regular pay day. 5
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
PRODUCT OVERVIEW Numerical Example (In this example, Employee pulls funds once over pay period.)
Steps
Numerical Example
1 Each day, Company communicates job data to DailyPay
2 Employee requests available funds during payroll period. DailyPay advances Employee an amount of cash equal to after-tax earnings
Pretax earnings: $60 After-tax earnings: $42 (70% due to withholdings)
3 Employee receives payment in their bank account
Employee receives $42
4 Payroll provider pays Employee as it normally
20 hrs worked @ $15/hr = $300 Total after-tax pay: $210 DailyPay receives $210
would on the regular bi-weekly pay day Note: Employee’s bank account on file has been updated to DailyPay account
5 DailyPay disburses remaining earnings to Employee on the regularly scheduled pay day
6
Employee’s daily pre-tax earnings= $60 (4 hrs per day @ $15/hr)
DailyPay remits $168 to Employee In total, Employee has received $210 ($42+$168)
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
DailyPay, Inc. | trydailypay.com | 55 Broad Street New York 10004 | [email protected]
