DailyPay And UKG (Ultimate Kronos Group) Partnership Helps Companies Recruit Faster And Retain Employees Longer During Challenging Labor Market By Leveraging Powerful Benefit Of On-demand Pay
NEW YORK, Nov. 15, 2021 /PRNewswire/ -- DailyPay is helping America's leading employers hire faster and retain employees during the tight labor market through its partnership with UKG (Ultimate Kronos Group), a leading global provider of HCM, payroll, HR service delivery and workforce management solutions.
According to recent research commissioned by DailyPay, employees stay at their jobs up to 73% longer in some industries when they have access to DailyPay, while companies offering DailyPay can fill open roles 53% faster than those who don't offer it.
The expansion of the DailyPay/UKG partnership in June has enabled DailyPay to further integrate into an additional UKG product, with no additional PEPM (per employee per month) fee, its on-demand pay services through an API integration with UKG Pro, UKG's award-winning global HCM solution for large and medium-size enterprises, giving employees easy and instant access to earned income before payday. With the expansion of this additional product integration, employers gain flexibility to choose the best of breed vendors of their choice. In just five months, millions of employees received access to DailyPay, which is a win-win for both employers and emploees.
For employees, it helps them break free from the vicious cycle of debt associated with payday loans and other financially-crippling means to make ends meet. According to research commissioned by DailyPay from the Aite-Novarica Group, 4 in 5 employees no longer have to turn to payday loans or pay overdraft fees after access to DailyPay.
For America's leading employers, leveraging DailyPay has been a vital part of their recruitment strategy during these challenging times.
"In these unprecedented times for American businesses, we are thankful for our ever-growing partnership with UKG, which has helped companies tackle the labor shortage by boosting recruitment and retention," said DailyPay's Senior Director of Business Development & Partnerships, Jak Lerdgidkjon. "Teaming up with UKG has empowered many top employers to offer the powerful, and often life-changing, benefit of on-demand pay that helps employees pay bills and take control of their finances on their own schedule."
DailyPay actively provides financial wellness for millions of employees of America's top companies. DailyPay's open access model does not require pre-funding by employers and allows employees to be paid in whatever way they choose, whether that is via paycard, a bank account or a debit card. The open access model is the least burdensome for the employer, as it doesn't require pre-funding transactions, which can be both a financial and administrative strain.
For more information about DailyPay, or to get a demo, click here.
DailyPay, powered by its industry-leading technology platform, is on a mission to build a new financial system. Partnering with America's best-in-class employers, including Dollar Tree, Berkshire Hathaway and Adecco, DailyPay is the recognized gold-standard in on-demand pay. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay is building technology and the mindset to reimagine the way money moves, from the moment work starts. DailyPay is headquartered in New York City, with operations based in Minneapolis. For more information, visit www.dailypay.com/press.
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