DailyPay, a financial solutions company that reduces employee turnover through instant access to wages, announced a partnership with DialAmerica, a call center company with over 3,000 employees. Together, DailyPay and DialAmerica are combating the financial burden caused by the delay that arises from biweekly pay schedules. Through this partnership, employees of DialAmerica can now receive their earned but unpaid wages instantly, even on weekends and holidays.
The call center industry has one of the nation’s highest turnover rates averaging up to 45 percent with a typical call center spending up to 6,000 dollars to hire and an additional 4,800 dollars to train new hires. Financial stress is cited as one of the leading causes of employee turnover. When call center employees can’t pay their bills on time and suffer late fees, they quit in search of a new job.
“When employees achieve financial security at a job, they stay longer,” said Jason Lee, Chief Executive Offer of DailyPay. “We are very excited to integrate DailyPay as an employee benefit across DialAmerica’s nineteen locations and help the company improve employee retention and recruiting. Since launching the partnership, we’ve already found tremendous improvements in employee retention.”
“The consensus regarding DailyPay is that the app is extremely convenient and provides a safety net in case of emergencies.” explains Mike Beaubrun, Operations Manager at DialAmerica.
DailyPay’s mission is to help companies reduce turnover by mitigating their employees’ financial hardships. Seventy percent of Americans live paycheck to paycheck and 47 percent cannot afford a 400 dollars unplanned expense. By being able to access earned wages before the scheduled payday, an employee can pay his bills on time and ultimately achieve financial security at his place of employment.