{"id":35880,"date":"2023-04-03T18:29:28","date_gmt":"2023-04-03T22:29:28","guid":{"rendered":"https:\/\/www.dailypay.com\/?p=35880"},"modified":"2023-10-20T17:16:32","modified_gmt":"2023-10-20T21:16:32","slug":"its-time-for-a-change","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/blog\/its-time-for-a-change\/","title":{"rendered":"It’s time for a change"},"content":{"rendered":"\t\t
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By Darlene Miranda<\/strong><\/p>

VP and General Manager, Enterprise Product, DailyPay<\/span><\/em><\/p>

I don\u2019t take my job lightly. Every minute of every day someone is using the DailyPay platform to make their life better. Maybe it\u2019s to pay a phone bill. Maybe it\u2019s to save for college. Or maybe it\u2019s just to see how much money they\u2019ve earned on a shift so they know if they have enough funds to make a rent payment at the end of the week.\u00a0<\/span><\/p>

My role at DailyPay as VP and General Manager is to make sure that experience is as easy and effective as possible. After all, when it comes to work, there is nothing more personal than pay.\u00a0\u00a0<\/span><\/p>

At a recent conference, I had the opportunity to have real, open conversations with representatives from America\u2019s largest employers. And I learned so much about the challenges employees are having and the potential impact we can make.<\/span><\/p>

We all know that real life happens between paychecks whether it’s an unforeseen car payment, a medical bill, or an important anniversary. For far too many Americans, a financial setback can have an outsized impact that takes a long time to recover from. Because when a bill is due \u2013 there are only so many ways to pay that bill. And most of those have pernicious financial effects that can spiral into a cycle of poverty. Sadly, it\u2019s often not a one-time occurrence. And who benefits? The <\/span>payday loan industry<\/span><\/a> is a plague on underserved communities preying on those who can afford those exorbitant fees the least. Overdraft fees are a billion-dollar line item for banks \u2013\u00a0 though they are paid by those with the smallest accounts.\u00a0<\/span><\/p>

Something had to be done to end that constant fear of the downward spiral.\u00a0<\/span><\/p>

Fortunately, advancements in technology have turned the power dynamic back to hard working <\/span>Americans. My company, in particular, has created a powerful and innovative technology platform that gives employees access to the money they have already earned. It\u2019s not a loan. It\u2019s not borrowing money. It\u2019s the money you\u2019ve <\/span>already<\/span><\/i> earned. As we like to say \u2013 It\u2019s YOUR money.<\/span><\/p>

Over the last seven years, DailyPay has partnered with America\u2019s leading employers in nearly every sector from<\/span> retail<\/span><\/a> to <\/span>hospitality<\/span><\/a> to <\/span>healthcare<\/span><\/a> to offer our on-demand product as a financial wellness benefit. With DailyPay employees can pay bills, <\/span>save,<\/span><\/a> spend, or invest on their own schedule. Or they can just use the app to see how much money they\u2019ve earned on a given shift.\u00a0<\/span><\/p>

This flexibility and visibility is critical for someone making the most “right” decision at a given moment. All of a sudden the financial stress associated with trying to make ends meet every week dissipates. And, as those “right” decisions add up, the mental tax and burden they pay thinking about the downward cycle starts to fade. They become empowered and with it comes a sense of dignity that living a positive financial life can bring.\u00a0<\/span><\/p>

Employers will notice too. When an employee is less stressed they are more productive and <\/span>engaged<\/span><\/a> at work. They call in sick less and even take extra shifts. The bond between employee and employer is strengthened leading to a happier workforce.\u00a0<\/span><\/p>

So why haven\u2019t more companies joined the <\/span>earned wage access movement<\/span><\/a>? For starters, there are misconceptions about how it really works. For years, we obsessively fine-tuned the back-end of the product to ensure a positive experience every time your employee uses it. And the im<\/span>plementation is seamless because we have worked so hard to create relationships with the <\/span>companies you already use for payroll and timekeeping<\/span><\/a>. From funding the payments to handling all customer service inquiries ourselves, we handle it all.\u00a0<\/span><\/p>

We see this as a definitive win-win situation for both employees and employers. For <\/span>employees<\/span><\/a>, it\u2019s the first step on a path to <\/span>financial wellness<\/span><\/a> that an employer can help pave. It\u2019s not about planning for the financial stability “end game,\u201d but rather methodically moving in the right direction by staying out of debt and away from suboptimal ways to make ends meet.\u00a0<\/span><\/p>

For employers, DailyPay is a benefit that has proven to drive employee retention. We are steadfastly committed to a great user experience which directly correlates to driving higher enrollment and happier employees. It\u2019s the zero-cost benefit to employers that your employees will love. In fact, more and more employees are requiring on-demand pay as a must-have benefit in their next job. With the labor market still tight in many industries, offering on-demand pay can give a company a critical competitive edge.\u00a0\u00a0<\/span><\/p>

At DailyPay, we are committed to our mission of providing on-demand pay everywhere. We see a world where payday loan shops are a relic of the past and overdraft fees no longer are an issue. We see a world where the timing of pay has no impact on one\u2019s ability to pay bills. We see a more equitable world where we are successfully able to change pay\u2026for good.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

By Darlene Miranda VP and General Manager, Enterprise Product, DailyPay I don\u2019t take my job lightly. Every minute of every day someone is using the DailyPay platform to make their life better. Maybe it\u2019s to pay a phone bill. Maybe it\u2019s to save for college. Or maybe it\u2019s just to see how much money they\u2019veRead More<\/a><\/p>\n","protected":false},"author":82,"featured_media":35879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[147],"tags":[],"class_list":["post-35880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"\nIt's time for a change - DailyPay<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailypay.com\/resource-center\/blog\/its-time-for-a-change\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It's time for a change\" \/>\n<meta property=\"og:description\" content=\"By Darlene Miranda VP and General Manager, Enterprise Product, DailyPay I don\u2019t take my job lightly. 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Every minute of every day someone is using the DailyPay platform to make their life better. Maybe it\u2019s to pay a phone bill. Maybe it\u2019s to save for college. 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