DailyPay drives retention at scale
On-demand pay, also known as earned wage access, has seen a significant uptick in adoption since its introduction. The functionality enables employees to take out wages as they are earned, so that they can avoid taking out high-interest payday loans or check cashing services. Since its inception, on-demand pay solutions have proven to be a value driver for organizations looking to attract and retain hourly workers. Nucleus interviewed customers of DailyPay, a prominent vendor in the space, to assess the organizational benefits of implementing earned wage access within high-volume, high-turnover industries such as healthcare, staffing, and hospitality. One organization has an 87 percent user adoption rate with DailyPay, highlighting the nature of demand for such solutions across the workforce.