DailyPay Ranks As The #1 Adopted Financial Wellness Employee Benefit According to New Employer Study

DailyPay ranks as the #1 adopted financial wellness benefit in a new employer study conducted by DailyPay this month. The survey consisted of employers who currently offer DailyPay’s worktech platform to their employees.

DailyPay outranks other benefits for the top spot, including 401(k)s, flexible schedules, HSA/FSA accounts, life insurance, wellness programs, and educational assistance.

Overall, only healthcare benefits ranked higher in terms of adoption according to the survey. The majority (55%) of those polled say DailyPay is among the top 3 overall benefits employees voluntarily engage with.

Nearly all (97%) of those surveyed say DailyPay is an important financial wellness benefit that they offer to their employees with two-thirds (67%) saying it is the most or a very important financial wellness benefit that they offer to their employees.

“A high percentage of applicants, in our communities, won’t even consider accepting a position without some form of a same day pay program. Since integrating with DailyPay our percent of use by all employees has significantly improved and has made an impact on employee satisfaction overall.” – Accolade HC

“DailyPay has quickly become one of our most attractive benefits — from candidates, new hires, to current employees. We believe it has become a top differentiator to attract new talent — and retain current talent, too.” – Mission Health Communities

“Having access to DailyPay is important to employees because it gives them more control and flexibility over their earnings. Instead of waiting for a traditional payday, they can access their earned wages on-demand, which helps them manage unexpected expenses, avoid late fees, and reduce financial stress. This kind of financial flexibility can lead to higher job satisfaction, increased productivity, and stronger retention, as employees feel more supported and empowered in their financial lives. It’s a great way to show that the company values their well-being beyond just their paycheck.” – Agave & Rye

Research conducted by Arizent shows that employees who leveraged DailyPay were better positioned to pay bills on time, avoid late fees, and avoid accumulating credit card debt. The data shows about 7 in 10 (69%) of DailyPay users who previously paid late fees did this less often or stopped completely since they started using DailyPay. In addition, 62% of users who previously incurred credit card interest charges did this less often or stopped completely since they started using DailyPay.