DailyPay debuts incentive program for employer clients

DailyPay, an on-demand pay platform, is launching an incentive program for its employer clients to motivate and engage employees.

Employees who receive regular small rewards are eight times more likely to be engaged, according to research from Deloitte. But only 14% of those polled said their organization’s rewards program is “very effective” in retaining and attracting talent.

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Keeping employees engaged and motivated is a top priority for managers, especially during COVID-19. More than 75% of employees are experiencing burnout and 40% of employees say they feel unrecognized for the work they’ve been doing during the pandemic, according to a report by the Achievers Workforce Institute.

REWARD by DailyPay allows managers to incentivize their staff with immediate bonuses and incentives for exemplary work to pick up additional shifts.

“Managers want to advocate for their employees, but it’s not always easy or in the manager’s control to provide instant reinforcing feedback,” says Jeanniey Walden, chief innovation and marketing officer at DailyPay. “There is often a significant time lag between the job well done and the reinforcing reward for that behavior.”

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REWARD will connect managers and HR teams into DailyPay’s on-demand pay platform called PayEx, which will allow them to utilize DailyPay’s technology in order to become more active participants in their employees’ pay experience.

“The past year has presented many challenges for employers and employees alike,” Walden says. “Employers are feeling pressure to respond to these needs in order to ensure employee engagement and retention remain strong. REWARD will help on both sides of the equation.”