Companies Leveraging DailyPay are Better Suited to Tackle Labor Challenges, According to New Mercator Advisory Group Research
/NEW YORK, April 21, 2021 /PRNewswire/ -- As American businesses reopen, forward-thinking companies are leveraging DailyPay, the leader in on-demand pay, to gain an advantage over their competitors and maintain successful operations. This news comes out of a recent study of over one million employees across 10 industries that play a key role in America's economic comeback.
A new study from the Mercator Advisory Group, "Modernizing Payroll Through Earned Wage Access," reveals the true transformative power that DailyPay, the recognized gold standard in Earned Wage Access (sometimes called "on-demand pay"), has on a company's bottom line.
The Mercator Advisory Group examined 10 industries and found that average tenure improved by as much as 73% for workers in nursing homes using DailyPay's earned wage access solution. These notable improvements vary by industry. Some other industry results highlighted in the research include transportation +68%, call centers +51%, caregivers +27%, and retail +24%.