How On-Demand Pay Helps Retail Companies, Employees and Customers

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As so many retailers are struggling to hire and retain employees in a competitive labor market, many are turning to new benefit solutions to stand out from the competition. With 1.5 jobs open for every unemployed worker, companies need to closely evaluate their offerings and make sure they’re compelling to potential applicants. Although there are many benefits options available, on-demand pay is especially useful for employers in the retail industry, as it addresses so many of their unique needs, from engaging hourly workers to reducing cash shrinkage. 

This week, we’re joining retail leaders at the National Retail Federation to discuss the latest challenges and opportunities in the retail industry. We’ve found DailyPay to have a significant impact on many problems retail employers and employees are currently facing. Here are a few examples:

1. Attract Better Job Candidates and Reduce Employee Turnover

A strong on-demand pay solution is a competitive recruiting tool to attract high-performing talent. DailyPay’s research shows that jobs advertising DailyPay receive, on average, 1.9x more applications than jobs that don’t, and DailyPay’s customers have seen candidates opt to accept a position that offers on-demand pay access for up to 15% lower pay than another competitive job. 

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