Daily Pay Benefits In The News

Recent new stories about daily pay benefits.

- -

News from February 2019

Here is a round-up of last month’s top news stories.

Stay up-to-date with the latest in employee benefits news across the U.S. workforce to improve your recruiting strategies, retention rates, and overall employee experience.

 

5 Payday Loan Alternatives That Are Way Less Painful

By Doug Whiteman  

Moneywise ArticleOriginally appeared on MoneyWise on February 8, 2019

When you’re short on money, acquiring a payday loan is tempting. However, accepting a payday loan is a slippery slope. With annual interest rates on payday loans amounting to roughly 400%, it’s easy to bite off more than you can chew, and wind up in a vicious cycle of debt as a result.

Luckily, alternative options are available.

Among the four other options listed in the following article, working with employers to access earned by unpaid wages, without waiting on a typical payday is a viable option.

Read the full story



How Businesses Can Support Their Caregiving Employees

By Danielle Kost

ForbesOriginally appeared on Forbes on February 7, 2019

Because of the tight labor market, competition for top talent in the modern U.S. workforce is fierce. For this reason, hiring and retention strategies are more important than ever for businesses. That means organizations must think differently about the types of benefits they offer.

As it is now, almost three-quarters of employees are providing care to a child, parent or friend. By zeroing in on employees who are caregivers, and finding unique benefits to satisfy their needs, organizations may have a unique advantage in the marketplace.

Read the full story


Love the one you’re with: how hotels can use technology to keep their best staff

By Margaret Ady

hospitalitynetOriginally appeared on Hospitality Net on January 28, 2019

The hospitality sector has one of the highest turnover rates of all industries in the U.S. High turnover, especially in a customer-facing industry, puts your quality of service, workplace morale, and productivity outputs in jeopardy. What can hoteliers do to keep their employees happy?

Experts recommend taking a step back and focusing on staff first.

Read the full story


When It’s Hard to Make Ends Meet, Can Smart Apps Help?

By Tina Rosenberg

nytimesOriginally appeared in The NY Times on February 4, 2019

The recent government shutdown painted a picture of just how tight an average American’s budget is. The shutdown also showed how access to funds and control over payments could help the typical American during sticky situations.

A variety of applications are slowly starting to transform fiscal responsibility, and starting to give the average American more control over their financing.

Read the full story


More Americans than ever are struggling to pay their car loans as overall debt rises in US

By Kris Kinkade

usatodayOriginally appeared in USA Today on February 15, 2019

Understanding the state of American finances can help employers make strategic decisions about benefits and compensation.

As it is today, Americans have accumulated 21%  more debt than the $12.7 trillion owed in 2008 during the height of the Great Recession. Worse still, roughly 7 million Americans say they are behind on their auto loan payments by 90 days or more.

And, for most Americans, having a vehicle is essential to get them to and from work. What does this mean for the economy?

Read the full story


Built In NYC’s 50 Startups to Watch in 2019

By Liz Warren

builtinnycOriginally appeared on BuiltInNYC on February 5, 2019

With plenty of competition and talent in New York, tech companies in the city must cut through the noise by exceeding business standards. Online publication, Built In, analyzed tech startups in New York who have done just that - cut through the noise with their exemplary products and compiled a list of the most standout organizations.

To qualify for their analysis, companies must be five years old or less and have attracted key investors because of their well-crafted products and ingenuity.

The following article details Built In’s top 50 picks, one of which includes a major player in the daily payment benefit space.

Read the full story