July 2, 2025
As housing expenses and the costs of consumer goods rise employee wage remain stagnant driving employers to look for new ways to pay.
Businesses are integrating “daily pay” as an incentive to retain employees.
Many Americans are tightening their purses as housing costs rise. Simultaneously, consumer goods are rising as well. Employee benefits, such as 401(k)s and health insurance, are a draw, as is the opportunity for frequent access to wages. Pay platforms like Tapcheck, FlexWage, CloudPay, and DailyPay allow workers to access income when needed.
DailyPay charges a flat rate to withdraw employee wages when necessary. There are no added fees or charges associated with the service.
The Chief Financial Officer of the Vonachen Group, Robert Ferlmann, adopted the program after identifying high turnover in the business.
Ferlmann spoke to CNBC about the reason behind the decision after switching from bi-weekly to weekly pay. Then, he was offered an opportunity to join the pilot program for DailyPay after confirming the contract posed no financial downfalls for the company, and he gave it a try. Ferlmann says the implementation of DailyPay has made a difference in employee retention.
“It is, without question, the most popular benefit we offer employees,” Ferlmann told CNBC.
Stacy Griener, CEO of DailyPay, says the service takes off the added stress on employees. Geirener says the need to choose between “groceries” and “gas money” greatly impacts employee performance. The ability to access immediate wages for necessities empowers employees.
“Partnering with employers to give their employees control over their financial wellness is more important than ever,” Greiner said. “People want to know if they have a bill or a need for their money, they can get access to it. It’s not a payday loan they have to pay back with interest. It’s money they’ve already earned.”
Resume Now’s 2025 Wage Reality Report outlines stressful realities for millions of surveyed average workers:
- 12% report they often cannot afford basic living expenses.
- 24% can afford essentials but struggle to do so.
- Housing costs have risen (55%)
- Prices for everyday essentials have increased (41%)
As financial stability for the lower and middle classes becomes more strained, more companies may adopt the daily pay method.
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