UKG DailyPay allows employees to access their earned wages instantly, offering financial flexibility and reducing stress. This service integrates smoothly with existing payroll systems to ensure accurate payroll and compensation data without any changes to your existing systems.

In this article, we discuss how UKG DailyPay benefits both employees and employers by enhancing financial wellness, boosting retention, and simplifying payroll processes.

Key Takeaways

  • UKG DailyPay provides employees with earned wage access, allowing them to track, access, and save their earnings instantly, significantly improving financial wellness and behavior.
  • The integration of UKG DailyPay with existing payroll systems is seamless, requiring no changes to current processes, and can be deployed quickly with minimal disruption.
  • UKG DailyPay enhances employee retention and recruitment by offering flexible pay options, with many employers reporting reduced turnover rates after implementing the system.

Unlocking the Power of Earned Wage Access

UKG DailyPay is a financial wellness tool that redefines the relationship between employees and their earnings. Its provision of earned wage access empowers employees to track, access, and save their earnings seamlessly without modifying existing payroll processes.

One of the standout features of UKG DailyPay is that employees can access up to 100% of their earned pay instantly. This flexibility is a game-changer, with 96% of employees using the Earned Wage Access (EWA) solution reporting satisfaction with their experience. This high satisfaction rate speaks volumes about the system’s effectiveness and user-friendliness.

UKG DailyPay has profoundly impacted employees’ financial habits. According to recent data, 80% of users reported a positive influence on their financial behaviors. Additionally, the service offers free same-day digital transfers to employees’ DailyPay accounts, eliminating the need for paper checks and further simplifying the process through direct deposit.

The nationwide availability of UKG DailyPay ensures that employees across the country can benefit from this innovative solution. Providing immediate access to earned income for a small, ATM-like fee significantly alleviates financial stress and boosts overall economic well-being. This demonstrates the transformative power of UKG DailyPay in modern workforce management.

Seamless Integration with Payroll Systems

One of UKG DailyPay’s most attractive features is its ability to integrate smoothly with existing payroll systems. With compatibility across over 180 different HCM, payroll, and time management systems, DailyPay ensures a smooth and adaptable implementation process. This means that businesses can adopt this innovative solution without overhauling their current payroll processes.

DailyPay’s integration requires no changes to normal payroll processes, ensuring minimal disruption. This is crucial for businesses that need to maintain operational continuity while implementing new workforce management solutions. The system is designed to work universally across different payroll and time management platforms, whether through pre-built or custom integrations.

In addition to its adaptability, DailyPay offers the following benefits:

  • Quick deployment process, reducing implementation time to approximately two weeks with their DailyPay led implementation
  • Established partnerships with many payroll providers, facilitating a seamless transition
  • Employees can immediately begin tracking, accessing, and saving their earnings without any changes to their current payroll handling

UKG DailyPay guarantees businesses can improve their payroll processes with minimal disruption and without extensive modifications, thanks to its smooth integration capabilities. This ease of integration is a testament to the thoughtful design and robust capabilities of the DailyPay system.

Boosting Employee Retention and Recruitment

Illustration of a group of diverse employees

In today’s competitive labor market, attracting and retaining top talent is more challenging than ever. Offering flexible pay options like UKG DailyPay can give employers a significant edge. Companies can present themselves as progressive employers by catering to the modern workforce’s demand for immediate access to earned wages.

The impact of UKG DailyPay on employee retention is substantial. A survey revealed that 30% of employers who offer DailyPay have observed a reduction in employee turnover. This statistic underscores the value of providing financial wellness tools that align with employees’ needs and expectations. In a landscape where every advantage counts, UKG DailyPay is a crucial benefit that can attract and retain valuable talent.

Enhancing Financial Wellness Programs

Illustration of a piggy bank and dollar bills

Financial wellness programs play a vital role in supporting employees’ overall well-being. UKG DailyPay amplifies the effectiveness of these programs by giving employees unprecedented control over their earnings. Employees can track, access, and save their earnings anytime, promoting better financial management and reducing reliance on payday loans.

UKG DailyPay, a Member FDIC, offers employees the convenience of accessing up to 100% of their earned net pay at any time for a nominal, ATM-like fee directly into their bank account. This flexibility for daily pay earnings can significantly reduce financial stress, allowing employees to manage their finances more effectively using tools like Visa debit cards. As a result, 95% of DailyPay users have reported stopping or reducing their use of payday loans.

The positive impact of UKG DailyPay on financial habits is evident. 80% of users have credited the service for improving their financial behaviors. Employers also recognize the value of DailyPay, with 73% viewing it as a cornerstone of their financial wellness benefits. These statistics highlight the significant role that UKG DailyPay plays in enhancing financial wellness programs.

Frequent payday loan users save an estimated $624-$930 annually using DailyPay, illustrating the tangible financial benefits of the service. UKG DailyPay’s round-the-clock bilingual employee support guarantees that all employees can obtain the help they need to optimize their financial well-being. This comprehensive support underscores the commitment to enhancing employee financial wellness.

No Cost to Employers and Easy Implementation

One of the most appealing aspects of UKG DailyPay for employers is its full funding model, which ensures there are no additional costs for businesses. This model eliminates extra administrative burdens and allows employers to offer a valuable benefit without incurring additional expenses.

UKG DailyPay’s implementation process is crafted to be hassle-free and user-friendly. The dedicated implementation team manages the entire process, from start to finish, ensuring a seamless transition to the on-demand pay system. This includes custom launch programs and 24/7 bilingual employee support to facilitate a successful rollout.

The implementation process unfolds through several stages, encompassing:

  • Kickoff
  • Testing
  • Transmission
  • Training
  • Launch

This structured approach ensures that all aspects of the transition are carefully planned and executed, minimizing any additional workload for employers. The support provided throughout the setup helps ensure a smooth adoption process.

UKG DailyPay’s client portal manages all transfers, simplifying the process and making it easily scalable. This ease of use is reflected in the feedback from employers, with 82% finding the adoption of DailyPay’s solution to be easy. The benefits of using UKG DailyPay include:

  • Simplified transfer process
  • Scalability
  • Dedicated support
  • Comprehensive implementation strategy

Off-Cycle Payment Solutions

UKG DailyPay also offers a robust off-cycle payment solution, allowing employers to quickly disburse pre-funded payments for termination pay, payroll corrections, and other payments outside of the regular pay cycle. This flexibility ensures that employers can handle unexpected payment needs efficiently.

The off-cycle payment solutions have been designed to be inclusive, accommodating both enrolled and unenrolled employees. This broad reach ensures that all employees can benefit from the system, regardless of their enrollment status. By providing clear payment transfer cut-off times, UKG DailyPay helps ensure easy compliance assessments with same-day, pre-funded payments.

Off-cycle payment solutions demonstrate UKG DailyPay’s commitment to providing comprehensive payroll services that meet the diverse needs of employers and employees alike. This feature ensures that businesses can maintain operational efficiency while meeting their workforce’s financial needs.

Partnering with the Experts

From outlining plans for a new UKG implementation project to navigating complex integrations between UKG and other external systems, optimizing core workforce management initiatives, or maintaining effective communication routes across internal teams, Surety Systems is here to help.

Our senior-level UKG consultants have the skills and experience to understand your critical project needs and prepare your internal teams for continuous development and improvement.

Contact Us

For more information about our UKG consulting services or to get started on a project with our team of expert consultants, contact us today.

Frequently Asked Questions

How does UKG DailyPay improve employee financial wellness?

UKG DailyPay improves employee financial wellness by giving them immediate access to their earned wages, which helps them manage their finances better and avoid payday loans.

Does implementing DailyPay disrupt existing payroll processes?

No, DailyPay integrates seamlessly with over 180 payroll and time management systems without causing disruption.

How does UKG DailyPay help with employee retention and recruitment?

UKG DailyPay helps with employee retention and recruitment by offering flexible pay options that attract talent and reduce turnover, making it easier for employers to retain their workforce.

Can DailyPay handle off-cycle payments?

Yes, DailyPay can handle off-cycle payments, such as termination pay and payroll corrections.