This move strengthens an existing partnership between the two companies and will provide a more connected experience for their joint customers, they said in a Tuesday (Aug. 19) press release.
DailyPay’s on-demand pay solution has been integrated with Workday’s platform for managing people, money and agents, Workday Human Capital Management (HCM), and Workday Payroll since 2023, according to the release.
“Through this expanded partnership, DailyPay will be able to serve more businesses focused on their employees’ financial well-being and reach tens of millions of workers who will benefit from the power to access their money on their time,” DailyPay CEO Stacy Greiner said in the release.
The Workday platform is used by more than 11,000 organizations around the world, including more than 60% of the Fortune 500, according to the release.
Matthew Brandt, senior vice president, global partners at Workday, said in the release that on-demand pay improves the employee experience and supports employees’ financial health.
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“By giving employees access to their earned wages on their own terms, this partnership is helping to remove a major source of stress — and empowering a workforce that’s more resilient, engaged and productive,” Brandt said.
The PYMNTS Intelligence and The Clearing House collaboration “No-Wait Wages: Leveraging Instant Payments to Boost Employee Satisfaction” found that the option for on-demand pay hold particular appeal at a time when about two-thirds of consumers live paycheck to paycheck.
The report found that 83% of individuals want to have more frequent pay schedules.
For employers, offering payroll instantly and on-demand can be a competitive advantage when nearly half of businesses are contending with staff shortages.
When Würk announced in July that it integrated DailyPay’s on-demand pay product into its payroll, human resources and compliance platform for highly regulated industries like cannabis and gaming, the company said the move allowed the users of its platform to offer their employees not only earned wage access but also a suite of financial wellness solutions.
“By partnering with an industry leader like DailyPay, we’re delivering modern, trusted financial tools — already used by millions in other sectors — to an industry that has long been underserved when it comes to employee benefits and workforce technology,” Würk CEO Deborah Saneman said at the time in a press release.
