In an effort to boost employee hiring and retention in the hospitality industry, Island Hospitality Management is succeeding with on-demand employee benefits
NEW YORK, March 10, 2022 /PRNewswire/ — Island Hospitality Managementthe leading third-party management company for select services and upscale extended-stay hotels in United Statestoday announced its partnership with Daily Paythe leader in payment on demand.
“At Island, we have long known that our results and success are highly dependent on how our team members present themselves every day,” said Tonya Moore, SVP of Human Resources at Island Hospitality Management. “The past two years have been challenging at best, but it has also taught us to prioritize wellness and well-being. Last year, still at the height of the pandemic, we conducted a survey about wellness and learned that our team members were most interested in financial education followed by family events and volunteering.”
Based at West Palm Beach, Florida, Island Hospitality Management operates more than 70 hotels in North America. Through the partnership with DailyPay, Island’s extensive hotel portfolio is able to offer its employees the full range of DailyPay products and services to their employees.
“Lifestyle behaviors have been recognized as the biggest challenge to achieving goals. We know that our employees have access to resources such as predatory lending institutions that significantly reduce their take home pay,” added Moore. “As such, we view DailyPay as an important tool in our team members’ basket of financial resources that allows our employees to access their payroll when and how they need it. More importantly, we view DailyPay as an additional tool, as well as a retirement plan that provides an immediately acquired refuge match, which helps us provide significant financial well-being resources associated with an education within the tool.”
The DailyPay benefit allows employees to access money they’ve already earned to cover necessary expenses between payroll cycles and pay bills on time. Research commissioned by DailyPay shows that with access to DailyPay, users no longer have to incur overdraft fees or use payday loans to make ends meet.
Island Hospitality Management will leverage DailyPay to hire employees faster and retain them longer. Daily Pay research shows that candidates are twice as likely to apply for a job when the employer offers DailyPay. The research also revealed that employers have seen a 50% reduction in revenue since implementing DailyPay.
About Island Hospitality Management
Based at Palm Beach, Florida., Island Hospitality Management is a leading independent national management company. It operates more than 75 hotels under 15 different brands, primarily upscale select-service hotels, upscale extended-stay properties and upscale hotels, in 25 states and the United States. District of Colombia. Additional information is available on the company’s website, www.islandhospitality.com.
About Daily Pay
DailyPay, Inc., powered by its cutting-edge technology platform, is on a mission to build a new financial system. Partnership with America’s top employers including Dollar Tree, Berkshire Hathaway and Adecco. DailyPay is the recognized benchmark for on-demand payment. With its vast data network, proprietary funding model and connections to over 6,000 banking system endpoints, DailyPay ensures that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay develops the technology and the mindset to reinvent the way money moves, from the start of work. DailyPay is headquartered in New York Citywith operations based in Minneapolis. For more information, visit www.dailypay.com/press.
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