Struggling to attract workers as the coronavirus pandemic drags on, major companies are dangling an uncommon benefit to lure job candidates: a chance to get paid every day, CBS News reported. Dozens of employers are now giving employees the option to withdraw money from their paychecks moments after finishing their shift by using smartphone apps like Branch or DailyPay. "Usually people aren't taking out $100 to go to the bar at night," DailyPay Chief Marketing Officer Jeanniey Walden said. "They're taking out, for example, $37.10 because they have a light bill that they forgot to pay." Such apps are essentially software add-ons to existing payroll systems like ADP. Employees can download the app on their iPhone or Android device and log in using a company-provided email or phone number. The app shows workers by the hour how much cash they're earning as their shift progresses throughout the work day and allows them to transfer their wages to a connected bank account with the touch of a button. Taxes and any pay garnishments are automatically taken out before a user can tap into the funds. Withdrawing wages whittles down the amount workers would ordinarily get when paid in full every two weeks. Still, Walden said the service benefits both employers and workers, noting that DailyPay is free to companies. "And for employees, they finally have a transparent way to see how much they're making, so they can manage their finances better," she said.
