Dallas-based auto insurance provider A-MAX Auto Insurance is on a mission to give hard-to-insure Texans the low-cost auto coverage they need to drive with peace of mind. The company’s hardworking agents go above and beyond to help individuals who may not be able to find reasonable rates elsewhere get a policy that works for them.
A-MAX has been helping Texans for close to 20 years. The company’s 750-person workforce is spread out across 200 locations all over the state, from San Antonio to El Paso. Its workforce is made up of full-time insurance agents, call center employees, and corporate employees. A-MAX’s employee base is largely comprised of young workers – the same demographic as the people they’re insuring. Because many young people are in a transitional phase of their lives, turnover at A-MAX is high, which puts employee engagement high on management’s list of priorities.
Just as A-MAX agents are always trying to help customers, A-MAX is always trying to help its staff. Many employees are paid hourly, and some are living paycheck to paycheck. The company strives to engage employees and to make their lives easier by helping them build their financial literacy and wellness. The company offers loans to employees who find themselves in tight financial situations. And it is always on the lookout for easy-to-use self-serve solutions that can help it connect with its tech-savvy workforce. During the pandemic, these two approaches have been more important than ever.
“We have to engage with these employees on a day-to-day basis, which can be difficult to do without the right system in place. As we embark on a new era of remote work, having a technology like Dayforce really makes it easy to communicate with them,” says Amyn Rajan, Senior Vice President of Strategy and Innovation.
“We use it for pretty much everything from hire to retire, so to speak. We find it very beneficial to the organization,” says Joseph Carpenter, Head of People and Culture. “When we were looking at our options, the new HR solution we selected had to be sustainable and scalable. We were a growing organization and wanted to ensure our solution could support our needs as we continued to grow.”
“The roadmap that Dayforce has put forth for the next several years has really helped us to decide how we’re going to integrate data and analytics into our organization. The biggest value I see with Dayforce is in how we can use this information to make strategic decisions for the future,” he adds.
Having real-time access to information and reporting through the Dayforce mobile app has been a bonus for employees, says Rajan. “Our employees are very comfortable using their phones. Dayforce has made it simple for employees to have access to their information, to be able to look at their paycheck, request days off, and several other offerings.”
Recently, A-MAX began leveraging performance conversations within Dayforce to help managers better support their employees to succeed in their roles. “Managers use it to record performance conversations with their employees and monitor progress on their goals. It makes it easier to track the employee's performance, and it really helps the engagement level between the manager and the employee,” says Carpenter. “We find that whenever we have an open line of communication and transparency with our employees, we see less turnover, higher retention, and higher engagement and satisfaction.”
The A-MAX team was intrigued when they were first introduced to Dayforce Wallet. For a company committed to providing the best on-demand technology to its employees, Dayforce Wallet seemed like a great fit. And with most of its young workforce living paycheck to paycheck, the company knew the solution could be very helpful.
Dayforce Wallet is a flexible pay solution that gives employees real-time access to the wages they’ve earned – before payday. The solution continuously calculates net pay, including remittances, which means employees who use it receive a payout of net earnings, as opposed to an advance. The solution allows employers to maintain existing payroll processes and payroll funding schedules, and provides real-time reports showing itemized and cumulative withdrawals per employee.
While the team at A-MAX was interested, they also had lots of questions. Would it be easy for employees to access? Would processing transactions add any additional burden to the company’s HR team? Would it take a lot of time and effort to implement?
The company worked with the Ceridian team to get the answers it needed and ran a six-week pilot program with a select group of employees to test out the solution. “We asked a lot of questions, and we were able to alleviate our concerns by testing every aspect of how the Dayforce Wallet would work,” says Rajan. “I was one of the first to request my own Dayforce Card, which I used to buy groceries. I was immediately impressed by how easy it was to use and was sold instantly at that point.”
After the pilot testing was complete, Dayforce Wallet was rolled out to the entire workforce. Carpenter says the implementation was easier than he expected. And it hasn’t changed A-MAX’s payroll processes in the slightest. In the first two months of being live on Dayforce Wallet, 10% of employees are now using it on a weekly basis to access on-demand pay.
Moving employees from A-MAX’s existing loan program to Dayforce Wallet has strengthened the company’s commitment to building its workforce’s financial literacy and wellness, while giving people quicker access to their funds. Because the previous loan program was managed manually, employees at times had to wait five to seven business days for money to be deposited into their account. During the pandemic, some agents experienced reduced commissions and hours, and demand for loans went up. For some, waiting seven days for funds was a challenge. With Dayforce Wallet, employees can now receive funds they’ve earned faster and with no added burden on A-MAX’s HR team.
“What we’re selling at A-MAX is financial security and wellness. Having insurance is the security and safety that our customers need,” says Carpenter. “Offering Dayforce Wallet is how we offer financial security and financial wellness to our employees.”
Brittney Watson, Assistant Call Center Manager at A-MAX, has a direct view into the value Dayforce Wallet is providing employees.
“When I heard about us providing this option to our employees, I was excited to be a part of it,” she says. “Last-minute needs come up all the time, and our employees may be caught between the proverbial rock and the hard place. Dayforce Wallet gives them options. They don't have to feel like they're stuck or have to wait until the next payday. It's a great option for them to consider instead of borrowing money from a friend or family member, or taking out a dreaded payday loan.”
Watson experienced the benefits of Dayforce Wallet first-hand when she used it to access funds to buy new car tires. “Instead of waiting until payday and putting my life in danger as I travel on the highways and byways, I just opened my Dayforce Wallet app and transferred the funds over. It was just that simple. I was able to get tires on my vehicle that same day.”
Watson sees how Dayforce Wallet can help employees avoid vicious debt cycles and start building financial wellness at this critical point in their lives. “There is no comparison between Dayforce Wallet and payday loans [as financial solutions],” she says. “Dayforce Wallet gives you access to the funds you've already worked hard to earn. This is your money that you now have access to a little earlier. The great thing is that there are no fees associated with it. There are no interest rates. There's nothing that I have to remember to pay back. There's no fear of defaulting on a loan.”
Carpenter, meanwhile, hopes offering on-demand pay will help set A-MAX apart in the market, and positively contribute to the company’s reputation. He sees opportunities for Dayforce Wallet to help with recruiting and retention.
“From a return on investment perspective, there’s no cost to implement Dayforce Wallet, other than a bit of your time,” he says. “Being able to reduce turnover automatically has a positive ROI based off just that calculation. And I anticipate that there will be a five percent reduction in turnover just by implementing Dayforce Wallet.”
A-MAX has already started using Dayforce Wallet to build brand loyalty among new hires. “It’s a huge motivator to our new employees.” says Watson. “When we go through onboarding and training and tell them we have a solution that provide them with their own funds in the event that they’re stuck in a tight financial situation, we see their eyes light up.”
That brand loyalty and positive reputation within its communities will come in handy as A-MAX looks to attract and retain top performers that can help power the company’s growth in the coming years. With offerings like Dayforce Wallet giving the company a competitive edge, and a unified HCM solution giving A-MAX access to real-time data and insights, Carpenter feels confident that the company is set up to drive success.