Steady Launches to Serve the Squeezed American Economy
Jul. 31, 2018
ATLANTA--(BUSINESS WIRE)--Jul 31, 2018--Steady, created to serve the more than 70 million Americans* who rely on multiple income sources and/or contingent work arrangements, today launches the free app that’ll put more power and opportunity in the hands of this massive and rapidly growing segment of the workforce. Steady has an extensive product feature roadmap, with the initial public launch of the app delivering personalized supplemental income-building opportunities, an income tracker, and exclusive relevant discounts geared toward the Build Your Own (BYO) workforce. In parallel, the Steady team will continuously build and advocate for this collective and diverse group in a way no one has ever done, helping financial and other products better serve their needs.
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Steady is the income-building platform for the Build-Your-Own (BYO) workforce (Photo: Business Wire)
“Due to wage stagnation, underemployment and continuously rising costs of living, too many Americans simply aren’t earning enough to live healthy financial lives, or are earning in ways that don’t map to traditional salaried careers,” said Steady CEO, Adam Roseman. “It’s a dangerous cycle, because the new method of work doesn’t align with existing consumer credit underwriting models that look for a single full-time W2 pay stub, so in addition to facing challenges in aggregating multiple incomes, this workforce ends up underserved and left out of the traditional consumer finance ecosystem.”
The Changing Work World
Work is changing. Full-time jobs are giving way to more flexible arrangements - shift work, part-time contracts, gigs, and an endless combination of these - that create income uncertainty; retirement resources aren’t cutting it for millions of Americans; and the resulting income mix throws people’s relationship to banks and financial products out of balance. Enter Steady.
Steady starts by helping BYO workers easily find and apply to income-building opportunities that work with their availability, abilities and interests. Whether augmenting retirement savings, working around childcare responsibilities, growing gig opportunities or supplementing insufficient income from a primary employer, Steady helps people earn more.
The new BYO workforce will be able to rely on Steady to:Build income: Discover and apply for extra income opportunities and shifts from large employers, small and medium businesses and the hottest startups (including the top 40 gig economy players) - filtered by location, interests, availability and goals and help to define their overall portfolio of work. Build networks: Monitor relevant community activity, learn from peers, uncover new opportunities and create connections that help maximize earning potential. Build buying power: Access a marketplace of exclusive benefits - from essentials like prescriptions and medical insurance, to daily expenses like groceries, and discounts on major expenses like auto care and telecom. Build financial cred: Navigating the BYO world can be challenging. Steady will later be rolling out its initial financial products and advice to optimize this lifestyle. As Steady serves this determined and hardworking group, it’ll advocate with financial institutions and other providers of key products that are currently hard to access without a traditional W2 job.
Work opportunities range from driving delivery with Postmates and DoorDash to child and pet sitting with Care.com and Rover to soon-to-be-announced part-time and seasonal retail, hospitality, logistics, food service and healthcare services work. Additional hourly, gig and part-time jobs will be added constantly.
Giving Credit Where Credit is Due
By providing tools for making, measuring and growing income, Steady is also building the case on behalf of this enormous - and growing - sector of the American economy to help secure better service from financial institutions and other organizations who aren’t equipped to determine creditworthiness or otherwise serve people with nontraditional income history.
“We can’t stand by as people are suffering simply for not fitting a model of work that’s no longer a reality for more and more Americans,” continued Roseman. “Steady recognizes that the folks taking initiative to build their own path are a hardworking and diverse group who’ll benefit greatly from products more tailored to their needs. Serving this group is essential for the future of the American economy.”
* McKinsey Global Institute
Steady is the income-building platform for the Build-Your-Own (BYO) workforce, helping people create financial stability and take charge of their future. Founded in 2017 by a team with deep experience in financial services and startups, Steady has partnered with some of today’s largest employers to give people more options. Anyone can sign up for free on Steady and find easy, instant access to the work opportunities and financial resources they need to grow, control, and stabilize their income. Find out more at www.steadyapp.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005269/en/
CONTACT: for Steady
Katherine Madariaga, 415-602-4395
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE HUMAN RESOURCES
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PUB: 07/31/2018 09:00 AM/DISC: 07/31/2018 09:01 AM