Socially responsibly investment firm with an emphasis on diversity, addresses inequities of hourly workers
BOCA RATON, Fla., Jan. 16, 2023 /PRNewswire/ -- High-performing investment firm Black Dragon Capital℠, which has a diverse leadership team at the helm of its unique combination of intense operating expertise, socially responsible investing, and an impressive track record of investment success, today published a white paper on the significant disconnect between the importance of frontline hourly workers, and their job satisfaction and economic realities. The firm makes control investments in growth sectors disrupted by digitization and has created unique approaches to launching and developing high potential early-stage companies. It also places a special focus on investing in technology areas that address social issues and strengthen diversity within communities.
The advent of great resignation has exposed the significant disconnect between the wages for frontline hourly employees and the importance of their role in representing companies of all sizes to their customers, their brands, service quality and therefore revenue and income. Hourly frontline workers are among the most dissatisfied and greatest participants in the great resignation. While companies tried to meet their demands of fair compensation, livable wages, and improved benefits, the rising cost of living has made many hourly workers susceptible to payday lending.
In this white paper, Black Dragon Capital℠ Founder and CEO Louis Hernandez, Jr. and Black Dragon Capital℠ Advisor Hernando Torres go beyond opening the discussion about the challenging reality faced by hourly workers in America. They highlight a winning scenario where new technologies will be able to allow hourly workers to better manage their cash needs between traditional pay periods, efficiently make financial decisions for themselves, and increase their sense of financial health and stability.
Among the new technologies highlighted is a proprietary HR retention and payment network that provides employers with an advanced technology platform that creates a powerful employee retention tool from VEEP.
VEEP allows hourly employees to access earned wages as they are earned, at a dramatically lower cost, securely through the regulated community banking network, while avoiding any sale of personal information about the employee. This allows all wage earners, particularly underprivileged and underrepresented groups, to better manage their cash needs between traditional pay periods.
“Central to our core mission, VEEP platform was created as a means of putting an end to the predatory practices and short-term payday loan for hourly workers employees. At the same time, the platform assists employers in retaining staff and reducing employee turnover,” says Moris Chemtov, Founder and Chief Strategic Officer (CSO) of VEEP.
“Many of our most important frontline employees are more impacted by recent inflation on basic necessities such as rent, food, heating and childcare. This makes them more susceptible to payday lending and other proprietary lending practices which accelerates a downward spiral and puts in jeopardy key representatives of brands and revenue within businesses around the world. By writing this white paper, we hope to create a meaningful discussion about this struggle while also presenting better, safer alternatives through new technologies,” says Louis Hernandez, Jr., Founder and CEO of Black Dragon Capital℠.
About Black Dragon Capital℠
Black Dragon Capital℠ ("BDC") is a high-performing private equity firm founded and led by a diverse manager and team who have a track-record of outstanding operating and investment success. They make control investments in mid-market technology companies in growth sectors disrupted by digitization and have created unique approaches to launching and developing early-stage companies. With an emphasis on diversity, they focus on high potential early-stage companies, and have an entire team dedicated to helping every aspect of the company’s growth and development.
Aren Wong
Marketing Manager, Black Dragon Capital
awong@blackdragoncap.com
SOURCE Black Dragon Capital