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Why Earned Wage Access is Popular for Quick Service Restaurants

QSR employees might have a hard time making it from paycheck to paycheck. We can help.
July 23, 2020

Rain's Earned Wage Access (EWA) solution can work in any industry – but we’ve seen a lot of traction in the quick service restaurant (QSR) and fast food industries.

Employers often don’t have time to thoughtfully prioritize payroll and benefits. However using Rain to provide a financial wellness benefit can result in increased productivity, employee retention and increased job applications.

Improving Employee Productivity with Financial Wellness

It can be hard to motivate employees to pick up an extra shift or stay a little later and we understand that you can’t always afford to give everyone a raise. However, you can help to improve employee engagement and productivity by offering EWA through Rain.

EWA reminds your employees exactly what they can earn by picking up an extra shift or working an extra hour. In some cases, that extra hour might mean the difference between being able to pay a bill in full or not. If they have Rain, they can log in after their shift and withdraw wages instead of having to wait for payday. In return, they are often less stressed and more productive at work. Plus, employees who feel respected are more likely to wear a smile in front of customers. Having a robust benefits package is a huge step in showing your respect.

Reducing Turnover & Increasing Job Applications

Franchise groups often run into the unique problem of a disconnect between the group, the brand name, the individual locations, and the employees. When the franchise group offers a strong benefits package, employee loyalty can shift from the brand or their location to the franchise group as a whole – ultimately resulting in happier employees who are more likely to stick around.

If you’re able to tie a strong benefits package to your company, YOU become the company that job seekers want to work for. You may see an increase in job applications when you can cite things like “Earned Wage Access (or on-demand pay) available” on your listings.  

What KFC, McDonald’s, and Others are Doing

Some major fast food and quick-serve corporations have introduced their own financial wellness programs. The KFC Foundation has launched a financial education program, and McDonald’s, Taco Bell, and Chipotle are offering tuition assistance.

Rolling out these programs likely took a lot of time and effort from their corporate offices – and that’s time that franchise owners don’t typically have. Rain’s financial wellness tools are already built for you, so all you have to do is sign up.

Making a Difference in QSRs

Fast food and QSR corporations have often been under fire for lack of employee benefits or fair wages. Franchise owners have a unique opportunity to create strong, healthy work environments for their employees. EWA is a great example of a benefit that doesn’t cost the franchise anything while providing a useful service for employees.

Employees who are making minimum wage and working part-time might have a hard time making it from paycheck to paycheck. Giving them access to Rain means you may have less employees calling out of work because they can’t afford to put gas in their car or hire a babysitter. It also means your employees can be less stressed, more productive, and happier in their positions.

By signing up for Rain, you can be a part of the movement towards better benefits for fast food and QSR employees. Ready to make a difference? Chat with Rain today.

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