Five Guys franchisee Life’s Food has introduced on-demand pay for its more than 200 employees, based across 23 locations in North Carolina, South Carolina and Tennessee.
Through a partnership with on-demand salary provider DailyPay, Five Guys staff in Life’s Food-run locations have been given the option to access their pay immediately after finishing a shift, in a bid to provide greater flexibility and help staff manage their finances.
The organisation made the move in order to support employees in paying bills, saving or investing, without having to rely on the traditional biweekly payroll cycle. It is also hoped the on-demand pay structure will help with retention and attraction during an ongoing talent shortage.
Employees can transfer 100% of their net earned income from their pay balance into their DailyPay account, excluding estimated taxes and other deductions.
Life’s Food’s existing benefits package also includes free virtual medical care, financial incentives for referring new employees, and designated ‘Caring Team’ members in every location to help with mental, financial and physical wellbeing.
Lori Fleming, human resources manager at Life’s Food, said: “We saw the value in partnering with DailyPay as it aligns with our company’s purpose: to enrich the lives of our employees and customers. DailyPay fills the void between pay cycles by providing employees the flexibility to access their earned wages at their convenience and it provides tools to educate and increase the financial wellness of our employees.”