⏰ Est. reading time: 4 mins

💡 What you’ll learn:

• What earned wage access is and how it helps employees
• Why quick-serve restaurant employees are asking for this benefit
• The business benefits of earned wage access

The quick service restaurant (QSR) industry is fast-paced, competitive, and heavily reliant on hourly workers. With high turnover and increasing pressure to offer employee-centric benefits, restaurant operators and managers are searching for new ways to attract and retain talent. One solution that’s gained momentum is Earned Wage Access (EWA): the ability for employees to access a portion of their earned wages before their scheduled payday.

You might wonder why this has become such a sought-after benefit. But take a quick look at today’s economic climate and it’s not hard to understand. With the cost of living remaining high and the latest numbers showing that two-thirds of Americans are living paycheck to paycheck, it makes sense that hourly workers could benefit from faster access to their earnings. 

And unfortunately, this financial position forces many people to make short-term financial decisions that may not benefit their long-term goals. Case in point: according to a recent survey, nearly half of American credit card holders are carrying a balance from month-to-month. And the biggest reason for their ongoing balance is paying for emergency and everyday expenses. 

If you want to offer a benefit that truly helps your hourly workers, earned wage access is a way to make it happen. 

What Is Earned Wage Access?

Earned wage access (EWA) allows employees to access a portion of their earnings ahead of payday, rather than waiting for the traditional two-week pay cycle. With a few taps on a mobile app, employees can access part of their pay when they need it most. This allows them to:

• Get ahead of their bills
• Pay for emergent or unexpected expenses 
• Manage pay fluctuations without dipping into savings or credit cards

EWA is a way for employees to manage unexpected expenses or cashflow issues without needing to resort to high-interest credit cards or payday loans—two options that often prey on a person’s short-term financial insecurity in order to make long-term financial gain (interest) off of them. 

With EWA, employees are simply taking an advance of their own earnings ahead of payday, not locked into any contract or racking up debt. It’s money they’ve already earned—just on their schedule. 

Why Earned Wage Access Matters in the QSR Industry

While earned wage access is gaining popularity in many industries, it’s particularly valuable for the QSR space. With high turnover and high competition for talent, providing a perk like EWA can give your restaurant an edge by bringing meaningful benefits to both your business and your workforce. Here’s why EWA matters for the QSR space today:

Provides the financial wellness today’s workers crave

Today’s frontline workers are financially stressed—and they’re looking to their employers for help. According to a Transamerica Institute Report, 77% of workers see financial wellness benefits as crucial—even though only 28% of employers actually offer them. 

Additionally, restaurant workers tend to skew younger, with the latest data indicating that 40% of foodservice employees are under the age of 25, and 60% are under the age of 35. With three-fourths of Gen Z workers reporting financial stress—and 75% of millennials saying early access to wages would influence whether they would accept a job offer—it’s clear that a benefit like EWA is just what today’s restaurant talent wants to order. 

Boosts recruitment and retention

Offering EWA can differentiate your restaurant in a crowded job market. It’s a tangible benefit that shows employees you care about their well-being.  A survey from Insurica even found that 62% of workers felt more valued when they could access their earnings every day. And another survey found that 96% of employers felt offering EWA helped them attract new talent. 

A restaurant that offers EWA is positioning themselves as an employee-first organization. As Mary Lazzaroni, VP of Human Resources for Manna Hospitality Group notes, EWA has become table stakes to offer QSR workers. 

“The number one question that our applicants ask—especially younger applicants—is whether or not we have earned wage access. You will knock yourself out of the game if you’re not offering that to your employees.”

Read more of Manna’s story here. 

Improves shift coverage and engagement

Giving workers flexible access to their pay can motivate them to pick up extra shifts. If they know they can get paid sooner, they’re more likely to say “yes” to helping out. The satisfaction of having money in their pocket at the end of a shift—and at the tap of a button—can go a long way in boosting morale and upping employee engagement. 

At Branch, we’ve seen this impact firsthand: One large franchise group we work with, for example, saw a 60% uptick in shift coverage after implementing earned wage access. 

Providing financial relief can also create a more productive, engaged workforce. A survey from Bank of America found that 80% of employers agree that improving the financial wellness of their employees results in better performance and productivity.

Change Lives Without Changing Payroll: A No-Cost Way for QSRs to Offer Financial Wellness

As economic times remain uncertain and employee expectations continue to shift, traditional pay cycles won’t cut it. QSR employees will gravitate to the restaurants that offer financial wellness benefits like earned wage access—and your restaurant can be one of them.

EWA platforms like Branch are free for you and offer plenty of fee-free options for your employees. Getting set up is easy—and we integrate with most modern payroll systems. 

Branch also offers additional financial wellness tools like cashless tips and mileage, and more—so you can make faster pay part of your employee experience.  

With EWA, you can offer QSR employees a free benefit that not only addresses short-term needs, but can help them avoid long-term financial pitfalls like credit card debt or payday loans. You can send the message to prospective hires and existing employees that you care about their well-being—and they’re in good hands. 

For QSR leaders, the message is clear: Providing earned wage access is more than a perk—it’s a strategic advantage in a competitive market. 

Learn more about earned wage access here.