The quick-service restaurant (QSR) industry is always evolving. Keeping up with wage increases, maintaining staffing levels, implementing the latest and greatest in AI tech – leaders have a lot to think about. But one thing industry leaders are discovering is that financial wellness benefits—particularly early wage access—are becoming a crucial differentiator in their employee retention strategies.
The ability for employees to access their paychecks early isn't just a trendy perk; it's transforming how QSR businesses attract, retain, and engage their workforce.
The Growing Importance of Financial Flexibility
“As an employer, we needed to adjust to meet our employees' needs and attracting our candidates,” said a VP of HR at a prominent Qdoba franchise. “Giving people access to earned wages where it's available at a pulse was one more benefit that we could offer to candidates and employees. I think it was about adjusting to what needs we saw with the population of employees that we employ and we're looking to attract.”
This sentiment echoes across the industry as QSR operators recognize that financial stress directly impacts workplace performance and turnover rates. According to a recent industry survey, 78% of QSR workers reported experiencing financial anxiety that affected their work performance.
Real Results in Employee Retention
For TJ Wolf, a McDonald's franchise with 16 locations across the West Virginia area, the implementation of an early wage access program yielded immediate benefits.
“The ability for our employees to access their pay between pay periods when they really need it and the Tapcheck process being super easy on my end, makes it a win-win,” said Becki Carpenter, a payroll director for the franchise. “Over 50% of our employees have registered with Tapcheck, and among those registered, 67% use the benefit every pay period.”
Carpenter also noted that when employees are taken care of, the organization sees an uptick in morale, productivity, and retention at the store-level.
This benefit has proven particularly effective when considering how to retain employees in an industry notorious for high turnover rates. The National Restaurant Association reports that the average cost of replacing a single QSR employee can range from $1,500 to $2,000 when accounting for recruiting, onboarding, and training expenses.
Beyond Simple Access to Earnings
Progressive QSR leaders emphasize that effective early wage access programs go beyond just providing funds between paychecks.
“Tapcheck has helped us with retention,” says Cathy Remedies, Director of Operations Services for a Taco Bell franchise in Texas. “Our employees are calling out of work less because they can get the funds they need before payday to take care of what they need. They can pay their house note, their car note, overdue water bill, and anything else without having to take out a payday loan or look for a second job. We have happier employees because of it.”
This holistic strategy addresses one of the key questions leaders face when considering how to retain employees: creating an environment where workers feel valued and supported beyond their essential job functions.
Implementation Considerations
QSR operators implementing early wage access programs are often surprised at how easy it is to bring the benefit to their employees:
“Integration was seamless,” says Carla Duran, a back-office executive for a Jack in the Box franchise. “We didn’t have to do much on our end, which was important, as our owner didn’t want the administrative staff workload to increase. There was no waiting or lag time [during setup], which took a headache off our plate and ensured accuracy of the payroll helpful information.
Other leaders emphasize the importance of clear communication of the benefit to prospective employees. "I think it's attractive to new applicants," says Jessica Pike, HR Director for Grill Concepts restaurant group. "It is in our job postings so they see that when they're applying for the job, they know they can work today and get paid tomorrow."
The Future of QSR Benefits
As competition for reliable workers intensifies, industry experts predict that financial wellness benefits like early wage access will become standard offerings rather than exceptional perks.
“This benefit is crucial to our employees and their financial wellness,” says Melissa Gentry, a payroll executive for a large Sonic franchise. “Before we started offering on-demand pay, we had employees actually calling us and asking for it. Our employees need this benefit, so it was vital that we found a partner who made integration simple and had support we could count on."
For QSR leaders facing staffing challenges, the message from their peers is clear: early wage access represents more than just a trendy benefit—it's becoming an essential tool in building a stable, engaged workforce in an industry where talent retention has traditionally been challenging.
Interested in learning more about how Tapcheck can improve your employee's financial well being? Request a Demo.
