honeygrow, the Philadelphia-based fast-casual concept, is joining forces with DailyPay – which claims to be the leader in on-demand pay.
Through this partnership, honeygrow’s restaurant employees can now “access their earned pay after completing a shift.”
Ultimately, DailyPay‘s benefit “allows employees to access their pay as they earn it, eliminating the need for payday loans and overdraft fees as they can pay bills, save, spend, or invest on their own schedules.”
Justin Rosenberg, Founder and CEO honeygrow, said:
“Customers have many choices in the QSR and fast-casual space. The strength of a restaurant’s employees is a primary differentiator when making that choice. We want our team to be happy and set up for success. As we’ve seen folks positively react to the idea of on-demand pay, DailyPay simply made sense.”
Founded in Philadelphia, Pennsylvania, honeygrow is “an emerging, fast-casual restaurant with 29 locations throughout Delaware, Maryland, Massachusetts, New Jersey, New York, Pennsylvania and Virginia.”
The company will “utilize DailyPay as a financial wellness benefit for its employees.”
With DailyPay, honeygrow employees “will be in the driver’s seat of their financial health.” A survey conducted by DailyPay “found that 85% of those who use a daily pay benefit claim that it enables them to budget and pay large monthly bills like rent, utilities and car payments.”
honeygrow is “among the latest QSRs to implement DailyPay.” In doing so, honeygrow can “remain competitive in attracting and retaining skilled talent.”
DailyPay’s survey “found that employers who provide on-demand pay through DailyPay are able to recruit and fill open positions in half the time (52%).” The survey also “found that 74% of DailyPay users say having access to their earned income has helped reduce their financial stress, making them more productive at work.”
In another update from earlier this month, it was revealed that BJ’s Restaurants, Inc. (NASDAQ: BJRI), a national restaurant brand and pioneer in the craft brewing world, announced its partnership with DailyPay.
Headquartered in Huntington Beach, California, BJ’s Restaurants, Inc. “owns and operates 214 casual dining restaurants across 29 states.”
By offering DailyPay as a benefit, BJ’s team members can now “access their pay immediately after completing a shift, enabling them to pay bills, save, spend, or invest on their own schedule.”
Jake Guild, Senior Vice President and Chief Accounting Officer, BJ’s Restaurant and Brewhouse, Inc., said:
“At BJ’s Restaurant & Brewhouse, we’re committed to offering an exceptional culture for our more than 22,000 valued team members. Having the ability to access pay on demand is a game-changer for our team members, who take great care of our guests every day. We are proud to be the first U.S. restaurant brand to roll out this innovative and easy-to-use pay system nationwide.”
According to DailyPay’s Job Satisfaction Index, restaurants “saw one of the highest hiring rates of all industries tracked (26%).”
The partnership “allows BJ’s to remain competitive on the job market. According to a survey conducted by DailyPay, employers are able to hire up to 2x faster than those who don’t offer an on-demand pay benefit.”
For employees, 85% of users said DailyPay “makes them more able to budget.”