Will Instant Pay for Employees Be an Instant Benefit or Burden to Restaurants?

There is an increasing number of restaurants that are instituting the option of instant pay for their employees. Restaurants are giving their staff the ability to instantly withdraw earnings in advance of employees’ regular paydays via pay-on-demand apps integrated with their payroll systems,.  There are a few different ways this type of instant pay can be structured.  It can be an employee-paid system wherein each employee pays a minimal fee to withdraw money per transaction or via a monthly fee, it can be set up internally and paid for by the employer, or it can be a combination of the two.  

Outback Steakhouse, McDonalds, Church’s Chicken, Pizza Hut and Checkers restaurants have all been engaged in some form of instant pay for their employees. Some of these restaurants have reported that the benefits to offering early access to pay has included better retention, attraction of more talent, and a reduction in turnover. With many restaurant employees living paycheck to…