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Boosting Employee Retention by 27%—Team Lyders/Sundance Inc.
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- Client Ultra Steak
- product instant tips
- client since 2020
How Team Lyders/Sundance Inc. boosted employee retention by 27% at 180 Taco Bells, with Instant Pay
Taking Tips Electronic – A Case Study with Ultra Steak
Large-scale franchisor Team Lyders/Sundance Inc. operates 180 Taco Bell restaurant locations in six different states. They understand what it takes to run a large-scale restaurant operation — and they know that it’s not possible without enough of the right people.
For Team Lyders, staffing and retention of their workforce was of paramount importance. For their young employees, waiting two weeks for a paycheck was frustrating and tiresome — an anachronism in an era of instant access to nearly everything else through a smartphone.
Making retention a serious priority, Sundance decided to partner with Instant Financial to implement Instant Pay, the earned wage access solution. With Instant Pay, employees would be able to access their pay every day easily and securely — at no added cost to the company.
Implementing the system at so many locations was no small feat, and Instant Financial had to provide flexible, responsive support throughout the process.
But Team Lyders’ fresh thinking paid off.
In just one year, retention shot up by 27.1% among Taco Bell employees who used Instant Pay.
A shortage of vital workers
Across all 180 of their Taco Bell restaurant locations, Team Lyders faced a serious problem with their most important asset — people. They were having trouble attracting and retaining workers.
The majority of the workers at all of their Taco Bell locations are younger, from the Millennial and Gen Z age brackets. Of course, quick money is everything to young people just starting their careers, but that’s not the whole story.
As digital natives, these workers are used to having technology — and answers — at their fingertips. That meant that having to wait two weeks for payday, on Team Lyders’ every-second-Friday pay schedule, just wasn’t cutting it. Taco Bell employees simply didn’t feel that the restaurant was giving them adequate reason to stay. In an effort to find a solution, Team Lyders decided to try out earned wage access (EWA). They hoped to gain an edge over their competition in their area and boost employee retention by giving employees greater control over their wages — instantly.
Flexible paydays, happier workers
With over 180 restaurants across six states, implementing EWA was a serious undertaking. Team Lyders considered multiple potential partners for the project, but Instant stood out.
The deciding factors? The zero-fee business model and flexible, comprehensive support provided during the transition period by the Instant team.
Under the new system, employees gained daily access to their pay, every single workday through Instant’s user-friendly smartphone app and secure Visa debit card. Employees gained financial flexibility, and greater control over their own money — no more waiting two weeks for payday!
Even better, there was zero associated cost to Team Lyders, since the system is funded through interchange fees made at the merchant level.
Despite the large scale of this implementation, Team Lyders shares that they felt supported every step of the way. “Whenever we came upon obstacles with the system or card, our rep worked to find us solutions,” Mack continued. “Instant has worked closely with us from the beginning of this journey.”
Retention for business growth
Without spending an extra cent, Instant Pay allowed Team Lyders to add more value to their workers’ employment.
By giving their employees faster, easier access to their own money, Team Lyders showed their workers that they not only valued their labor, but cared about their needs as people. Perhaps unsurprisingly, workers felt more satisfied with their jobs, and in turn were much less inclined to leave them.
Numbers don’t lie — within one year, retention was up 27.1% after Team Lyders’ Taco Bell employees began using Instant Pay.
Team Lyders’ strategy worked — by giving employees immediate access to their earnings, they boosted loyalty, morale, and retention.
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