ATLANTA – OCTOBER 17, 2023 – Pittsburgh-based restaurant, Primanti Bros. announced today that it has partnered with the pioneer of fee-free, electronic tips and earned wage access (EWA) solutions, Instant Financial, to provide their employees with real-time, instant access to wages and tips, immediately following their shifts.
As the restaurant industry continues to evolve amid today’s uncertain economic and labor landscape, many organizations are adopting new technologies to address changing employee expectations, with enhanced benefit offerings playing a central role. With no fees incurred by Primanti’s employees, the Instant Pay and Instant Tips solutions will give workers more control over how and when they receive their earned wages, all while helping to reduce employee turnover by upwards of 27%.
According to Nation’s Restaurant News 2023 Restaurant Technology Outlook report, over 1 in 3 restaurant operators recently indicated that improving retention is their top labor priority for the year. And more than one in four employees (26%) say it is likely they will change jobs in the next 12 months, up 19% from last year. With Instant Pay and Tips, Primanti Bros. is answering employee demand for optionality in how they get paid.
“We’re always looking for ways to enhance the benefits we offer current employees, while also making ourselves an employer of choice for job seekers,” said Will Bowker, Chief Restaurant Officer at Primanti’s. “Instant Financial is the ideal earned wage access and electronic tips provider for us, because their flexible fee-free model is the best solution for our employees, which in turn helps with hiring and retention.”
This new partnership comes at a time when economic challenges have employers across the country looking for ways to help their workers bridge the gap between paydays. A surge in inflation, coupled with an unprecedented shift in the labor market has accelerated employee demand for instant access to wages, and employers are focusing more than ever on employee retention. A 2022 study from Instant Financial found that 79% of working Americans would be interested in applying for a job that pays them the same day they work, a 30% increase compared to 2018.
“As the restaurant industry evolves, successful operators are adopting new technologies that easily integrate with existing processes, while addressing employee needs,” said Tal Clark, CEO, Instant Financial. “We are honored to partner with an organization that has such a rich history as they look toward an equally successful future.”
While employers and employees alike hope for more stable and predictable economic conditions, the recruitment and retention tactics employers have adopted are likely here to stay. The need for employer-driven financial wellness tools is long overdue for hourly and salary workers alike. Through responsible EWA, Instant Pay will enable Primanti Bros. to offer their talent the tools they need to take control of their financial freedom.
For more information on Instant’s fee-free pay solutions, visit www.instant.co.
About Primanti Bros
In 1933, Joe Primanti opened a lunch cart in Pittsburgh’s Strip District selling sandwiches to the hungry truckers who were coming and going at all times of the night. Encouraged by sales and positive feedback, Joe expanded to a small storefront where he was joined by his brothers Dick and Stanley and their nephew John DePriter. And that’s how the very first Primanti Bros. location was born – Primanti Bros. is dedicated to that early notion that folks deserve great food, with no pretense, for a good price. Learn more at https://primantibros.com/
About Instant Financial
Instant Financial is leading the charge to provide financial freedom and wellness to millions of workers in the United States through its earned wage access solutions. By enabling employers to allow employees to access their daily wages immediately after their shift, Instant Financial helps organizations improve retention and reduce absenteeism while helping employees take control of their financial freedom by bridging the gap between work day and payday. Learn more about Instant Financial at www.instant.co.
Alloy on behalf of Instant Financial