Boosting Employee Retention by 27%—Team Lyders/Sundance Inc.
Team Lyders/Sundance Inc., the owner of 180 Taco Bell locations, understands what it takes to run a large-scale restaurant operation — and they know that it’s not possible without enough of the right people.
Making retention a serious priority, Sundance decided to partner with Instant Financial to implement Instant Pay. 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. That in turn resulted in a 27% decrease in turnover.
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What the case study includes
For Team Lyders, staffing and retention were 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.
In an effort to find a solution, Team Lyders decided to try out an earned wage access solution – Instant Pay. 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.
Within a year of using Instant Pay, Team Lyders saw a 27% decrease in employee turnover.