Kensington Hill Capital LLC, a Jimmy John’s franchisee, has partnered with DailyPay to provide access to on-demand pay to its Jimmy John’s employees. Through this partnership, hundreds of hourly employees will now have the ability to receive their earned wages as they need it, rather than being bound by payday schedules.
Based in Columbus, Ohio, Kensington Hill Capital is the latest quick service restaurant (QSR) to implement daily pay benefits for its 43 Jimmy John’s restaurants across Ohio, Florida and Georgia. The benefit allows employees to pay bills on time, cover emergency expenses, and have more control over their finances. Recent research shows that employees with DailyPay stay up to 72% longer in their job. The data also shows that companies are able to fill positions 53% faster while 52% of job seekers polled saying they want an on-demand pay benefit in their next job.
“I’m always looking for ways to enhance our employee benefits, to make people’s lives easier,” said Brandon Stewart, Kensington Hill Capital’s president and COO. “I also have a very deep understanding, being in this industry, of what they go through – especially our part-time employees. The decision to add this benefit was a no-brainer.”
Help Wanted Everywhere
Three-fourths of restaurants (74%) say their top challenge is recruiting employees, according to the National Restaurant Association's mid-year supplement to the 2021 State of the Restaurant Industry Report. Operators have been offering incentives for new hires and added benefits for existing employees. Tech tools can help to increase job satisfaction for a more positive workplace culture, which is highly correlated to retention.
Kensington Hill Capital will leverage DailyPay to hire employees faster and retain them for longer. Companies who use DailyPay reduce turnover by an average of 62%, helping employers save on turnover costs and invest in their employees. At this time, 45% of Kensington Hill Capital’s employees are currently using DailyPay.
“QSRs are eager to support their hourly employees and we’re thrilled to be part of the equation. It’s so essential that we encourage financial wellness – we love to see partners like Kensington Hill Capital move the needle,” said Jeanniey Walden, Chief Innovation and Marketing Officer at DailyPay. “Employees are more engaged at the workplace and willing to stay longer when they don’t need to worry about paying Wednesday’s electricity bill when payday hits on Friday – with DailyPay, they can access their earned wages instantly – that’s financial freedom.”