After experiencing no-shows, tardiness, and turnover, Milo’s leadership decided to offer ImmediatePay in an attempt to negate financial barriers that keep employees from thriving in the restaurant. 44% of Milo’s employees enrolled in ImmediatePay, and managers are impressed by the personal impact and positive business results:
Since the launch of ImmediatePay in January of 2023, a total of $424,978 dollars of earned pay has been accessed by Milo’s employees. The average transaction amount is $96.86, reflecting the convenience, need, and practicality of ImmediatePay in meeting immediate financial needs.
ImmediatePay has had a significant positive impact on employee engagement at Milo’s. According to a survey conducted among employees, 83% reported being more engaged at work as a direct result of ImmediatePay–demonstrating how financial stability translates into increased focus, motivation, and overall job satisfaction among employees.
One of the key advantages of ImmediatePay for Milo’s is the impact it has had on employee attendance. An impressive 81% of Milo’s employees reported being more likely to show up for their shifts because of ImmediatePay. By providing access to earned wages prior to payday, ImmediatePay reduces financial stress and removes barriers that may prevent employees from attending work consistently.
An overwhelming 86% of employees who used ImmediatePay transactions reported doing so out of necessity. This demonstrates the critical role ImmediatePay plays in assisting employees with essential expenses such as bills, groceries, and unexpected emergencies. With a high enrollment rate and substantial transfer amounts, ImmediatePay has proven its value as an effective financial wellness benefit for the team at Milo’s.
Data reveals an increase in employee engagement, improved attendance, and predominant usage for essential reasons, which highlights the positive impact of ImmediatePay on Milo’s employees’ overall well-being. By prioritizing financial stability and empowering employees with real-time access to their earned wages, Milo’s has set a new standard in supporting the financial wellness of its workforce.
Immediate is trusted by leading companies to help recruit & retain talent with ImmediatePay, a financial wellness benefit that allows employees to access their pay between paydays. Book a call today to learn more!