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Torchy’s Tacos, the popular Austin-based brand known for its Damn Good Tacos and addictive Green Chile Queso, has partnered with DailyPay – the leading provider of on-demand pay – to provide its hourly employees with access to their earned wages as they need it.
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Torchy’s Tacos is growing its U.S. footprint with over 95 locations in 10 states, and this partnership enables its employees to have instant access to their wages as they earn them rather than waiting weeks for payday. As a result, employees will be able to have more flexibility and control over their finances to suit their individual needs.
“Employees are looking for more fulfilling work, and it’s up to brands to invest in their people and provide compelling incentives that support not only the worker, but their day-to-day lives as a whole,” said Elizabeth Baxter, Chief People Officer of Torchy’s Tacos. “Our new partnership with DailyPay will empower our team members with more control over their finances and access to their pay to suit their individual needs and that of their families.”
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With DailyPay, companies are able to fill open positions 52% faster than those that don’t offer a daily payment option, while experiencing a 50% reduction in turnover. Recent research commissioned by DailyPay with the Aite-Novarica Group shows that 95% of those who once relied on payday loans or who paid overdraft fees can break the cycle of debt when they have a DailyPay option. As a result, 77% of employees who use DailyPay feel less financial stress.
The majority of Fortune 200 companies that have an on-demand pay benefit offer DailyPay, including 7 out of 10 of the country’s largest quick-service restaurant chains.
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