For the first time, Fazoli’s hourly restaurant team members no longer have to wait until pay day to access and spend their earnings.
The brand known for serving up premium Italian dishes at a great value teamed up with DailyPay, a leading non-traditional payroll services provider, to allow hourly team members at all company-owned locations to access their earned wages on either the same day or next day. To opt into DailyPay, Fazoli’s associates simply download the App and sign up. There is no cost to enroll and no other charges unless the service is used.
“Many people in the service industry have been severely impacted by the pandemic,” says Fazoli’s Vice President of Human Resources Dave Craig. “At Fazoli’s, we were fortunate to remain open for business throughout, but many of our team members had family who lost jobs or had hours reduced and found themselves in need of cash to pay bills on time, purchase food or cover medical expenses. Payday loan providers can charge up to 18-22% interest rates for cash advances, but DailyPay enables us to get earned wages to our team members quickly at a fraction of the cost. It’s a simple and convenient way for us to support our Fazoli’s family.”
In just six weeks since launching DailyPay, 42 percent of eligible team members have enrolled. At the current rate of use, the iconic Italian brand estimates its team members will receive cash advances in the upcoming year totaling $800,000. So far, individuals have been using the service for day-to-day necessities, with 20 percent of cash advances going toward paying bills, 17 percent spent on transportation and 15 percent used on food.