QSR October 2022

S P ON S O R E D B Y R E L L E VAT E

To Retain the Best

T he backbone of the restaurant industry is its workers. That’s a reality the CO VID-19 pandemic and the subsequent labor shortage drove home to any operators whomay have been reluctant to acknowledge it beforehand. “It’s time for employers tocatchupwith the times and start treating front-line associates likekings andqueens,” says Stewart Stockdale, co-founder, chairman, and CEO of Rellevate, a digital banking services platform. “I’ve run Fortune 500companies, andwe’ve always said hourly employees need to be at the top of the pyramid.” Restaurants depend on their employees bringing their best every day. To do so, people need to feel safe, empowered, and valued. What’s more—if they aren’t getting those needs met, they’ll take their work to the next company or industry. As the gig economy grows stronger, theflexibilityofworkingonan as-needed basis is drawingmany people away from shift-based work—and replacements aren’t so easy to come by anymore. The U.S. BureauofLaborStatistics recently foundthere are 1 million fewer workers in the hospitality industry today than in2019. “The world is changing, and the quick service industryhas torethink itsemployment practices,”Stockdale says. “To say that ‘people don’twant towork’ is shortsighted. Peoplehave Employees, Exceed Their Expectations Better benefits, including faster pay, show that your brand understands and respects its hourly associates. / BY KARA PHELPS

real reasons theystoppedworkingor switched industries—fromnot wanting to get sick from face-to-face interactions and covering child care needs to needing more flexible hours, benefits, andon-demandpay.” Replacing former employees is a costly line item. Arecent casestudy fromRellevate found eachnewhourlyquick-servicehire is a$2,000 expense. With turnover rates in the quick service industry exceeding 100 percent, that compounds quickly. So restaurants are raising pay, improving benefits, and getting creativewithother perks. Formany lower- andmiddle-incomeworkers, higher wages make a big difference—and so does faster pay. According toCareerBuilder, 78 percentofAmericanslivepaychecktopaycheck, and44percent havenot beenable to save$400 in case of an emergency. If theseworkers have a single unforeseen expense, like a car break ing down or a child getting sick, theymay have

nowhere to turn. Predatory payday loans can charge250percent interest. “If youwant to retainyour best employees, you have to offer better benefits, including fasterpay,”Stockdalesays. “Asenseof urgency in terms of pay is extremely important. If I’m an employee, I want to get paid right away—I don’t want to wait two weeks. It’s not just the amount of pay that counts, but also when and howI get paid.” Rellevate’s Pay Any-Day and the Rellevate Digital Account allow employees to receive pay on their terms without taking out a loan. It is an advance. For employers, it is zero-cost to execute, and provides employees security withinuncertaintybyo eringafinancialwell ness benefitwithminimal fees. “If you reallywant toattract and retain the best and brightest, you need to go above and beyond,” Stockdale says. “Rellevate can help quick-service brands get there.” ◗

To learnmore, visit rellevate.com.

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OCTOBER 2022 | QSR | www.qsrmagazine.com