Noodles & Co. will give its nearly 10,000 employees access to instant payment and other “financial wellness” tools under a new program that rolls out later this month, the fast-casual chain announced Thursday.
In addition to early paychecks, the tools from pay-advance app Even will help employees managing their money through budgeting and organizational guidance. Employees at the 450-unit chain will have access to the resources beginning Sept. 25.
“We wanted to offer more than the basic instant pay service some restaurant companies are trying out,” Sue Petersen, vice president of human resources for Noodles, said in a statement. “With our new financial wellness package, team members can benefit from InstaPay plus set aside funds for something special and create longer-term financial goals. … In testing this program, team members anecdotally shared that the app encouraged them to save for the first time in their adult lives.”
The Broomfield, Colo.-based chain has added several employee benefits in recent years, including $10,000 for adoption assistance, paid paternity leave, phased maternity leave and full pay for six weeks of maternity leave.
A number of other chains are testing or implementing daily pay options, including Burger King and Taco Bell, as the restaurant industry grapples with employee recruitment and retention challenges.