The Majority of Quick Service Restaurant Employees Are Stressed About Their Finances
Financial Stress is Negatively Affecting Their Health, Job Performance and Attendance
A new study from YouGov and DailyPay reveals the economic challenges facing quick service restaurant (QSR) employees during these uncertain economic times.
The research, which surveyed QSR and fast casual restaurant employees, indicates that the majority believe financial stress has had at least somewhat of a negative impact on:
However, in a sign of optimism, nearly half (45%) of those surveyed feel better financially in comparison to how they felt a year ago.
With hopes of their economic situation improving, only 14% expect to be in a financially worse situation a year from now.
How DailyPay Improves Financial Wellness and Supports Employees
The employer-sponsored financial wellness benefit of earned wage access can be helpful with personal financial challenges, according to the survey.
Over seven in 10 (72%) employees say the concept of earned wage access is somewhat or very appealing, with 56% saying getting paid more frequently at work than they currently do would be “very” or “extremely” beneficial to them.
The survey of QSR and fast casual restaurant employees also noted that about half (49%) would be very or somewhat likely to consider leaving their current employer for another employer that offers earned wage access, with 42% saying on-demand pay would be extremely or very important when looking for a new job.
YouGov conducted a 10-minute online survey on behalf of DailyPay, surveying 688 quick-service and fast-casual restaurant employees (e.g. cashiers, cooks, kitchen staff, counter staff, delivery staff, servers and drive-thru attendants) in September and October 2023.
See Why Top Companies Choose DailyPay
Greater financial control with access to 100% of their DailyPay balance to meet the challenges of unexpected financial disruptions.
Improve planning with visibility to spending and earned pay in one easy-to-use app.
No need for a pre-existing checking or savings account.
Minimal change to payroll processes — DailyPay handles it all.
Seamless integration with HCM, payroll, banking and benefit applications.
Enterprise-grade platform that keeps data private and the service running so it's always there when your employees need it.