With annual turnover rates exceeding 70%, the hospitality industry is in a state of instability that has seemingly become the new normal. This constant churn isn’t just a drain of vital recruitment and training dollars, it leaves shifts understaffed, stressing remaining employees and ultimately degrading the guest experience.
Enticing employees to stay doesn’t have to add costs to the business or be an operational burden to implement. Adding a modern workforce benefit like earned wage access (EWA) is a simple and cost-free way to support workers, boost morale, and show them that their employer is invested in their happiness and financial well-being.
Why Hospitality Employees Leave
Hospitality workers often face irregular hours and unpredictable tips. Many live paycheck to paycheck and need more financial control. Perhaps they’ll look for a second job to increase their household income or seek a new role entirely. By addressing this root cause of churn – financial stress – employers can improve retention and boost morale.
The Competitive Edge: Earned Wage Access
Earned wage access allows workers to tap into their pay after they complete a shift. This flexibility helps them cover daily expenses or unexpected bills instead of stressing while waiting for payday to arrive. It’s not a loan and there are no credit checks required; just instant access to the wages they’ve already earned whenever they need it.
By offering EWA, hotels and restaurants can:
- Improve retention and job satisfaction
- Reduce callouts and no-shows
- Differentiate their brand for new hires
There are no direct or indirect costs for employers to add Keeper’s earned wage access platform to their benefits package, making it a zero-risk investment in employees’ financial well-being.
Setting up and maintaining Keeper is also a frictionless experience for the employer. We handle the integration, educate employees about their EWA benefit, and set up ongoing outreach to encourage account activation and engagement.
Learn more about this valuable retention tactic. Request a demo to see how Keeper helps hospitality teams stay staffed and satisfied.
