Two Twin Cities tech companies are working together to create a tool that allows restaurant employees to instantly access their earned wages and learn financial wellness skills.
Minneapolis-based Branch is working with St. Louis Park-based Delaget on the project, which both companies say will help restaurants attract and retain hourly employees.
"As nearly 80% of hourly workers experience some degree of pay variance from week to week, a benefit like Branch can help them better manage those financial fluctuations," Branch CEO Atif Siddiqi said in a statement. "Working with Delaget has allowed us to quickly deliver financial wellness tools to operators and their employees, without piling on additional costs or disrupting processes."
Branch offers an app that helps hourly workers manage their schedules and get ahead financially. In 2018, the company launched Pay, a suite of features on its app to help hourly workers forecast and advance their pay.
Founded in 1990, Delaget offers management software that allows restaurant operators to improve the performance of their businesses. Its customers include KFC, Taco Bell, Pizza Hut, Five Guys, IHOP and more.
Branch and Delaget's new partnership allows them to provide restaurant employees with fee-free checking accounts, debit cards, budgeting tools and earned wage access. The service is free to operators and their employees. Businesses already using Delaget can begin providing employees with these benefits without requiring separate integration or replacement of existing systems.
The two companies say that restaurant operators offering these benefits have an edge when it comes to keeping restaurant staff.
"Turnover is a major issue in the restaurant industry, and operators are looking for compelling ways to attract and retain talent," Jason Tober, Delaget CEO, said in a release. "What's so exciting about this partnership is that when an operator leverages the Branch and Delaget integration, they get an immediate advantage over employers who don't offer those types of benefits, without having to manually upload time and attendance data themselves."
