NPC Launches PayActiv Financial Wellness Benefit to 37,000 Employees
NPC International, the nation’s fifth largest restaurant operator, has added PayActiv, an award-winning fintech company with a unique “earned wage access” financial wellness benefit, to its list of employee benefits. NPC launched the benefit to its full employee base – more than 37,000 employees across 27 states – on November 25.
The PayActiv benefit is an employer-sponsored financial wellness offering that includes flexible, before-payday access to earned but unpaid wages together with a suite of additional services like prescription discounts, Uber rides, Amazon purchases, saving and budgeting, financial counseling and literacy, and more. PayActiv is accessible via website and mobile app.
“At NPC, our priority is our people, so we are proud to support our employees by offering PayActiv to every member of our team,” Carl Hauch, CEO of NPC International – Wendy’s, said. “We’re working to make it easier to achieve financial stability by avoiding the fee and debt traps, which reduce our employee’s take-home pay. As we tested this program, crew members shared anecdotally that the app gave them the tools to navigate through a tough financial spot.”
Nearly 70% of workers say they’re stressed financially and more than 50% say it’s affecting their work. Timely access to earned wages helps employees avoid bank charges, late bill fees and high-interest loans, significantly lowering stress and improving overall employee wellness.
“We continue to look for unique ways to make NPC the employer of choice,” Jon Weber, CEO of NPC International – Pizza Hut, said. “In the first weeks of launch, more than 10% of employees had taken advantage of this benefit, including accessing more than $578,000 in earned wages before payday. PayActiv helps our team members prepare for unexpected expenses by accessing their pay as they need it and saving for emergencies.”
In addition to earned wage access, PayActiv empowers workers, many of whom are unbanked, to manage their finances with security using the platform’s goal-based savings and budgeting tools. They also provide access to important financial planning guides and tips as well as one-on-one counseling with financial experts.
About NPC International
NPC International, Inc. is the largest franchisee of both Pizza Hut and Wendy’s in the United States with 1,225 Pizza Hut units in 27 States and 393 Wendy’s units in seven states plus Washington, D.C.
About PayActiv Inc.
PayActiv’s mission is to bring security, dignity and savings to low-income workers through an award-winning holistic financial wellness platform that gives employees on-demand access to earned but unpaid wages. Businesses that partner with PayActiv see significant cost reductions through increased recruitment, engagement and retention. Employees love PayActiv because it eliminates the expensive between-paychecks tolls of payday loans, bank overdrafts and late fees. PayActiv also offers a suite of financial services that include savings and budgeting tools, bill payment and financial health measurement. PayActiv has won best in class awards in both FinTech & HRTech and is the provider for Earned Wage Access to Walmart. PayActiv’s documentary film It’s About Time looks at pay timing and its correlation with epidemic financial stress being experienced by millions of working Americans.