Posted on 10/26/2017 9:23:54 PM PDT by nickcarraway
McDonald's, Outback Steakhouse, and several dozen other food and hospitality retailers are using daily paychecks as a means to give low-wage workers more flexibility with their finances.
Steve Barha, CEO of Instant Financial, the technology company enabling retailers' move to same-day pay, said the option is partly meant to cater to a preference shared by millennial employees that quick cash is better than waiting two weeks for a lump sum.
"Basically, their life is real-time," Barha told Business Insider. "Their communication is real-time. Their transportation is real-time, with Uber and Lyft. So this program really aligns with their real-time life and being in control of their whole life experience."
(Excerpt) Read more at sfgate.com ...
A person would have to be totally insane ...... to go to McDonalds in this day and age!
Pay me a lunch time that way I trust the company for half the day and they trust me for the other half. Seems only fair.
Why not hourly, so they can quit after they get enough to buy a six-pack.
So they pay them 35 bucks to spend at Mickey D’s and some left over for crack? Wow, life is good huh?
I certainly don’t know this employment demographic but I would think this might just encourage people to quit without notice mid-week, especially if the job market is reasonably tight and they can get other fast food jobs easily when desired. Put some quick cash in their hands and temptation may overwhelm work ethic more and more often.
Bad idea. I, for one, need the discipline of waiting at least a week before I get paid, unless we are talking about second jobs here. I’m not a good saver. I admit it.
Millennials would not have liked our monthly paychecks at all. They’d have had to practice patience as well as budgeting over 4 weeks.
That’s why I always fleece you with a usurious payday loan.
When it’s your first job out of college, those monthly paychecks are killer.
Another ad for Instant Financial disguised as a newspaper article.
“Millennials” do not want to live paycheck to paycheck, but they understand instant gratification.
Fault of their parents and colleges that allows them to live their lives broke and poor, never learning the discipline that comes from a budget.
It may be a bad idea for you but other people may find it advantageous.
More specifically, with payment and accounting technologies these days, there is no reason for a company to defer wage payments for two weeks.
Why provide your employer with an interest free loan?
If there are plenty of such jobs available and that temps workers to move from job to job, then the employer can take measures to encourage their employees to stay under their employment.
Their drinks -- including coffee and ice tea -- are very good and quite cheap. The same goes for their cones.
"...very good and quite cheap..."
Yeah, like having to pay for transportation to/from work is something new...
Author glosses over the obvious fact that these millenials lack the basic skills needed to run their lives. “Real time”, my arse.
The “cones” thing is regional. Plain old softserv around here, now that the franchisees dumped the specialty vendor who supplied the premium dairy products.
In Germany people get paid monthly. Which is nice when you can go buy a lot of stuff.
Why should an employee wait two weeks to be paid when there is technology that makes it possible and cost effective for a company to pay workers daily?
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