Torchy’s Tacos offers on-demand pay to employees

Austin-based Torchy’s Tacos offers hourly employees access to their earned pay as needed. Through a partnership with DailyPay, an on-demand compensation provider, Torchy employees have instant access to their pay as they earn it rather than waiting weeks for payday, according to a company press release.

“Employees are looking for more fulfilling work, and it’s up to brands to invest in their people and provide compelling incentives that not only support the worker, but their daily lives as a whole,” Elizabeth Baxter, Chief People Officer of Tacos de Torchy, said in the release. “Our new partnership with DailyPay will give our team members greater control over their finances and access to their pay to meet their individual needs and those of their families.”

With DailyPay, businesses are able to fill vacancies 52% faster than those that don’t offer a daily payment option, while enjoying a 50% reduction in revenue. Recent research commissioned by DailyPay with the Aite-Novarica Group found that 95% of those who once relied on payday loans or paid overdraft fees can break the debt cycle when they have a DailyPay option. As a result, 77% of employees who use DailyPay experience less financial stress, according to DailyPay.

Torchy’s Tacos has over 95 locations across Texas, Oklahoma, Colorado, Arkansas, Louisiana, Missouri, Kansas, Indiana, North Carolina and Tennessee.

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