Workers can budget and save money with popular Even app
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Noodles & Company is taking the instant pay movement one step further with the introduction of budgeting tools for workers.
The brand, which is known for offering a wide range of benefits for employees, is rolling out the app-based financial tool, Even, Sept. 25.
Oakland, Calif.-based Even, an app used by Walmart employees, allows workers to tap into money they’ve already earned – a benefit restaurant operators are adding to their arsenal of perks to recruit and retain workers. These tools are especially popular among Millennial and Gen Z workers, who have grown accustomed to on-demand services. New York-based DailyPay has about 500,000 workers enrolled in its instant pay program through operators such as Sprinkles Cupcakes, Burger King, Taco Bell and Boston Market.
Sue Petersen, vice president of human resources at Noodles, said the Broomfield, Colo.-based company wanted to offer more than a basic instant pay service.
That’s why it chose Even.
It will allow nearly 10,000 Noodles employees to set aside funds in a savings account.
“With our new financial wellness package, team members can benefit from InstaPay plus set aside funds for something special and create longer-term financial goals,” Petersen said in a statement. “We’re thrilled to deliver a benefit to help our team members succeed in their jobs and careers at Noodles, and in life.”
In early testing, Noodles said Even has encouraged some workers “to save for the first time in their adult lives.”
“We think this program will serve as a resource in helping team members with their immediate needs while also helping them plan and prepare for the future,” Peterson said.
The financial wellness tools are part of the chain’s Life@Noodles initiative aimed at making Noodles the most rewarding place to work in the industry. Other benefits include paid paternity leave, a “phase-out, phase-in” maternity leave program, student-loan debt assistance of $1,000 per year to general managers, breast milk shipment payment during business travel, flexible time off for corporate team members and adoption assistance of $10,000 (limited to assistant general managers and above who have worked a minimum of 12 consecutive months).
The company also takes a preventive approach to wellness with Balance Bucks, a perk that allows eligible Noodles employees to be reimbursed up to $650 for engaging in activities that promote a balanced lifestyle. Qualifying programs include gym membership fees, yoga, birthing classes, and hiking gear. Corporate employees are also allowed to bring well-behaved pets to work.
Noodles has more than 450 restaurants in the U.S.
Contact Nancy Luna at [email protected]
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