Gun Lake Casino Partners with Instant Financial to Provide On-Demand Pay
Thursday, March 23rd, 2023
As the travel and tourism industry bounces back from the challenges faced during the height of the pandemic, and many organizations in the hospitality sector are stepping up their recruiting efforts, Gun Lake Casino today announced that it is partnering with responsible earned wage access (EWA) pioneer Instant Financial to provide their employees with the option for real-time, on-demand access to same-day pay. With no fees incurred by the casino’s employees, the Instant Pay solution will give workers more control over how and when they receive their earned wages, all while helping to reduce employee turnover by upwards of 27%.
“As we approach the 25-year anniversary of federal recognition of the Gun Lake Tribe, we are excited to continue our expansion through the addition of a hotel, spa, additional food and beverage options along with the one-of-a-kind Wawyé Aquadome which begins transforming the casino into a regional resort destination for the Midwest,” said CEO Sal Semola. “Our partnership with Instant Financial will give us a valuable recruiting tool, as we increase hiring efforts for the casino and resort, as well as provide current employees with more flexibility to control when and how they receive their earned wages.”
This new partnership comes at a time when economic challenges have employers across the country looking for ways to help their workers bridge the gap between paydays. A surge in inflation, coupled with an unprecedented shift in the labor market has accelerated employee demand for instant access to wages, and employers are focusing more than ever on employee retention. A 2022 study from Instant Financial found that 79% of working Americans would be interested in applying for a job that pays them the same day they work, a 30% increase compared to 2018.
“The pandemic, coupled with a 40-year high in inflation, has exposed an extraordinary level of financial anxiety within the U.S.,” said Tal Clark, CEO, Instant Financial. “More and more families are living paycheck to paycheck, and as we look ahead, there is a fear that things may get worse before they get better. Responsible earned wage access can bridge the gap between paychecks, relieving some of that financial anxiety.”
While employers and employees alike hope for more stable and predictable economic conditions, the recruitment and retention tactics employers have adopted are likely here to stay. The need for employer-driven financial wellness tools is long overdue for hourly and salary workers alike. Through responsible EWA, Instant Pay will enable Gun Lake Casino to offer their talent the tools they need to take control of their financial freedom.
