Country Fair cuts employee turnover by 22% with ZayZoon

Challenges

High turnover and financially stressed employees

The convenience store industry has notoriously high turnover rates. The National Association of Convenience Stores reported turnover rates for full-time and part-time employees in the industry averaged 141 percent in 2022.

Driving employee retention was a priority for Country Fair, whose customer-oriented mission was negatively impacted by the operational burdens caused by high turnover.

While Country Fair’s turnover rate was much lower than the industry standard, at close to 60 percent, the high costs associated with hiring and training new employees still presented the company with a challenge.

Financial stress among employees was another significant challenge, contributing to absenteeism and productivity issues. This is common for most workplaces today, as ZayZoon’s State of Employee Financial Wellness Report found that:

35 percent of employees are stressed about their finances daily
63 percent of employers said that financial stress negatively impacts employees’ performance at work.

Employees who experience financial stress are likely to not show up for work or have productivity issues during their shifts. This affects the consistent and high-quality customer experience Country Fair strives to provide.

Country Fair needed a cost-effective solution that drove retention and supported employees’ financial wellness.

Our solution

Earned wage access (EWA)

To help decrease employee turnover rates and manage hiring and training costs, Country Fair worked with ZayZoon to introduce earned wage access (EWA) to its employees.

When considering competitors, ZayZoon’s people-driven product, no-cost-to-employer model, and quick and easy onboarding process was the obvious choice.

ZayZoon’s emphasis on employee well-being, with features like fee-free early wage access through gift cards and bonuses, aligned with Country Fair’s commitment to supporting its team members. This was a key factor for Country Fair in choosing ZayZoon over other EWA providers.

ZayZoon offers fee-free gift cards that encourage employees to get early access to their wages via bonuses for gas or groceries. Our gift cards give employees more money than their regular paycheck.

Results

22% reduction in turnover with ZayZoon

The impact of ZayZoon’s partnership with Country Fair was immediate. A year-long analysis comparing Country Fair employees enrolled in ZayZoon compared to those who weren’t found remarkable results: employee turnover was 22 percent lower among employees who used ZayZoon.

This is a significant reduction in turnover, which directly contributes to better customer service offered by Country Fair. Reducing turnover means that Country Fair customers aren’t impacted by the gaps in customer experience that can sometimes occur during periods of hiring and training new employees.

Reduced turnover also reduces hiring and training costs, positively impacting Country Fair’s bottom line.

ZayZoon helps Country Fair employees manage their financial wellness

Country Fair integrated ZayZoon into their employee orientation, ensuring new hires were introduced to EWA on their first day of work. This process boosted adoption rates to 37 percent, helping over a third of their workforce access immediate financial support.

Country Fair employees found that access to ZayZoon’s EWA helped them manage financial emergencies. One employee’s car battery stopped working on his way to work—a nightmare in the tough winters of Erie, PA. Because this employee had access to ZayZoon’s pay on-demand, he received an immediate pay advance that helped him fix the issue and get to work.

Other employees didn’t have gas money for the week, but by using ZayZoon’s gift cards, they could make it to their shifts.

ZayZoon’s earned wage access helps Country Fair employees manage instances of financial stress, enabling them to be more present at work.

“I think [ZayZoon] helps our company in that [it helps] people to come to work," says Steve Seymour, Country Fair's Director of Personnel Training & Development. "Call-offs hurt in a convenience store because customer service is lost when you’re short-staffed. So for people to be able to get access to their pay to get fuel, a new battery, that’s kind of a big deal.”

Empower your employees with earned wage access

ZayZoon’s earned wage access made a difference for Country Fair because it provided a meaningful benefit that helped employees close gaps between paydays. By doing so, ZayZoon directly improved employees’ financial wellness and job satisfaction while decreasing costly turnover and absenteeism rates. It's a win-win for employers and employees!

If your organization is dealing with financially stressed employees or turnover and engagement issues, give your team an impactful solution with ZayZoon.