In today’s fast-paced world, immediate accessibility is the new norm, and TipHaus is bringing this concept to the restaurant industry with Earned Tip Access™ (ETA). ETA ensures your restaurant employees receive their well-deserved tips promptly, eliminating the waiting game.
ETA is a game-changer, empowering managers and operators to pay their staff daily tip earnings, revolutionizing the process, and boosting employee satisfaction and trust. In this blog, we’ll explore how ETA works and the benefits it brings to both employers and employees.
The Power of Pre-Calculated Tips
The foundation of ETA lies in pre-calculated tips. With TipHaus’s cutting-edge technology, every tip detail is synchronized with your point-of-sale (POS) system in real-time. Each employee’s tip earnings are automatically pre-populated based on your tip logic and the daily sales and tip earnings. This eliminates the need for manual calculations, tedious spreadsheets, and reduces the risk of errors and flawed employee records. Managers can rest assured that the tip data is accurate and ready for review at the end of their employees shift.
Daily Payouts for Managerial Peace of Mind
One of ETA’s standout features is the daily payout schedule. Managers initiate payouts the morning after a shift, with funds automatically debited from the operating account and deposited into employees’ accounts. This system ensures timely compensation and alleviates financial stress for employees.
Managers play a vital role in maintaining the payout accuracy. They diligently review total tips, confirming the absence of errors or discrepancies in employee records, and then initiate payouts. This quick verification process enhances trust and transparency within the system.
The Employee Mobile App: Empowering Your Workforce
To enhance employee satisfaction and trust, ETA offers a dedicated mobile app. This app is designed with employees in mind and provides a range of benefits:
- Real-Time Tip Data: Employees have access to real-time information about their tip earnings. This transparency promotes trust and allows employees to track their income effectively.
- Reduced Disputes: With 95% immediate reduction in employee-manager tip-related disputes, the app fosters a harmonious work environment.
- Peer-to-Peer Transfers: Employees can easily send tip earnings to one another, facilitating teamwork and camaraderie within the workplace.
- Proof of Income: The app serves as proof of income for various purposes, including housing, car loans, and spousal support, making employees’ lives easier outside of work.
- Seamless Enrollment: Employees can enroll in HausDirect or Hausmoney directly from the mobile app, allowing them to choose the payout method that best suits their needs.
Two Flexible Payout Options for Employees:
TipHaus understands that every employee’s financial situation is unique. That’s why we offer two flexible payout options for your employees to choose from.
Hausmoney is ideal for employees who are underbanked or dissatisfied with their current bank. Hausmoney is the restaurant industry’s revolutionary financial platform, offering instant access to wages and tip earnings, hassle-free direct deposits, and fee-free checking and savings accounts with up to $250,000 insurance. Hausmoney empowers restaurant professionals to take control of their finances effortlessly.
Hausdirect is suited for employees who are content with their current banking provider and value convenience. Hausdirect provides a convenient method for you to receive your tip earnings from your employer ahead of the regular payroll schedule. When you enroll in Hausdirect, you set up an existing or preferred debit card where you’d like to receive your tips. In return, we use this designated debit card to transfer your tip earnings whenever your employer initiates a payout.
Why restaurants are loving ETA
Save Time, Eliminate Errors: Say goodbye to hours of manual tip calculations and dreaded spreadsheet errors. With a single click, your employees receive their tips directly in their bank accounts – no hassle, no fuss.
Turnover Tamed, Savings Saved: High employee turnover can be a pain, but TipHaus has found a way to alleviate the issue. By offering instant tip access, restaurants can reduce turnover rates while saving money that would otherwise be spent on overpayments.
Wave Goodbye to Cash Shortages: Cash shortages can be a real hassle for restaurants, with bank runs and scheduling cash deliveries becoming time-consuming burdens. But fear not! Earned Tip Access™ guarantees that you’re equipped to pay your staff instantly and with pinpoint accuracy, without the fuss.
No Hidden Costs, Just Convenience: We understand that hidden fees and funds can sour any deal. That’s why Earned Tip Access™ is offered completely free of charge to all TipHaus customers. No need to worry about daily dollar deductions or hefty pre-funds.
Financial Health Reimagined: The restaurant industry is stepping into a new era where staff empowerment, streamlined transactions, and financial ease merge seamlessly. Say goodbye to the old way of doing things and embrace the efficiency, transparency, and convenience of TipHaus’s ETA™.
In conclusion, Earned Tip Access™ is revolutionizing the way restaurant employees receive their tips. By providing daily payouts, a user-friendly mobile app, and flexible payout options, ETA not only enhances employee satisfaction and trust but also streamlines the entire process for managers and operators. It’s a win-win solution that fosters a transparent work environment, setting the stage for success in your restaurant. .