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The Nashville Predators hope their latest power play leads to a win for their employees.
The NHL team and the Bridgestone Arena where it plays partnered earlier this month with DailyPay to offer their employees an earned wage access (EWA) benefit. Courtni Mosley, the Nashville Predators’ CPO, told HR Brew the move is part of the organization’s strategy to stand out as an employer of choice.
“There’s no denying that the job market is tough out there for employers, and has been in the past couple of years,” she said. “Our business has nontraditional hours associated with it…We have to get creative [with] what we can offer our employees and candidates to make us stand out as an employer where people want to come, and they want to stay.”
Part- and full-time employees of the Nashville Predators and Bridgestone Arena making less than $200,000 per year are eligible to participate in the EWA program. (Sorry, Filip Forsberg—your $10 million left wing salary puts EWA just out of reach.)
The Nashville Predators first launched an EWA benefit in 2021 with Dayforce (formerly Ceridian) as their administrator, and have since seen turnover decline by 25%. The Nashville Predators switched to DailyPay when they partnered with Oak View Group, a global venue development and investment company in the sports and entertainment industries.
Zoom out. An EWA benefit can help employees get ahead of bills and other expenses, not to mention alleviate financial stressors that can hurt their emotional well-being and productivity. It can also help employers retain talent.
More than three-fourths (76%) of employees ADP surveyed between December 2021 and January 2022 said it’s important that their employer offers EWA. And 93% of employers said EWA helps their retention rates.
“Employees want to know that their workplace is truly invested in them, and it’s not good enough anymore to just offer a competitive salary and benefits,” Mosley said. “You have to distinguish yourself in multiple ways.”