Independent Survey Recognizes Payroll Vault for Outstanding Company Culture and Employee Engagement in the Franchise Sector
JUN 28, 2022 for IMMEDIATE RELEASE
Littleton, Colorado (June 28, 2022) – Payroll Vault was recently honored with the Bronze award by Franchise Business Review as part of the 2022 Franchising@WORK Awards. The awards recognize franchise companies with the highest employee satisfaction based on an independent survey of corporate franchise staff. The list is available at https://tour.franchisebusinessreview.com/franchising-at-work/
As a fast-growing payroll and workforce management solutions franchise, Payroll Vault provides the opportunity to own a boutique-style full-service payroll company supported by a team of experts. Headquartered in Littleton, Colorado, Payroll Vault’s mission is focused on Re-defining payroll services and is complemented with unequaled client service.
Franchise Business Review (FBR), a market research firm that specializes in benchmarking satisfaction within the franchising sector, conducts surveys of corporate franchise employees, franchise supplier employees, and franchise owners’ employees across North America each year to determine their levels of engagement.
FBR recently conducted the industry-wide Franchising@WORK Employee Engagement & Compensation Benchmarking Study to provide aggregate data to help franchise companies understand how their culture, compensation, and engagement compare to others. All corporate franchise employees were invited to take part.
Participants were asked 24 core benchmark questions related to job satisfaction, engagement, skills and experience, management, brand leadership, and culture.
Franchises that participated in Franchise Business Review’s employee engagement research were eligible for the Franchising@WORK Awards. FBR analyzed data from nearly 5,500 franchise professionals to identify the finalists based on responses from their employees in eight key areas. Payroll Vault received the Bronze award in the Medium Class (Under 25 employees).
“Employee engagement in the franchise sector consistently outperforms other sectors, and 2022 is no different. This year’s Franchising@WORK data showed that engagement among corporate franchise employees remains high, with 82% of employees reporting their job is rewarding and satisfying, in contrast to overall data in the U.S. that puts employee engagement at approximately 40%,” said Eric Stites, founder & CEO of Franchise Business Review. “There’s a direct correlation between the effectiveness of managers in a franchise organization and the satisfaction of employees. Franchise companies that are focused on developing successful managers have a distinct advantage in maintaining high levels of employee engagement, which translates directly to hiring and retention. We are proud to recognize the companies that have dedicated the time and consistency to creating a culture that really moves the needle.”
“Our leadership is honored and thankful to be a Bronze award winner for Franchise Business Review’s Franchising@WORK AwardsWe will continue to remain committed to cultivating a strong brand and company culture that will allow our team to shine forward in all they do, flourish throughout the franchise system, and throughout each of our local communities,” stated Sean Manning, CEO/Founder of Payroll Vault.
Tricia Petteys, COO/Co-founder, emphasizes, “As a team, as a system, and as a community-facing payroll service provider, we hope to continue to break barriers in employee management and be a forward-thinking provider at every level of our organization. Our long-term goal is to always put people first.”
Download the full Franchising@WORK Report and analysis of the findings here: https://fbrinfo.franchisebusinessreview.com/franchising-at-work-report
About the Payroll Vault Brand
Payroll Vault’s mission began in 2008, focused on re-defining payroll services and solutions, complemented with unparalleled customer service. Payroll Vault offers boutique-style payroll services for small businesses and provides a real-time solution for clients. In 2012, Payroll Vault launched its first franchise. Through providing entrepreneurs the opportunity to start-up their own full-service payroll business with the support of our team of experts with decades of experience, Payroll Vault Franchising is recognized as a national leader in the industry with numerous offices across the United States and expanding.
About Franchise Business Review
Franchise Business Review (FBR) is a leading independent market research firm that specializes in benchmarking franchisee and employee satisfaction. FBR provides franchise companies with benchmarks and best practices to improve satisfaction, employee engagement and retention. FBR has partnered with over 1,100 top-performing franchise companies to drive franchise growth and achieve greater success through data-driven insights. Learn more about FBR’s research at GoFBR.com.
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