IRVINE, California, March 13, 2018 /PRNewswire/ —
ShiftPixy, Inc. (NASDAQ: PIXY), a disruptive workforce engagement platform provider is designed to correct two areas that the gig economy has impacted restaurant and hospitality business operators.
The first of these impact areas is turnover. The new gig platforms have created new opportunities for income for workers committed to part time labor. Part time workers no longer need to hit the street to hunt for jobs and fill out applications. Now from their smart phone they are served real time local opportunities that allow them to work when they want and where they want. This new dimension to work and work opportunities access has carved deeply into the US part time labor market. Fewer part time workers are looking for restaurant and hospitality work has resulted in toxic levels of turn over particularly in major metro US markets.
ShiftPixy treats turnover by providing a participation platform for restaurant and retail operators to connect with qualified local and available part time workers who work for other local operators but need to earn more. This new human capital approach means that operators participating on the ShiftPixy platform will not only liberate their business from employer duties but the ShiftPixy scheduling technology continuously monitors the operator for work schedule gaps that can be offered to a fast growing local on demand workforce.
The second impact area is the emergence of the new convenience economy propelled by third party deliver providers. Pizza has always been a convenience meal because delivery is a time-honored tradition. The rest of QSR could never jump into the risk and complexity of delivery. Today however the rest of the QSR community has found new income under third party delivery partnerships. These third-party providers are born of the Gig Economy platform boom. They have deployed a lot of capital to create this new convenience economy and leverage the same part time work convenience to bring new income to QSR.
The problem few are talking about is that the QSR brands who have spent decades building their brand and their customer experience are now surrendering both their brand, the customer experience and their customer data to a third-party provider. There is an endgame risk that a customer will one day be urged to try and Uber Burger or Grub Tacos.
ShiftPixy offers an extension of its operator platform that put these QSR operators in a position to self-deliver. The self delivery approach allows QSR operators to use their own local staff to take orders to customers with the same precision as their Pizza neighbors and a better brand centric customer experience. ShiftPixy brings the impossible to secure higher but essential to have in place for delivery, the hired and non-owned auto (HNOA) insurance coverage to the QSR operator on an as needed basis. The ShiftPixy mobile platform can pull an outbound order into a ticket for qualified, assigned, uniformed staff worker to confirm the order, jump in their car, drive a guided route, connect with the customer and return. This work flow is micro metered for the precise HNOA coverage and mileage reimbursement for each delivery loop. This allows for a fixed cost, per order cost coverage and no more revenue sharing with a third-party operator.
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ShiftPixy (NASDAQ: PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.
The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings on Forms 1-A and 10-K and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.
Consistent with the SEC’sApril 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.
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