Are money worries affecting your employees?
Research from MaPS suggests more than half (55%) of all adults have experienced concerns over their own mental health or wellbeing because of money worries at some point in their lives.
The impact of money worries on organisations is considerable: the costs of absenteeism and presenteeism from poor financial wellbeing alone are estimated at £1.56bn a year.
We can help you with:
Improving financial wellbeing in your organisation
Provide proven tools that empower staff
Give employees access to their earned pay
How does Wagestream improve financial wellbeing?
When you offer Wagestream to your employees, they get access to a range of fair financial services, all built into an easily-accessible app.
Full visibility over shifts and earnings
A forecast of expected earnings based on shifts worked makes budgeting a breeze
Flexible pay throughout the month
Employees can access a proportion of their earned pay at any point, including in the week before payday
24/7 financial coaching
Personalised information plus accountable goals on topics like savings and debt equals positive behavioural change
Automated savings for all
Every employee can build their savings for long-time financial resilience
Discover how iTrent plus Wagestream transforms financial wellbeing
Go live with Wagestream in one week
All iTrent customers can go fully live with Wagestream in one week. The existing integration between the two platforms allows for a seamless setup and data flow of staff and salary information, with a proven track record of success. There is no impact on your current payroll processes.
Better financial wellbeing, available 24/7
Money worries affect people at different times. Wagestream’s financial wellbeing superapp, built around flexible pay, is available to your people 24/7. This means they’re always able to build better long-term financial health, whether by accessing their earned pay, talking to a financial coach or saving to build a buffer.
Proven impact on your organisation
When employees feel better about their financial wellbeing and have fewer money worries, your organisation benefits. Wagestream has been shown to improve retention by 16%, reduce time-to-hire by 27% and increase shift uptake by up to 26%. It’s a win-win for your people and your business.
No it is not. Earned wage access gives employees access to a proportion of the money they’ve earned already that month, so they only ever access their own money. It is not a loan or salary advance.
Wagestream is available to every employee, regardless of their credit rating or financial history. They’re also founded and built by charities, with a social charter at their core, meaning they remain accountable for building an app focused on providing fair financial services for all.
61% of users say their quality-of-life has improved because they have access to the app, while 67% say it makes them feel more in control of their financial future. Just under half (46%) have avoided a payday loan and 55% have reported an improved ability to plan their finances.
An independent report from Ipsos MORI found that the platform reduces attrition and improves retention by up to 16%.
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