Greene King gives employees instant payment access
Pub retailer Greene King offers its 38,000 employees instant access to their salaries in order to increase theirs financial well-being during the Covid-19 (coronavirus) pandemic.
The organization, which has partnered with income streaming platform Wagestream, has signed up more than half of its employees (52%) for the service since it launched on Sept. 21. Employees can get as little or as much of their salary as they need without having to wait until payday, paying just a flat fee of £ 1.75 per payout.
Employees also have access to Wagestream’s micro-savings tool, Safestream, which allows them to save part of their salary every month. To motivate employees, Greene King randomly doubles an employee’s monthly savings. In addition, employees can also access financial support through its The Money Advice Service.
This new benefit is in addition to the Fund to support team members which Greene King founded in May 2020. Eligible employees are entitled to a payment of £ 400 to provide financial support during the pandemic.
Andrew Bush, Greene King’s chief people officer, said: “We care about our team members and we know that some of them have met in real life financially Difficulties due to the aftermath of the pandemic. While we were able to provide a relief fund during the lockdown, we know that looking to the future, Wagestream will help alleviate some of this financial stress by helping those affected meet unexpected expenses. “