Retail solutions firm Dee Set Group has introduced financial wellbeing support for its more than 3,000 employees in the form of an earned wage access platform and financial coaching as of this week.
Provided by Wagestream, the system allows employees to draw up to 50% of their salary out at any time of the month to help with unexpected bills, school expenses and other costs that might previously have resulted in debt or taking out a payday loan. They can also choose to move a percentage of their wages into a savings pot and also get shopping discounts and cheaper household bills deals.
Dee Set Group previously introduced flexible hours, allowing staff to choose when they work, and with this new system, said it aims to add to this flexibility by introducing choice around how employees get paid.
Employees have also been given access to financial coaching, with the aim of helping them make healthy money habits and become more financially knowledgeable. The business stated that financial education will be invaluable as the cost of living continues to rise, and it hopes to both attract new talent and improve its existing employees’ financial wellbeing.
Antony Lee, people and retail director at Dee Set, said: “At Dee Set we aim to make our team members’ lives as easy as possible and the best way we can do this is with flexibility. We already allow our field and store colleagues to choose the hours they work, making it ideal for fitting in around the school run, or slot into retirement, but now we are giving them a choice of when and how they are paid.
“The last thing we want is our colleagues to worry about money and we hope this new system with its flexible options including financial coaching will help put their mind at ease during this tricky time.”