At Salutem, our mission extends beyond providing exceptional support and education to the individuals we serve, it includes caring for the wellbeing of our employees too. We recognise that to deliver high-quality care and learning, our people must feel supported in every aspect of their wellbeing, including their financial health.
As part of our ongoing commitment to employee wellbeing, we partnered with Stream several years ago to give colleagues greater financial flexibility and education. Employees can access a portion of their earned wages when needed and benefit from financial learning resources directly through the app.
Our partnership has continued to evolve, ensuring that Salutem employees are among the first to benefit from new financial tools as they are introduced. One particularly valuable addition is the savings scheme, which offers a 4.01% interest rate paid daily. This benefit is open to everyone at Salutem, regardless of income or savings level.
With research published by Money and Pensions Service in November 2022 showing that fewer than one in four UK workers have more than £100 saved, this initiative plays an important role in helping our teams prepare for unexpected expenses or personal goals. There is no minimum saving requirement, and contributions can be deducted automatically from wages, making saving both simple and sustainable.
The results speak for themselves: 44% of Salutem’s employees that use the app have now opened savings accounts. It has helped to build healthy financial habits, manage sudden bills, and reduce debt.
Salutem takes a holistic approach to employee wellbeing; by empowering colleagues to take control of their financial health; we are not only supporting their individual security and peace of mind but also strengthening the foundation of care and support that underpins everything we do.
Kirstie Jones is chief people officer at Salutem Care and Education
