Pub retailer Greene King is giving its 38,000 employees instant access to their pay to support their financial wellbeing during the Covid-19 (Coronavirus) pandemic.
The organisation, which has partnered with income streaming platform Wagestream, has seen over half of its employees (52%) sign up for the service since it launched on 21 September. Staff can access as little or as much of their salary as they need without having to wait until pay day, and only pay a flat fee of £1.75 per withdrawal.
Employees will also have access to Wagestream’s micro-savings tool, Safestream which allows them to save a portion of their salary each month. To incentivise employees, Greene King will at random double one employees monthly savings. Additionally, employees will also be able to access financial wellbeing support through its The Money Advice Service.
This new benefit is in addition to the Team Member Support Fund that Greene King set up in May 2020. Eligible employees are entitled to a £400 payment to financially support them through the pandemic.
Andrew Bush, chief people officer, at Greene King, said: “We care about our team members and know some of them will have encountered real financial difficulties due to consequences of the pandemic. While we were able to provide a Support Fund during lockdown, we know that looking ahead, Wagestream will help to alleviate some of this financial stress by helping those affected meet unexpected expenses.”