Facilities management organisation TC Facilities Management (TCFM) is allowing its 5,000 employees to access up to 50% of their pay immediately.
The organisation is introducing the new benefit to ensure that all TCFM employees will be supported financial during this uncertain time, and to reward staff for their hard work in working an extra 12,000 hours collectively during this time.
TCFM, who have partnered with Wagestream, plans to launch the new benefit to all of its employees in late June 2020. Staff will then be able to access funds via an app and receive their money within 24 hours of requesting a payment, subject to a £1.75 fee.
This new policy is an addition to the work that TCFM has done to deliver support to retail and distribution organisations.
Tony Reed, chief executive at TCFM, said: “I am proud to be part of a business that really cares about its [employees]. We share a business motto that is “TCFM – big enough to serve, small enough to care” and, in caring, I believe that one of the biggest things we can do to support our people at this unprecedented time, is to allow them access to their money as and when they earn it.
“As an employer of 5,000 colleagues, TCFM has a responsibility to help our [employees] with their financial wellbeing and this is something I am passionate about. The comfort in knowing our [employees] will be able to plan their finances throughout the month, day by day is a huge step forward, and partnering with Wagestream could make the difference between paying a bill on time or putting food on the table that night.
“We’ve seen how Wagestream can boost [employees’] wellbeing at other organisations who are already using it, so we are excited to be able to launch this for our [staff].”