Virgin Care, the health and social care provider, has unveiled an Earned Wage Access (EWA) incentive for its 4,500 full-time workers.
The collaboration with financial wellbeing platform Wagestream is designed to help employees deal with unexpected expenses and prevent financial strain.
Under the scheme, individuals will be able to track, save, manage and instantly access their already-earned wages for a flat £1.75 fee via the Wagestream app with no loan or interest charged.
Virgin Care, which has worked in partnership with the NHS and local authorities since 2006, operates more than 400 frontline health and social care services across England.
Samantha Kane, chief people officer at Virgin Care, said: “We’re so proud of the role our colleagues have played in continuing to provide high quality health and social care services to our communities during this challenging year. But, for them to feel equipped and empowered to play that role, they also need to be supported. We’re excited to be rolling out this pioneering app for our teams.”
She explained that partnering with Wagestream will allow staff to track, access, save and manage money more easily.
Kane added: “If we can help reduce financial stress and give them greater financial freedom, in the process, that can only be a good thing for everyone.”
Peter Briffett, CEO and co-founder of Wagestream, commented: “We’re proud to be partnering with Virgin Care – a forward-thinking organisation that puts people at the heart of everything it does. The data now shows that the ability to track, access, save and manage wages in real-time is incredibly powerful, and we look forward to seeing the whole Virgin Care organisation benefit from it.”