World of Books gives employees early access to pay

World of Books gives employees early access to pay

Online book retailer World of Books is giving its 537 staff 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, will give employees the flexibility to access as little, or as much, of their salary as they need without having to wait until pay day, subject to a flat fee of £1.75 per withdrawal.

Employees will also be able to access Savestream, a savings tool that helps employees regularly save straight from their monthly pay.

World of Books is also offering financial education tools to employees through Wagestream’s financial education service in partnership with The Money Advice Service. The service educates employees on how to look after their money through webinars and other online resources.   

Carol Atkins, head of HR at World of Books, said: “Like the rest of the country, our employees have had an incredibly trying year, juggling commitments at work and home, with all the added financial pressures that the series of lockdowns can bring.

“We already provide our staff with mental health support through our employee assistance programme and our trained mental health first aiders. But this year has really hit home for everybody that finances can have a big impact on wellbeing, so we were determined to go even further and with support that gives our people more financial control. We found the tools offered by Wagestream provided the right solutions and the right time.

“Our employees are already enjoying the service that Wagestream offers in accessing their wages in instantly. The feedback has been incredibly positive and I am encouraged at the number of people who are also using the savings facility.”