Innovative ‘earned income’ payroll provider teams up with HFX’s established workforce management solutions to provide staff with flexible, financial benefits
HFX, market leading provider of cloud-based SaaS flexitime and workforce management solutions, has announced a partnership with Wagestream, the first Get-Paid-As-You-Go provider accredited by the FCA. Wagestream allows workers to access their ‘earned income’ at any time during the monthly pay cycle and can be implemented by companies without impacting cash-flow, payroll or timekeeping processes. Experienced in workforce management for over 40 years, HFX’s solutions complement Wagestream’s platform by providing the tools to manage staff working hours efficiently to administer pay as you go payments.
Nicola Smart, COO of HFX said; “Our collaboration with Wagestream perfectly complements HFX’s focus on playing a key role in the new world of work, combining efficient workforce management with wellbeing and staff benefits. By deploying our solutions companies can benefit from improved productivity, more motivated staff and higher retention as well as cost savings and improved profits.”
Andrew Fenwick, Enterprise Partnership Director at Wagestream said; “Our new pay concept enables companies to offer employees a benefit of remunerating them their ‘pay’ for short periods worked, whether for overtime or even a few days’ work, instead of waiting until the end of the month or taking out expensive loans.
“It is already popular in companies with high turnovers of lower skilled staff, where employee retention levels increase because they value having quicker access to their salary when they need it. Our vision is aligned with that of HFX’s in this new world of work – we will be able to offer companies a true holistic workforce management solution where the efficient recording of hours is directly related to remuneration, enabling staff to take control of and manage their finances and working hours.”
Wagestream’s service benefits employers which operate large numbers of shift and temporary workers, in sectors such as hospitality, security, retail and manufacturing. HFX’s workforce management solutions have an established pedigree of providing solutions to manage working hours, shifts and rosters to meet legislation and ensure staff wellbeing.
Wagestream allows all employees, both salaried and hourly, to have complete control over when they get paid. It effectively ends the stress caused by monthly pay cycles and prevents millions of UK workers suffering overdraft charges, credit card debt, or worst case, entering cycles of poverty caused by payday loans.
Wagestream is a social impact, charity backed platform, that has proven and significant retention, productivity and recruitment benefits for employers.