Greene King, the UK’s leading pub retailer and brewer, has given its 38,000 team members real-time access to earned pay in its latest move to enhance employee benefits.
The company has launched the Wagestream platform this week, giving its team members access to a percentage of their earned wages any day of the month to help them meet unexpected expenses.
Greene King employees will also be able to track their pay and take advantage of Safestream — Wagestream’s micro-savings tool that collects regular, small sums straight from pay packets and on a monthly basis doubles one employee's savings at random.
In addition, they will have access to a range of financial education tools provided by Wagestream in conjunction with The Money Advice Service, including webinars that teach staff how to look after their money and an online resource hub that identifies what information and entitlements are relevant to them.
The pub company and brewer — which was founded in 1799 and has over 2,700 pubs, restaurants and hotels across the UK — has been acutely aware that some of its team will be encountering financial pain as a result of the coronavirus pandemic.
This move follows Greene King’s launch of its Team Member Support Fund in partnership with the Licensed Trade Charity, a fund to financially support its teams during lockdown. Team members already have access to an Employee Assistance Programme, a healthcare service provided by Best Doctors, an apprenticeship programme and generous discounts across the business.
Adoption of Wagestream has been incredibly strong, with half of Greene King’s workforce (52%) downloading the app in the first week.
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.”
Peter Briffett, CEO and Co-Founder of Wagestream, commented:
“The pandemic has caused a lot of worry for employees and this has been felt particularly badly in the hospitality sector. Greene King has picked the perfect moment to launch what we know is one of the most important workplace revolutions in pay of recent years.
“The UK’s traditional monthly pay cycle is inflexible when unexpected expenses come out of nowhere, and what people need in that situation is easier access to the money they have already earned. We’re proud to be partnering with the great team at Greene King to boost the financial resilience of their colleagues.”
Donna Dunbar, Greene King team member at Ma Cameron’s pub in Aberdeen, said:
“I found the Wagestream app really good because it gives you an actual breakdown of each day you have worked, how many hours and how much pay. It’s very easy to navigate around and has great hints and tips to keep you on track with your wages. It’s a great app!”
More than 380,000 UK workers currently have access to Wagestream, with clients including household names like Bupa, Rentokil, Brewdog, Zizzi, Roadchef and Honest Burgers — as well as eight NHS Trusts.