Flexible pay at Asda
U.K. retailer ASDA has teamed up with financial well-being app Wagestream to help its 140,000 employees better manage their finances and deal with the rising cost of living. The app allows employees to see how much they’ve earned throughout a pay period and gives them instant access of up to 50% of their earned contracted pay. The app also features tools to improve financial education and allows employees to set aside money automatically as a “rainy day pot.” And, each month, employees are entered into a prize draw for a chance to double their pot. “We understand that from time to time our colleagues may need a bit more financial help, something which would be made worse by the current cost of living crisis,” said the company’s chief people and corporate affairs officer, Hayley Tatum, in a press release. The partnership with Wagestream follows Asda’s decision to up hourly pay for its retail employees by 10% this year.