[Global] Wagestream partners with payroll provider SD Worx

SD Worx - the international HR and Payroll services provider - is partnering with financial wellbeing provider Wagestream, to help businesses build workplaces that are more inclusive, fair and rewarding for their people with fair financial services built around pay, Finextra reports.

Financial wellbeing platform Wagestream was founded with social impact funds. It is offered through hundreds of employers allowing more than two million people to choose their own pay cycle, manage their budgeting, save for a rainy day, talk with a personal money coach and get fairer deals on financial products; through the Wagestream app.

Recent research shows that as the cost of living rises, the majority (70 per cent) of workers are now worrying more about money. 76 per cent reportedly cited declining mental health as a result. The recent State of Financial Wellbeing index also found that employers have rushed to fill the gap left by traditional financial institutions; 93 per cent now have or plan to have a financial wellbeing policy in place, up from 51 per cent in 2021. 

Through its partnership with Wagestream, SD Worx will expand its pay proposition for clients allowing them access to the world’s most widely-used financial wellbeing platform.

Stephen Ousley - Head of Portfolio at SD Worx - said, “What employees are expecting from employers is constantly evolving, and it’s the same when it comes to financial flexibility. Money concerns can be a huge factor impacting employee wellbeing - especially in the current financial climate - and that’s why as a business we must ensure we’re offering our customers even more solutions that can benefit their teams.”

Stephen Knapman - Head of Partnerships at SD Worx - said, “We’re partnering with Wagestream as it’s an exciting company that aligns with our own values at SD Worx. We support the company’s social ambition of truly putting people in control of their pay, and we want to help our customers empower their workforces when it comes to financial education and wellbeing.” 

In addition, the solution reportedly facilitates ‘pay on demand’, allowing employees to draw a percentage of their earned wage at any point during a pay cycle, rather than waiting for a dedicated payday.

Wagestream was founded with a social charter requiring that every service it provides must measurably improve financial wellbeing. The company says three quarters (77 per cent) of people feel less stressed and 72 per cent of people feel more in control of their money, once they have access to Wagestream. Resulting in a happier, healthier, more productive workforce and improved recruitment and retention for their employers.

Max Lintott - General Manager at Wagestream - said, “Under-served, overlooked workers are worrying more about money, while powering the economy and keeping our essential services running.

Partnering with SD Worx, a leading provider of people solutions means we can reach more of those workers with the support and services they need and deserve - through caring employers who we know want to help. The data also shows those employers will benefit too with faster recruitment, a reduction in turnover and an increase in productivity.”

Source: Finextra

(Quotes via original reporting) 

SD Worx - the international HR and Payroll services provider - is partnering with financial wellbeing provider Wagestream, to help businesses build workplaces that are more inclusive, fair and rewarding for their people with fair financial services built around pay, Finextra reports.

Financial wellbeing platform Wagestream was founded with social impact funds. It is offered through hundreds of employers allowing more than two million people to choose their own pay cycle, manage their budgeting, save for a rainy day, talk with a personal money coach and get fairer deals on financial products; through the Wagestream app.

Recent research shows that as the cost of living rises, the majority (70 per cent) of workers are now worrying more about money. 76 per cent reportedly cited declining mental health as a result. The recent State of Financial Wellbeing index also found that employers have rushed to fill the gap left by traditional financial institutions; 93 per cent now have or plan to have a financial wellbeing policy in place, up from 51 per cent in 2021. 

Through its partnership with Wagestream, SD Worx will expand its pay proposition for clients allowing them access to the world’s most widely-used financial wellbeing platform.

Stephen Ousley - Head of Portfolio at SD Worx - said, “What employees are expecting from employers is constantly evolving, and it’s the same when it comes to financial flexibility. Money concerns can be a huge factor impacting employee wellbeing - especially in the current financial climate - and that’s why as a business we must ensure we’re offering our customers even more solutions that can benefit their teams.”

Stephen Knapman - Head of Partnerships at SD Worx - said, “We’re partnering with Wagestream as it’s an exciting company that aligns with our own values at SD Worx. We support the company’s social ambition of truly putting people in control of their pay, and we want to help our customers empower their workforces when it comes to financial education and wellbeing.” 

In addition, the solution reportedly facilitates ‘pay on demand’, allowing employees to draw a percentage of their earned wage at any point during a pay cycle, rather than waiting for a dedicated payday.

Wagestream was founded with a social charter requiring that every service it provides must measurably improve financial wellbeing. The company says three quarters (77 per cent) of people feel less stressed and 72 per cent of people feel more in control of their money, once they have access to Wagestream. Resulting in a happier, healthier, more productive workforce and improved recruitment and retention for their employers.

Max Lintott - General Manager at Wagestream - said, “Under-served, overlooked workers are worrying more about money, while powering the economy and keeping our essential services running.

Partnering with SD Worx, a leading provider of people solutions means we can reach more of those workers with the support and services they need and deserve - through caring employers who we know want to help. The data also shows those employers will benefit too with faster recruitment, a reduction in turnover and an increase in productivity.”

Source: Finextra

(Quotes via original reporting)