Employer Customer Story

Anchor: Without a doubt, a huge success

As a not-for-profit organisation, Anchor re-invests every penny into their customers. But in the face of significant workforce challenges in social care, in 2024, it recognised the need for a revised focus on the wellbeing of its colleagues as well.

Understanding that every financial life is different, the leading social care provider set out to find a solution gives colleagues the tools to manage their money in a way which suits their individual needs.
More than 50%
colleagues accessing financial benefits
£600,000
saved in 6 months
82%
members feel less stressed

Summary

anchor
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Sector

Healthcare
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Company Size

10,500
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Benefits Offered

Flexible Pay
Track
Benefits Checker

Loans
Savings

Financial Coach

Benefits Checker
Discounts

The impact of offering Wagestream

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A holistic platform, with benefits for every colleague’s needs.

As a not-for-profit organisation, Anchor re-invests every penny into the wellbeing of its customers .But in the face of significant workforce challenges in social care, in 2024, it recognised the need for a revised focus on the wellbeing of its colleagues as well.

Understanding that every financial life is different, the leading social care provider set out to find a solution that would give colleagues the tools to manage their money in a way which suits their individual needs.

Shifting from a model that relied on multiple providers, Anchor introduced Wagestream, a comprehensive platform offering a range of financial benefits including budgeting, flexible loans, discounts, savings options, flexible pay and more, to appeal to a broader range of colleagues.

The impact on colleague wellbeing and business operations was almost immediate. Within six months, money-related stress had decreased, over £600,000 had been saved and with flexible pay options, more shifts were being picked up, reducing agency spend as a result.

Rob Martin, Executive Director of Care Services, shared that:

“I can be sceptical with new technology, but Wagestream has without a doubt been a huge success within Anchor. Already over half of our workforce is using the app to manage their money more effectively. A happy workforce means a more engaged workforce giving a better experience to our residents.”