Over 70% of our team members signed up

Embedding financial wellbeing into a company's strategy can yield remarkable benefits, as highlighted by Andy Richardson, Director of People Shared Services at Pizza Express, in a recent video. He shares how the company approached employee well-being with a focus on financial support through Wagestream.

"We set up a cross-functional project group for looking at well-being and quickly identified that financial well-being was a key integral part of our overall offer," Richardson explains. This led to the implementation of Wagestream, a tool that provides employees with greater financial flexibility.

Pizza Express operates with two different pay schedules: monthly and four-weekly. Richardson notes, "The introduction of Wagestream enabled people to have a lot more flexibility in terms of managing their monies." The impact was immediate and positive, with smooth implementation facilitated by tailored project planning. "They took the time to understand our business and our challenges, and the implementation was very smooth and efficient."

Beyond the logistics, the tool has empowered employees with practical insights into their earnings. "Teams are now able to see their hours worked and their rotas and have a far better understanding of what their earnings are likely to be," Richardson states. This transparency has translated into better financial management for many employees. "Over 50 percent have said that they're able to budget and manage their money better."

"Since we've introduced Wagestream, we have over 70 percent of our team members having signed up."

Additionally, over 3,000 team members have completed financial health assessments, helping them set goals and make sustainable life changes. An engagement survey conducted before Christmas revealed overwhelming positive feedback. Richardson recalls, "One statement that springs to mind most is that somebody said Wagestream is actually a lifesaver."

This initiative exemplifies how prioritising employee financial wellbeing can lead to significant improvements in both engagement and satisfaction.