Future proof your business for the proposed visa changes
Under post-Brexit plans from the government, low-skilled workers will find it hard to get visas to work in Britain.
A new points system is to be put in place that will require new entrants to meet a minimum of 70 points before they can get a sponsored visa.
As a part of the plan, the government is urging employers to focus on efforts to retain more staff and to recruit from the 8 million “economically inactive” pool of workers in the UK.
No matter what your opinion on the issue is, it’s clear that businesses will need to adapt quickly to grow their employee value proposition and see themselves through the change in laws.
With financial worries topping the list of stress factors in employees lives and 48% saying those financial worries are affecting them at work, providing financial tools that genuinely work to help reduce financial stress is one of the best ways to improve employee engagement and retain more staff.
Often the most positive financial relationship employees have in their lives is through their employer with their pay. But it’s a system that hasn’t changed for decades and inflexibility around pay is causing millions a year to turn to payday lenders.
That’s why employers are best set up to disrupt the system and have a real positive impact on their employees financial lives.
That’s where Wagestream comes in. Wagestream sits seamlessly between your payroll systems and your employees to give them more flexibility with the wages they’ve earned, to take financial worries off their minds and give you the most engaged, loyal workforce yet.
We’re already working with hundreds of organisations who are improving the financial lives of their employees by disrupting the outdated system of pay and they’ve seen incredible results.
A well-known restaurant group is already making significant strides in reducing people leaving their business and have seen a 16% reduction in attrition since introducing Wagestream. This means the group is able to retain the talent that they’ve trained and save themselves millions in recruitment and training fees in the process.
Tim Painter, HR Director of Stonegate Pubs said:
“Getting early access to money you have already earned, that is to all intents and purposes yours, seems so simple but this is a real revolution in pay that is already making it easier to recruit and retain staff.”
The Wagestream solution means that 82% of our users feel more positive about their employer as a result of them offering the service. 74% of our users feel less stressed and 45% of users say they are less distracted at work through using Wagestream.
Pressures for the care sector
Reporters say that the adult care sector is likely to be hardest hit as already there’s a staff shortage with one in 11 posts unfilled. Wagestream is already helping care providers to recruit and retain staff with income streaming. Bupa, Somerset Care and Advinia Health Care are all improving their employee value proposition to have a positive impact on their employees financial lives.
Wendy McGhan, Wagestream user and unit manager at Bupa’s Heol Don care home in Cardiff said that income streaming felt like a safety net for people like her who lived on a month-by-month with no savings. She said being able to track wages from her shifts was the most useful feature of the app.
“I prefer to access my overtime pay, so I’ve still got a full month’s pay cheque to come.”
For more information on how you can get your organisation ready, get in touch.