Background
Wagestream was founded to be a strong force for social good, providing a complete financial wellbeing platform for frontline workers. This is embedded in the ethos of our company - a social charter designed in conjunction with our charity investors. As a result, our Articles of Association are unique, stating:
- Our primary objective: is to advance for public benefit with solutions to help workers, including those that are on low income, escape the debt cycle by being able to access flexible pay at any time (our Social Purpose).
- Our secondary objective: is to secure a reasonable return to its Shareholders while having regard for the need to promote the Social Purpose.
Wagestream is strongly committed to ensuring that our organisation is free from slavery and human trafficking, and that all Wagestream staff, and affiliates, are protected. We envisage a world where all people and communities thrive due to economic stability and social equality - this is the core principle behind our business and purpose.
Purpose
As a financial wellbeing company, our business model does not carry with it a high level of slavery risk. This policy therefore covers those areas within our business supply chains which we have identified as presenting a potential slavery risk.
Scope
This policy applies to all Group employees, contractors, partners, clients and suppliers.
Governance
This policy is owned by the CRO and is approved by the Group Risk Committee. The policy is to be reviewed annually.
Exceptions, Waivers & Breaches
The Group does not anticipate granting any exceptions or waivers to this policy.
Policy breaches will be escalated to the CRO immediately. When it is determined that a breach of this policy has occurred, Wagestream may take such action as deemed appropriate, such as, invoking the disciplinary procedure or, in the case of clients, suppliers and partners, invoking contractual clauses which allow contracts to be terminated with immediate effect.
Training
All employees and contractors will read and acknowledge this policy within 30 days of joining Wagestream and on an annual basis thereafter.
Policy
Policy Statements
- Wagestream operates a rigorous recruitment selection process for all employees, including obtaining proof of Right to Work documents in the country in which they will be employed.
- Wagestream will always pay employees at least the minimum wage rate applicable in the geography in which they operate (and are committed to paying the London Living Wage for employees based in London)
- Our Company Values and Policies provide a clear set of rules for all employees and contractors and the standards expected across all areas of our business including in relation to modern slavery concerns.
- Wagestream is committed to act with integrity in all of our business activities and to comply with all applicable laws and regulations where we do business
- Wagestream does not tolerate slavery or human trafficking within our supply chains
Additional Policy Rules & Information
Employee Background Checks
Wagestream completes background checks on all new employees as part of their recruitment and onboarding process. Wagestream will not hire employees or contractors where a background check has returned flags related to slavery or human trafficking.
Supplier Due Diligence
Wagestream undertakes due diligence on potential suppliers to ensure that they are a suitable organisation aligning with Wagestream’s values and policies.
In line with our supplier due diligence and assurance frameworks, we monitor suppliers on an ongoing basis to ensure they remain aligned to our values and policies. Wagestream is committed to ensuring that there is no slavery or human trafficking arising in any part of our business, including our supply chains.
All suppliers are required to adhere to our supplier code of conduct which sets out clearly our expectations and the standards of behaviour we expect from all our suppliers.
Oversight, Reporting & Management Information
Oversight and reporting for this policy will be included in the ongoing risk management assessment and reporting of Supplier and People risks which is reviewed by entity level risk committees.
Escalation & Issue Management
Any issues of Group level significance arising as within an entity will be escalated from the entity risk committee to the Group Risk Committee.
Roles and Responsibilities
Risk Owners
Identify and assess risks related to slavery and human trafficking as part of ongoing risk management
Supplier Relationship Owners
Report suspected or confirmed supply chain issues linked to slavery and/or human trafficking.
People Team
- Complete employee and contractor background checks as part of recruitment and onboarding process.
- Complete ongoing background checks at least annually for all employees and contractors.
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