We understand the significant impact that COVID-19 has had on the hospitality sector and the challenges operators have faced to reopen safely and effectively amid ever changing regulations. New measures have resulted in increased financial pressure for hospitality sector employees, which can have an impact on their health and wellbeing.
Fourth and Wagestream want to do as much as we can to support the sector so are now offering the Wagestream Financial Wellbeing Platform as part of the Fourth Workforce Management solution, at no additional cost to customers using the payroll module.
Wagestream is already being used by many Fourth customers, with proven success of increasing staff wellbeing, retention, and productivity. It’s fully integrated into the Fourth platform meaning additional resources are not required to activate, so your employees can quickly start benefiting from the Fourth and Wagestream Financial Wellbeing Platform.
The Fourth and Wagestream Financial Wellbeing Platform
Wagestream is a financial wellbeing platform that allows your staff to track and access their wages as they work, automatically build a savings pot, and learn better money habits.
The Benefits of Fourth x Wagestream
Employees can track earnings in real-time, set up reminders for recurring bills and clearly see their incomings vs outgoings. 55% of users now feel more in control of their finances.
Employees can access earned wages, cover unexpected expenses and avoid unnecessary debt. 42% of users have since avoided turning to payday lenders.
Financial health tools and trusted and impartial information to build money confidence. 6x a month users access financial tools and tips in the app.
Create a savings culture through incentivised savings directly from their salary. Help your employees save for a more secure financial future. Employees who stream are 2-3x times more likely to start saving.
Fourth Customers Already Benefitting from Wagestream
By launching Wagestream now, it means our employees can access their furlough pay before we receive it from the Government which will ensure we are continuing to support them during these tough times.”
The data revealed that August began to show encouraging signs of recovery across the industry, largely driven by the Government’s Eat Out to Help Out (EOTHO) scheme, the warm weather, and the fact that people began to feel more comfortable and confident to start venturing out again.
With safety and cleanliness at the forefront of everyone’s mind, and recent researching suggesting that enhanced cleaning standards will cost the hotel industry around £7 Billion, it is having a significant impact on everyone’s operational and labour costs.
We all know legislation is tightening around allergen labelling and calorie counts, but this isn’t the only reason hospitality businesses should seize the opportunity to get on top of this vital data. Increasingly, customers want to know what’s in the food they eat in restaurants and take away.
Learn more about our Wagestream feature at no Additional Cost.
To find out more or to activate this new feature, complete the form to the right and a product specialist will be in touch!