Be the financial lifeline your employees need

Give your staff access to wages as they're earned to reduce workplace stress and increase employee engagement and performance.

There’s a reason why 82% of staff feel more positive about their employer

The best engagement comes from making your staff feel good and what’s more feel-good than getting paid? The financial relationship employees have with their employers is often the most positive one in their lives.

That’s why financial wellness is the key driver of a sustainable workforce, and the reason why our employer-enabled financial tools mean 82% of our users feel more positive about their employer.

Business benefits guaranteed

16% Reduction in attrition

Wagestream can guarantee, with use of employer data, to reduce the number of leavers in your business by 16%, in less than 12 months.

22% Increase in hours worked

Employees who are actively using Wagestream can feel a stronger link between their work and what they earn, therefore have done, on average, 22% more hours per month.

+80 Our Net Promoter Score

Our score is rated as ‘world class’. By providing your employees with a service that they would readily recommend to others, you are strengthening your own employer brand and trust.

Why your colleagues will love it

Stream wages

Less stress and more minds on the job with flexible pay

57% of employees said that they felt less financial stress as a result of being able to access their wages when they need it. 

It means that your employees can come to work with less stress on their minds and be more productive.

overview Track wages

Tracking wages is fast becoming our most used feature

71% of users check the app weekly to track their wages in real-time so that they can stay on course. 

When employees can see the direct impact their work is having on their paycheck, they’re naturally going to work more hours. 

unlock Save wages

Saving is incentivised with Wagestream

As a part of our mission to improve the financial lives of working people we want to ensure that every person has a savings buffer of at least £250.

That’s why we built a prize linked savings feature that is added to through automatic contributions straight from salary. 

The average savings goal for our users is £280, which means we’re already making positive strides towards better financial security for employees.

Learn skills

Learn money skills for better financial health

Financial wellbeing at work is dependent on the choices we make every day.

That’s why we’ve created a financial education programme to serve up tools and tips that are built around your employees’ unique needs.

Our partnership with the The Money Charity and Money Advice Service gives long-term support.

  • Stream wages
  • Track wagesoverview
  • Save wagesunlock
  • Learn skills

Less stress and more minds on the job with flexible pay

57% of employees said that they felt less financial stress as a result of being able to access their wages when they need it. 

It means that your employees can come to work with less stress on their minds and be more productive.

Get started

Tracking wages is fast becoming our most used feature

71% of users check the app weekly to track their wages in real-time so that they can stay on course. 

When employees can see the direct impact their work is having on their paycheck, they’re naturally going to work more hours. 

Get started

Saving is incentivised with Wagestream

As a part of our mission to improve the financial lives of working people we want to ensure that every person has a savings buffer of at least £250.

That’s why we built a prize linked savings feature that is added to through automatic contributions straight from salary. 

The average savings goal for our users is £280, which means we’re already making positive strides towards better financial security for employees.

Get started

Learn money skills for better financial health

Financial wellbeing at work is dependent on the choices we make every day.

That’s why we’ve created a financial education programme to serve up tools and tips that are built around your employees’ unique needs.

Our partnership with the The Money Charity and Money Advice Service gives long-term support.

Get started

Trusted by companies like you, used by employees like yours

Get real about reducing workplace financial stress if you want to see an increase in productivity, motivation and retention like these companies.

What do our users say?

With over 500 5* app store reviews, we're confident your staff are going to love Wagestream.

Easy implementation. Wagestream your way

calendar
Running within 4 weeks
24/7 customer support

Simply choose what you want for your workforce.

We’ll customise usage controls, and set up an employer portal to give you complete oversight on how your employees are using our financial wellness services.

We work in partnership with

Founded as a force for good

We are proud to work with social impact charities to help employees manage their money better.

Our goal is to prevent employees entering cycles of debt caused by loans, overdraft fees, high-cost-credit and payday loans.

Our founding charity partners

Think Wagestream is not 
for your colleagues?

Let us show you why you’re wrong...

The Hidden Cost of the Monthly Pay Cycle

Can you think of any major aspect of human life that hasn’t become faster or more efficient in the last 100 years? 

Chances are, you can’t. 

Living has come a long way, but there's one thing, that over the last 100 years, has actually gotten slower for the end user, one thing that we all probably think about on a daily basis, and that's our pay. 

At the turn of the last century workers got paid as they worked, had more control over their finances and as a result, had a positive daily interaction with their employer. Now the majority of Europe is paid just once a month.

Whilst this has mainly been driven by cash flow and cost requirements [payroll is expensive to run], you only have to look at the 3.1 million people in the UK turning to payday lenders in between pay cycles to see that this system causes as many problems as those it tries to solve.

And we get it, it's simply not sustainable for organisations to run payroll on a daily or weekly basis so there are limited options, but ultimately the best interests of employees are not being met. 

Here at Wagestream we want to challenge the norm of the monthly pay cycle, and provide employees and employers with a solution that works for both, so we did some research to look at the hidden costs of such a rigid system and what access to more frequent and flexible income can achieve. 

The monthly pay cycle creates a feast and famine phenomenon 

A recent survey by Portafina found that the monthly pay cycle drives irregular spending, or the ‘payday billionaire’ effect, where employees feast on wages they previously didn’t have access to. This feast in the earlier part of the month exposes them to a cash flow / liquidity issue, that gets worse as they get to the last week of the month. 

Smoothing between data points assumed (100%, 43%, 81%, and 12%)

The survey shows that within just 24 hours of payday 43% of disposable wages have been spent and by day 23 of the month employees are at significant risk of not being able to meet unexpected expenses as they enter the famine period of the month. 

The contrast between the famine at the end of the month and the feast employees feel as payday comes around again leads to continued irregular spending and a ‘spend it while you’ve got it’ mentality. And so the trend perpetuates itself. 

Data from our users reflects this lack of cashflow as the majority of transfers or income streams (41%) happen during the last 7 days of the month when employees start to feel the shortfall. It’s an issue that’s become the reality for many working people. 

Wagestream transfers increase throughout the month as employees face trouble

72% of transfer are made within the last 2 weeks and 41% are made in the last week before payday

With access to income streaming, Wagestream users can effectively manage the shortfall, and not fall into debt or the hands of predatory lenders [such as pay day lenders] between pay cycles. 

Current options can lead to unnecessary cycles of debt

Current options are often highly unsuitable for most needs and financial situations as they’re expensive, over provisioned and not available to everyone.

Looking at averages from the FCA it’s clear to see that the current solution does not match the problem.

What’s more by looking at Wagestream usage data we can see that when employees do stream, it’s only by smaller amounts, mainly of £100 or less. It clearly demonstrates that most options available over provision on employees needs plunging them into unnecessary and expensive debt. The maximum most Wagestream users transfer is approximately only 8% of their income. Because employees know it’s ‘their earned money’, they are much more responsible with its use, and only use it for emergency spend.

Compared with access to earned wages, existing options are not sustainable and leave employees burdened with debt, making it even more difficult to tackle any future financial issues, beginning the negative credit cycle. 

We think Chris, a Wagestream user, put it pretty well . . . 

‘I’d rather take 100 quid from my wages that I’ve already earned and know my emergency is sorted, as opposed to borrowing 100 quid off a payday loan company and over 6 months have to pay 325 quid because of the 1000%+ APR’

Yes Chris, you got it!

A survey by Finder found that as much as 75% of payday loans users return to the service up to 6 times per year. That would be pretty expensive for Chris. 

Necessities become extremely expensive under existing options

To put it plainly, we’ve compared the cost of three everyday items when financed with a credit card, payday loan and overdraft to the cost of the items when paid for through effective access to employees own income. Whether you go for the meat or vegan option is really up to you. 

While we can all probably avoid the expensive burger, it would be hard to live for any length of time without a washing machine. Options available in the current system can mean that necessary items can cost three times more than they should and have a lasting negative impact that could otherwise have been quickly overcome through adequate access to earned wages. 

Access to earned wages leads to a more managed approach over time

Wagestream usage data has also shown that transfer frequency and size reduces over time as stress levels, finances and wellbeing improves. What this proves is that access to income streaming doesn’t just help in a one-off situation, it actually stops employees getting into spiralling debt meaning they can better weather financial storms in the future, and therefore reduce the need for future streaming.

As employees are better able to tackle unexpected financial issues without turning to dangerous and expensive credit options, their future finances are protected and sustainable.

Through access to income streaming, 76% of users feel less stressed about their finances and 56% feel their financial situation has improved. Practically it means that 49% of our users have avoided using a payday loan to cover an unexpected expense. 

It’s easy to see that the monthly pay cycle is outdated and carries significant hidden costs for employees, however for businesses to move to more flexible or frequent pay is expensive and inefficient. Wagestream has been designed to sit perfectly between payroll systems and employees, to help employees manage their flow of cash.

Don’t get left behind. Get income streaming.

As the world moves to a more on-demand lifestyle, employee’s expectations and needs are changing. One of the key drivers of workplace sustainability is better employee engagement. In many cases, paying staff is the most positive aspect of the employer / employee relationship,  so why not challenge the norm of the monthly pay cycle, and empower employees to better control their finances, strengthening the most impactful and engaging bond of all, pay.

To find out more about how income streaming works, click here.