SD Worx expands financial wellbeing offering with Wagestream partnership
31 January 2023
International HR and Payroll services provider, SD Worx, is partnering with financial wellbeing provider Wagestream, to help businesses build workplaces that are more inclusive, fair and rewarding for their people – with a set of fair financial services built around pay.
Wagestream is a financial wellbeing platform founded with social impact funds. Offered through hundreds of employers, more than two million people can now choose their own pay cycle, manage their budgeting, save for a rainy day, chat to a personal money coach, and get fairer deals on financial products – all in the Wagestream app.
Recent research shows that as the cost of living rises, most (70%) of workers are now worrying more about money - with 76% citing declining mental health as a result. The recent State of Financial Wellbeing index also found that employers have rushed to fill the gap left by traditional financial institutions: 93% now have or plan to have a financial wellbeing policy in place, up from 51% in 2021. By partnering with Wagestream, SD Worx will expand its pay proposition for clients - giving them access to the world’s most widely-used financial wellbeing platform.
The solution also facilitates ‘pay on demand’, where employees can draw a percentage of their wage earnt at any point during a pay cycle, rather than waiting for an isolated pay day.
Wagestream was founded with a social charter: every service it provides must measurably improve financial wellbeing. Three quarters (77%) of people feel less stressed and 72% of people feel more in control of their money, once they have access to Wagestream - leading to a happier, healthier, more productive workforce, and improved recruitment and retention for their employers.
Max Lintott, General Manager at Wagestream adds “Under-served, overlooked workers are worrying more about money, while powering the economy and keeping our essential services running.
Partnering with SD Worx, a leading provider of people solutions means we can reach more of those workers with the support and services they need and deserve - through caring employers who we know want to help. The data also shows those employers will benefit too with faster recruitment, a reduction in turnover and an increase in productivity."
To find out more about the SD Worx offering, visit: www.sdworx.co.uk
About Wagestream
Wagestream is bringing better financial wellbeing to workers, by giving them access to fair financial services through their employer.
Offered through caring employers like Bupa, Greene King, Pizza Hut, Next and the NHS, two million people can use Wagestream to choose when they get paid, manage their budgeting, save for a rainy day, chat to a personal money coach, and get fairer deals on financial products - all in one app.
Wagestream was founded with impact funds and a social charter: every service it provides must measurably improve financial wellbeing. More than 70% of people using Wagestream feel more in control of their money - leading to a happier, healthier workforce and improved recruitment, retention and productivity for their employers.
About SD Worx
SD Worx believes that success starts with people. A thriving workforce doesn’t just build a thriving company, it also contributes to society. Together with its customers, SD Worx sparks successful HR that benefits work, life and society.
As the trusted leading European HR and payroll solutions provider for all organisations and workers, SD Worx delivers software, services and expertise across payroll & reward, human capital management and workforce management. SD Worx has deep roots across Europe and has been leading the way for eight decades together with its customers, employers big and small, to spark employee engagement that ignites success at the heart of their business.
About 95,000 small and large organisations across Europe place their trust in SD Worx. The almost 10,000 colleagues operate in 27 countries. SD Worx calculates the salaries of approximately 6 million employees and ranks among the top five worldwide. It achieved a revenue of EUR 1.180 billion in 2024.
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