improving retention with financial wellness · next gen salary app that supports personal budgeting...

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Peter Briffett [email protected] +44 7789 202872 wagestream.co.uk Improving Retention with Financial Wellness

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Page 1: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

Peter [email protected]+44 7789 202872

wagestream.co.uk

Improving Retention with Financial Wellness

Page 2: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

The Problem:UK families don’t have enough savings

• 55% of UK families could not cover a £250 unplanned expense

• These families are penalized £3.4B/year:• £1.2 billion Unarranged overdraft fees• £2.2 billion Predatory payday loans (1000%+ APR)

• Employers want to help, but have no scalable solution for payroll cash advances

• Everything today is instant, but in the UK, 85% of workers are still paid once per month

Sources:ASHE 2017, Office of National Statistics

https://www.moneyadviceservice.org.ukhttps://www.experianplc.com

https://www.verdict.co.uk

NotEnough

Cash

Loans & Overdrafts

Higher Payments

Same Income

Pay bills

The Cycle of Debt

Page 3: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

Your biggest employee issue

Page 4: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription
Page 5: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription
Page 6: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription
Page 7: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription
Page 8: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

Source: Barclays financial wellbeing survey 2014

UK Companies have been

slow to respond

Page 9: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription
Page 10: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

Current World

Page 11: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

New World

Page 12: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

Technology that enables your employees to pay bills on

time, avoid late fees, and pay for

unexpected expenses.

Can you even out payment dates to end Employees Financial Stress?

Page 13: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

Product: Mobile app for workersA solution that instantly impacts your employees’ financial welfare

Page 14: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

40% Increase in Staff Retention

100% Increase in job applicants

10% Increase in Productivity No changes to your normal payroll

Page 15: Improving Retention with Financial Wellness · Next Gen salary App that supports personal budgeting and financial management. Built off Barclays account, Fixed monthly subscription

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