Aioi Nissay Dowa Europe (AND-E) has introduced a new platform to boost the financial health of its workforce.
The insurance business, which employs just under 600 people at offices in London and Newcastle, is offering staff the option to access a portion of what they have earned before payday in a bid to ease cashflow problems.
Employees will be able to use the Earned Wage Access platform, provided by Wagestream, to take up to 50% of their earnings throughout the month. The charity backed tool will also enable them to view their bank transactions and have personalised financial coaching available 24 hours a day.
Gemma Robinson, people and culture director at Aioi Nissay Dowa Europe, said: “Employers can’t influence inflation or control the cost-of-living crisis. However we do believe we have a role to play in helping our colleagues in these difficult financial times.
“By utilising this on-demand pay app, our employees can access a proportion of their salary if they need to deal with cashflow demands, helping them stay in control of their finances and alleviate stress.”
With people at various stages of their working lives being impacted by the cost-of-living crisis, AND-E hopes that by by offering more flexible payment technology and access to financial coaching it can help to “alleviate the stress this causes in an unobtrusive, supportive and confidential way”.
Robinson added: “Investing in the financial education of our colleagues isn’t just the right thing to do, it makes good business sense too. It’s a win-win for employer and employee.
“AND-E UK is an ambitious business, and we cannot achieve those ambitions without our dedicated teams. That’s why we are committed to putting our people first. We don’t just talk about putting our people first, we make sure they know they really do come first.”