Newcross Healthcare offers Flexi Pay option to staff
16 December 2019
In a bid to drive recruitment and retention of staff, Newcross Healthcare has implemented ‘Flexi Pay’ technology which allows staff to claim an advance on their pay directly after they finish a shift, as opposed to having to wait until their official pay date on either a weekly or monthly basis.
The independent healthcare provider provides staff with access to the app, HealthForceGo, which is a bespoke tool, tailored to offer shifts to staff who have the relevant experience. Employees can then receive payment as soon as their shift has been validated and confirmed as completed. Newcross has teamed up with its banking partner, Lloyds Banking Group in order to facilitate this. Staff can request anything up to 50% of the amount of pay for the shift and this option is available to them all day, every day, throughout the year. The figure that has already been paid to staff outside of the standard payroll date will appear as a net deduction on their payslip the following pay period.
This signals a move away from the traditional method of paying employees on a weekly or a monthly basis and the intention is to provide support to employees who may require access to their finances in a timelier fashion. The minimum withdrawal amount is ten pounds and only one request can be made in a 24-hour period. There is a two-pound charge attached to each Flexi Pay withdrawal, which is deducted from the amount that is paid out to staff members.
The CEO and co-founder of Newcross Healthcare, Stephen Pattrick commented
“One of the reasons clients choose us is our ability to respond quickly to the needs of our service users. Sometimes that means placing staff with very little notice. If we’re asking our people to be flexible, I think we also have a duty of care to be flexible. That should include the way we pay them.
We’re investing in technologies which enable our staff to be auto-assigned shifts based on their availability, to train in an online learning environment and now to choose whether they request Flexi Pay at any time of the day to receive funds into their bank account instantly.
Flexi Pay is a first in the market and utilises pioneering technology from Lloyds Banking Group. The levels of usage and feedback we’ve received have been extremely positive and we’re excited to continue building new features that give our employees flexibility, freedom and choice to fit work around the other priorities in their lives.”
Since it was introduced in May 2018, 119,166 Flexi Pay requests have been made and a total of £13.5 million paid out, with the average value equating to £135.36. 6,026 Newcross Healthcare employees have used the service, proving that it is highly popular.
Flexi Pay and the gravitation away from the traditional method of paying employees on a fixed basis gives an insight into the ever-evolving face of payroll and how important it is for payroll departments to embrace change and prepare for the future. Other areas of interest are that of cryptocurrency and Artificial Intelligence, or AI. Methods of paying people and delivering a payroll service will not remain static and it seems that there will be many interesting and exciting changes over the coming months and years.
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