An employee benefit to enhance staff wellbeing
By working with retailCURe retailers can be sure that employee wellbeing is at the heart of what we do
Support for retailCURe has come from across the retail industry, led by companies who understand the value of a trusted financial partner for their employees. By working in partnership we can help alleviate debt-related stress and anxiety by encouraging staff to increase their savings and providing access to affordable credit when needed. This can help improve productivity, boost morale and reduce turnover
Building on 180 years of success
In such a competitive environment, retailers need to retain their best staff. These days employers provide a broader range of benefits beyond traditional motivations of job content, pay and bonus incentives. The costs of recruitment and retraining to replace staff can take significant chunks out of budgets.
Access to credit union services through a unique Save As You Earn scheme is a cost-neutral way to enhance your employment offering, showing your commitment to employees’ financial well-being.
A payroll scheme allows employers to easily deduct regular amounts directly from an employee’s salary straight into a credit union account before it reaches their bank account; representing a pain-free way to save and borrow.
Research from Barclays found that it is savings, not income, which determine a person’s financial well being. This includes having a ‘savings buffer’ – a pot of money set aside for unforeseen outgoings – and contributing regularly to saving.
Now more than ever, people need a little nudge to save. The Money Advice Service has found that four in 10 UK adults have no more than £500 in savings, whilst the Office of National Statistics suggests that 16 million people have nothing at all in their bank account. Legal & General discovered that the average household has enough money to last just 29 days. This falls to just two days for those in private rented accommodation.
We want to stop this problem before it gets any worse. retailCURe is here to help you support your employees develop better money management skills and get themselves out of debt through specialist support, advice and access to responsible financial services.
retailCURe is part sponsored by Retail Trust. Retail Trust was formed in 1832 and is the only charity looking after the needs of all three million people working in, and retired from, retail and related businesses. The charity engages with retailers across the sector from major grocery chains and fashion brands to independent stores, including Morrisons, New Look and Next.
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