Moray-based care home company Parklands is introducing a flexible pay scheme to help staff cope with rising costs
A Moray-based care home company has announced a new flexible pay scheme for employees to help them through the cost of living crisis.
Parklands Care Homes, which operates nine care homes in Moray and the Highlands, is the latest to sign up to Wagestream, a financial wellbeing platform for frontline workers founded in 2018 by charities such as the Joseph Rowntree Foundation. Its mission is to empower employees to instantly access, track, save and manage earned wages.
The platform ensures that Parklands employees can access up to 40% of their accumulated salary at any time of the month, in case of unexpected expenses. Wagestream also automatically connects to Parklands shift rotation system, Planday, to ensure shift workers can claim up to 40% of their wages for any overtime worked and be paid the following day.
It comes as a Wagestream survey shows that for four in 10 UK employees, financial pressures are their biggest concern, with fear of unexpected costs being the biggest concern for 47%. The survey also revealed that more than a quarter (26%) had run out of money before payday.
Elaine Taylor, Chief Operating Officer of Parklands Care Homes, said: “We are delighted to be partnering with Wagestream. At Parklands, we are committed to doing everything we can to support our employees.
“Our way of working is changing. The traditional pay-at-the-month model is not working for many shift workers, failing to address the cost of living crisis, and failing to allow employees to meet unforeseen expenses.
“This new system gives us greater working flexibility, which is vital during a pandemic, but also gives our employees the peace of mind that if they are faced with unexpected costs, they do not have to pay of charges. The majority of our employees are shift workers and this platform gives them the power to choose when they get paid, which is especially important in today’s financial climate. »
Parklands announced plans last week to build 24 affordable rental apartments in Inverness to house workers at its new care center in the city, which is currently under construction. The company hopes that providing affordable rental accommodation for its staff will encourage more skilled workers to take up new positions at the care center which will include a 58-bed care home and an 11-home village later.
Parklands has also introduced incentives for new staff, including a £2,000 welcome bonus for new full-time nurses and a £250 incentive for other new staff, including carers. Parklands is also a Youth Guarantee Employer and supports the UK Government’s Kickstart scheme for 16-24 year olds.
Care home firm wants to build flats in Inverness to help attract staff