fastP.A.Y.E gives you full control over all key decisions such as how often payments are made, how much they amount to, which employees receive it and ensuring messaging is in line with company values.
Our model doesn’t rely on borrowing money to pay your employees. As there are no interest payments to meet, we can be flexible and agree a model that supports your financial well-being strategy.
fastP.A.Y.E was founded and is owned by ShopWorks, a workforce management company which has many years’ experience supporting some of Britain’s best known businesses.
We believe that charging someone to access their pay when they are on Minimum Wage and showing that deduction on the payslip goes against the spirit of the service and do not assist with financial well-being.
fastP.A.Y.E runs without any implications or the need to change your payroll. We provide you with a file via API integration or SFTP transfer allowing the net deductions to be made.
Employers offering a Salary Advance App report a 41% reduction in staff turnover. One in five workers would consider a new job in the same role if it gave them access to their already earned wages before payday. With the growth of the gig economy and the threat Brexit offers on foreign workers in the UK, are you struggling to keep your employees?
Given the benefit to access their earnings soon after they earn them, employees are willing to take on more shifts and more unsociable hours, helping your business fill in those hard shifts nobody wants.
Employers offering a Salary Advance App report a 90% increase in the number of applicants for jobs they are offering.
Employees appreciate that their employer is actively trying to support them. Stress caused by financial concerns – which can affect work performance - is reduced. Users of Salary Advance Apps have been found to be 73% more motivated.
Our model is socially responsible and doesn’t rely on borrowing money to pay your employees. As there are no interest payments to meet, we can be flexible and agree a model that supports your financial well-being strategy.
46% of staff experience increased stress levels during the week before pay day. fastP.A.Y.E can reduce stress even for people who may only need it once or twice a year and provides a useful flag for HR intervention amongst the 4% of the population who have “problem debt”.
12.7% of all sickness days in the UK are caused by mental health issues. With money worries being a significant contributor to stress and poor mental health, a Salary Advance App can have a significant impact.
We start by requesting the completion of a simple safeguarded bank account form, this is used to facilitate all fastP.A.Y.E transactions. In parallel we will work with your key stakeholders to outline an implementation strategy and setup your version of the application.
All staff that are eligible for fastP.A.Y.E will receive an email invitation, they will need to accept an invitation to link to their relevant employer. All invitations are unique and will be associated with a unique label for reporting consistency.
In addition to accepting an invitation, employees will be required to fill out a simple registration form and add their bank account, in order to receive their wages.
Employee balances will be updated as part of the process defined with the employer, allowing employees to access their wages instantly.
All transactions within your fastP.A.Y.E availability window will be exported and provided to the payroll team as file export or as part of an API integration.