Salary Finance

Salary Finance

Who we are

Salary Finance exists to help hard-working NHS employees improve their finances, so they can focus on what really matters - patients. We have an award-winning financial wellbeing platform that helps NHS staff pay off debts faster and at lower cost, and then makes it easy for them to start saving regularly. Salary Finance is a proven solution in NHS: watch the case study here.

Why what we do is important

Today, a quarter of the UK workforce are experiencing financial insecurity and 8 million people have no savings at all. Financial burdens are clearly weighing heavy on millions of hard-working people, negatively affecting their health and happiness - both at home and at work.

This is especially true for NHS employees, who topped the list of UK workers applying for payday loans this year, with the most common reason for requested loans being “to pay bills.” This eye-opening data, compiled in April 2018, shows how years of stagnant wages have negatively impacted the financial health of NHS staff and, in turn, their wellbeing and engagement. Moreover, it exposes just how stressful their financial realities really are.

Our value to the NHS and its employees

The passionate team at Salary Finance is systematically tackling financial stress in the NHS by providing an innovative and socially-responsible portfolio of employee savings, education and borrowing products. These solutions are provided at no cost or liability to the NHS Trusts we partner with, making it a genuine win-win.

Fundamentally, more engaged staff provide a better care experience for patients. There’s a significant NHS evidence base supporting this, with studies like those of Michael West drawing a direct link from staff engagement to reduced mortality rates. Hence, Salary Finance supports the wider NHS goals of boosting employee engagement, reducing the costly rates of absenteeism and, ultimately, improving patient outcomes.

In addition to its value for staff engagement, Salary Finance’s positive impact on employee morale and mental health can be transformative. You can get a real sense of its impact on staff wellbeing through the first-hand testimonials seen in the Salary Finance in the NHS Case Study Video.

Salary Finance is an accredited provider to the NHS and has helped tens of thousands of hard-working people in the UK so far. We provide a flexible staff benefit, which relieves the harsh financial stresses for employees who choose to take advantage of it by saving them £600 in interest on average, allowing them to pay off their debts 6-12 months sooner, increasing their credit scores by ensuring ‘on-time, every time’ loan repayments and helping them save when they wouldn’t have otherwise.

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