COVID 19 has been the biggest challenge to hit the NHS since its creation in 1948.
Amongst the many challenges faced as a result of the pandemic, adequate staffing has become increasingly difficult. With trusts looking for innovative ways to increase their fill rates, a recent revelation is the impact that instant access to wages earned is having on shift fill rates.
Instant access to wages earned
Among other services, Allocate and Wagestream are working together to provide InstantPay to trusts and their staff.
The service means staff can access the wages they earn as soon as they earn them. It means that trusts providing the service have been able to fill shifts easier and increase their shift fill rate.
It’s a simple process, a member of staff books a shift through HealthRoster or their rostering manager. As soon as a shift has been completed and finalised, InstantPay provides instant access and visibility for the wages earned.
One trust using Allocate InstantPay has seen enrolled users doing on average 8.7 hours of bank shifts per week, compared with 3.6 hours for non-enrolled users.
By offering instant access to wages earned, staff can feel the immediate financial advantage to taking on more shifts.
With households seeing a reduction in overall income by up to £515 per month, this increased access could be a vital lifeline to many right now.
“It is a very useful system, as it is good that you can draw out cash from it after you’ve worked it.”
Maternity Support Worker, Royal Surrey NHS Foundation Trust
“InstantPay puts you in control of your money and makes it easily accessible when needed.” Occupational Therapist, Royal Surrey NHs Foundation Trust
27% of NHS staff reported that InstantPay had meant they avoided using a payday loan.
Tracking wages in real-time
Through the integration with HealthRoster, the technology also enables staff to see how much they’re earning in real-time, all through the app.
This feature gives staff a better understanding of their wages and helps staff manage their finances and potential shortfalls where they can pick up extra shifts. It’s particularly useful for purely bank staff members, who may experience fluctuating monthly income.
“Features such as seeing your daily rate makes you more motivated to work.”
Sister, Royal Surrey NHS Foundation Trust
“It is nice to have knowledge of how much you are likely to earn without waiting for payday. It is nice to know that you can actually access your wages.”
Junior Sister, Royal NHS Foundation Trust
70% of NHS staff reported that they felt more in control of their finances and 29% reported that they felt less distracted by their finances at work as a result.
The pressure on NHS staff is immense, and whilst it’s a multifaceted issue, helping staff, even in a small way when it comes to their finances can help to ease some of the day to day pressures.
To understand more about how InstantPay can help your trust, get in touch.
