About HCL
HCL is a catering industry employer with 1,500 employees, using Pay, Budget, Track, Claim, Workplace Savings, Workplace Loans, Rewards and Coach.
Why did HCL need Stream?
Before partnering with Stream, HCL already offered financial wellbeing support through another provider. However, the experience created significant manual administration for payroll teams, including manual deductions on payslips each month, and loan reconciliation processes.
At the same time, HCL wanted to provide employees with a broader set of financial wellbeing tools that could support a varied workforce whilst also continuing to support employees with access to flexible pay, savings and responsible credit, particularly within a workforce where many employees combined working with receiving benefits.
“We found the administration quite onerous. We were concerned about how that would be, because we are still processing payments for loans from our previous provider, and there is still admin associated with that.”
What challenges did Stream solve?
One of the key reasons HCL partnered with Stream was the direct integration with MHR, helping automate processes that had previously been manual and time consuming.
HCL needed a solution that would:
- reduce payroll administration
- integrate seamlessly into existing systems
- support employee financial wellbeing
- encourage stronger long-term financial resilience
The implementation process was completed smoothly with support from both the Stream and MHR teams, allowing HCL to launch without disruption during a busy financial period.
For payroll and HR teams, the integration has significantly reduced administration while providing a much simpler experience for employees.
“The fact that Stream integrates directly with MHR has been a massive benefit for us. It’s reduced the amount of work our payroll team has to do because it all happens pretty automatically. Compared to our previous provider, Stream has been significantly easier to manage operationally while offering a much better employee experience.”
What measurable outcomes were achieved?
What was the business impact?
- Driving adoption well beyond expectations
Employee adoption exceeded expectations from the outset. Within the first 90 days, HCL achieved approximately 40% employee registration, eventually growing to more than 52% adoption across the workforce, significantly above typical industry benchmarks. More than 200 employees actively use FlexPay each month, helping them better manage cash flow, cover everyday expenses and deal with unexpected costs. Employees also report feeling more confident in managing their finances:
“Stream is one of those benefits that genuinely adds value for our employees. People simply use it and get on with it, which for us is a real sign that it’s working.”
- Building financial resilience through savings
The biggest surprise for HCL has been the success of workplace savings.
While flexible pay and loans were expected to be popular, nearly 500 employees have opened savings accounts through Stream, collectively saving over £120k since Stream was launched. Compared to the three or four employees who used the savings offering from HCL’s previous provider, adoption has been transformational.
For a workforce where many employees are balancing household budgets against rising living costs, the ability to save directly from pay has helped create a simple and accessible safety net for unexpected expenses.
“The savings side has been an absolute bonus. I had no idea it was going to be as successful as it has been. Helping employees save for a rainy day or unexpected bumps in the road has been fantastic.”
- Access to responsible credit
HCL also valued Stream’s approach to responsible lending. 43 loans have been issued with 35% of loan issues being used for either car maintenance or debt consolidation. This has saved on average £25,500 in interest rates that Stream users would typically find on the high street banks.
The organisation values Stream’s responsible approach to lending, helping employees access affordable borrowing while providing reassurance that support is being delivered fairly and transparently. For employees who may struggle to access affordable credit elsewhere, Stream’s affordability checks, payroll-linked repayments and Price Promise provided reassurance that employees were accessing safer borrowing options.
“The Price Promise helps reassure us that we’re promoting something genuinely beneficial and not taking advantage of employees.”
Looking ahead
Following strong employee engagement and positive operational outcomes, HCL continues to expand its financial wellbeing strategy with Stream.
The organisation is particularly excited about the future of personalised financial education and coaching through W4.
“I was really interested to see the education you’re putting into the platform and the bite-sized nature of it. I’m hoping those features will prove really popular too.”
Alongside strong engagement with Stream, HCL has also seen employee turnover reduce over the past 12 months. While HCL cannot attribute this to any single initiative, providing practical support tools such as flexible pay, savings and responsible credit forms an important part of the organisation’s wider employee experience strategy.
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