£130,000 has been saved in the first 3 months

The impact of offering Stream

Building financial resilience for carers

In a sector where colleague wellbeing is paramount to the quality of care provided, National Care Group recognised the need to help its team improve their financial stability. They launched Stream to give their colleagues early, responsible access to their earned pay. 

NCG had initially considered the potential risk of employees constantly drawing down their pay, but the outcome proved the positive impact Stream was having on employees financial habits.

These were the results after just eight months:

73% adoption,
£130,000 saved within the first 3 months,
82% access Track, on average 10 times per month,
76% of enrolled have opened a savings pot, with over £500,000 deposited,
100% report feeling more in control of their finances,
100% say they feel happy with NCG for introducing Stream,
14% sleep better,
30% say they can focus more on doing a good job at work,
11% say they are likely to work with NCG for longer.

Impact on wellbeing and business outcomes

The implementation of Stream did not just improve financial health; it translated directly into enhanced personal wellbeing and operational improvements for National Care Group:

Colleague Wellbeing

• Focus at work: 30% of colleagues reported they can focus more on doing a good job.
• Reduced stress: 14% reported they sleep better, indicating a reduction in financial stress.
• Enhanced financial literacy: 82% of colleagues tracked their earnings (on average 10 times per month), demonstrating active engagement with their finances.

Operational Benefits

• Cost savings: Within the first three months, NCG saw £130,000 added to savings accounts.
• Reduced agency spend: NCG saw more colleagues picking up extra shifts and doing overtime to earn more, resulting in reduced reliance on agency staff.
• Improved retention: 11% of colleagues said they are likely to work with NCG for longer, supporting the organisation's retention efforts in a competitive sector.
• Eradication of emergency loans: The provision of early access to pay has:

"pretty much now eradicated the need to provide company-leveled loans or emergency loans or pay advances to colleagues."

Claire Leake, Chief People Officer, noted that the data on savings provided strong assurance that Stream was the right decision:

"Of those enrolled colleagues... we have 73% of our colleagues enrolled who have got a savings pot, and within the first three months, £130,000 have been saved by our colleagues, which I think is absolutely outstanding."

By providing financial control, National Care Group has delivered a key talent attraction and retention benefit, while also upholding its commitment to delivering high-quality care supported by a more stable and financially resilient workforce.