Our Co-op in action – new colleague benefits
In direct response to our colleagues’ feedback, in October 2022 we launched a new colleague benefits platform, Your Benefits Gateway. Your Benefits Gateway is a ‘one stop shop’ for all colleague benefits, bringing together access to every tool and resource available from our co-op to support our colleagues’ financial wellbeing. The dedicated website includes access to discount and benefit schemes to empower our colleagues to save money on almost anything, from everyday groceries and healthcare to new technology and even trips to the cinema. There are hundreds of offers from top high street retailers including M&S, Currys PC World, Cineworld, Hotels.com, John Lewis and many more. As of January 2023, our colleagues had made more than £4,500 of savings.
The successful launch of Your Benefits Gateway was followed by Wagestream, an initiative that allows our colleagues to access up to 30% of their pay, in advance of payday, as well as providing expert coaching, tools, tips and articles to help support the management of their personal finances. In December, we launched a third new benefit: SmartTech, a service designed to help manage unexpected expenses. Through SmartTech, colleagues can purchase new technology at point of need and then spread the payments over 12 paydays, interest-free.