PayCaptain & Plain Numbers to Strengthen Employee Financial Security
A historic partnership will allow individuals to get the most out of their payslips and better manage their money.
LONDON, UK, September 15, 2022 /EINPresswire.com/ — PayCaptain became the first payroll provider to partner with Simple numbers – in a program designed to give thousands of workers the confidence to understand their payslips. As the cost of living crisis and soaring energy prices cast a shadow over family finances, managing income and expenses has become a challenge for millions of British adults.
The new three-year collaboration between the award-winning, cloud-based employee payroll and payment system and Plain Numbers – a social enterprise helping businesses communicate more effectively with customers struggling with financial literacy issues – is designed to ensure that employees better understand their personal finances. The partnership is designed to give workers access to tools and strategies to help them make more informed decisions about spending and saving – an essential part of achieving financial security.
The Government’s Life Skills Survey found that half of the adult population in the UK has the everyday math skills of a child of primary school age. Additionally, more than a third of adults (39%, or 20.3 million) lacked confidence in managing their money. Meanwhile, too many employees aren’t getting the support they need to understand their finances and deal with a “financial emergency.”
PayCaptain’s innovative, award-winning app gives employees more control over how, when, and where they receive their pay. It makes payslips easy to understand, with practical, personalized advice on money management – as well as payment splitting, emergency cash, employer savings incentives, and payroll features. verification of tax code and benefits.
Simon Bocca, Founder and CEO of PayCaptain, said: “Employees have settled for too long with a payroll that does not meet their needs. Partnering with Plain Numbers is just one way to improve the financial security of thousands of workers. PayCaptain will ensure that people receive informative and engaging pay stubs and an app to help them make good decisions about what to do with their money. »
Anna Buckle, Head of Employee Experience at PayCaptain, said, “Poor numeracy is the most common consumer vulnerability, with approximately 20 million adults working every day. We want to create an easy-to-use payroll solution for people to confidently review their payroll and decide what they want to do with their hard-earned money. We’re thrilled to join FSCS, Aviva, and More Than in the Plain Numbers community.
Mike Ellicock, Co-Founder and Managing Director of Plain Numbers, said, “We are thrilled that PayCaptain is the first payroll technology company to partner with Plain Numbers. This partnership has huge potential to further improve PayCaptain’s innovative payroll solution by presenting the numbers in a way that more people can understand. With the cost of living crisis engulfing us, people realize that their incomes have become more important than ever. We are excited to start moving forward with such important work.