Hastee is an award-winning earnings on demand technology, offered as a benefit that enables workers to take a portion of their earned pay, on demand, increasing choice and financial flexibility. It’s an ethical alternative to taking on debt from sources of credit and is designed to stop the cycle of accumulating interest fees facing those borrowing money month to month. Evidence suggests that this is an intervention that should improve employee wellbeing by contributing to financial safety.
Together with What Works Wellbeing, Hastee shared a mission to help people and communities to thrive. Hastee will support What Works Wellbeing in developing practical support for organisations and people to understand what wellbeing is; how to measure it; and what works to improve it.
Joining the member of the Business Leaders Wellbeing Council, Hastee becomes one of a small and carefully selected group of businesses from across industry sectors. Together they work with organisations with an on-going commitment to promoting better wellbeing in the workplace. These wellbeing leaders also consider wellbeing in supply chains; of consumers; and within society as a whole.
Hastee is on a mission to solve the nation’s reliance on high-cost credit, most notably payday loans, credit cards and overdrafts, by providing fairness and financial freedom to workers. Its award-winning financial wellbeing technology lets workers access up to 50 per cent of their earned pay on demand, via the Hastee App or Hastee Card, a dynamic debit card. Hastee funds each withdrawal, with employers reimbursing Hastee on each normal pay day, meaning it does not impact companies’ cash flow.
Hastee CEO James Herbert said: “This investment will help us support a greater number of organisations in reducing financial stress, increasing wellbeing and improving the lives and productivity of employees and, as a result, their organisations. Our goal is to provide users access to a portion of their earned pay in real time and put an end to high-cost credit that can impact their financial health.”
Nancy Hey, Director at the What Works Centre for Wellbeing said: “Hastee is joining a movement committed to measuring and using wellbeing data and the latest evidence on what works. Importantly, this data can inform action to improve wellbeing of staff, clients, and the wider community. Better wellbeing is a goal in itself, with the knock-on effect of improved productivity and more resilient organisations.”
Hastee joins other members of the What Works Centre for Wellbeing including the Department for Works & Pensions, The Health Foundation, Universities UK, and Public Health England. The What Works Centre for Wellbeing is a member of the What Works Network alongside bodies including the National Institute for Health and Care Excellence, the Education Endowment Foundation, the Centre for Ageing Better, the Centre for Homelessness Impact, and the What Works for Children’s Social Care.