Follows 拢1m investment in on-off cash payments to employees
Skanska is offering to lend staff cash at low interest rates to stop them turning to payday loans as the cost-of-living crisis continues.
Working with financial wellbeing provider Salary Finance, the UK arm of the giant Swedish contractor will offer loans with an fixed APR of 7.9%.
Other financial benefits now available for employees are advances on earned pay, simply savings accounts which allow deposits to be made direct from pay, and a free financial education hub.
These resources follow the firm鈥檚 拢1m investment in cost-of-living supports, which enabled one-off payments of 拢750 for around 1,300 Skanska employees.
鈥淎s a values and purpose-led business, we want to do everything we can to support our people during what is a very challenging period for many households,鈥� said executive vice president Harvey Francis.
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鈥淥ur financial health is a vital part of our wellbeing. Unfortunately, most of us worry about money at some point in our lives, but recent increases to the cost of living have made financial concerns a key consideration for many more of us.鈥�
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