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Wed 20th Jun 2018 - New partnership to ‘revolutionise’ hospitality workers’ pay
New partnership to ‘revolutionise’ hospitality workers’ pay: Fourth, the software partner to the hospitality industry, has partnered with Wagestream in a ground-breaking move that will combine their technologies to give hospitality workers complete control over when they get paid. Employees can withdraw the pay they have earned up to that point, including tips, at any time during the month. The companies said the exclusive partnership demonstrated their commitment to supporting the hospitality industry in a revolutionary move that would improve the financial health and welfare of employees while reducing the churn rate of workers and associated training costs. They added that in the current competitive environment, this was particularly important for back-of-house roles such as chefs. Under the agreement employees will be able to see the total amount of money they have earned in a month via an app and instantly access their pay whenever they need it. Employees will typically be able to access between 30% and 40% of pay ahead of their monthly payment date. There will a £1.75 administration fee per transaction regardless of amount, which can be paid by employee or employer. All payments facilitated by Wagestream will be deducted from the normal monthly pay cycle overseen by Fourth, meaning there is no impact to the normal payroll process or company cash flow. Fourth chief executive Ben Hood said: “Hospitality employees will now have more control over their cash flow, removing one-off payment pinch points to reduce the negative impact of financial stress and giving the opportunity to work an extra shift on a Friday to be able to buy the latest Nike trainers being released the next day. The power of this cannot be underestimated. This will make a fundamental difference to the lives of thousands of workers and, in doing so, generate a more motivated workforce while reducing sick day frequency and creating a tangible point of difference in attracting and retaining the best staff – particularly among millennials and centennials, who demand autonomy and control. This is the future of payment and we’re delighted to be at the forefront.” Wagestream chief executive Peter Briffett added: “This move will further encourage all employers in the industry to put the financial and mental wellness of staff firmly at the top of the agenda.”

Operators to showcase vegan offerings at new festival: Old Truman Brewery in Shoreditch, east London, is to host a new vegan lifestyle festival called V For. Taking place throughout August, V For will offer a platform for vegans, vegetarians and the “V curious” to celebrate “plant-based food and conscious living”. The event will feature an expansive edition of London’s vegan night market Vegan Nights on Thursday, 2 August, while Juju’s and Ninety One will offer new vegan menus on 11 and 12 August. Meanwhile, Brick Lane Food Hall will open its doors to exclusively vegan and vegetarian food traders for the first time on 4 and 5 August. American-Mexican fusion concept DF/Mexico will launch its own vegan menu during the festival as part of its ongoing offering in Hanbury Street. V For will also showcase the best of ethical fashion as well as health and wellness activities such as yoga and fitness workshops.

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