Difficult economic conditions have prompted many employers to change their approach to financial wellbeing to help their people through tough times. While raising pay may be the most direct choice of options, this may not be sustainable in the long-term as rising operating costs restrict the money available to increase wages. Instead, organisations are redefining their benefits packages and reimagining the payroll function to help employees in new, innovative ways. 

Organisation: SUEZ 

Industry: Recycling and waste management 

Size: 35,000 employees in 40 countries 

Interviewee: Michelle Sutton, Head of Compensation and Reward

When recycling and waste management company SUEZ identified financial concerns among its workforce, it decided to launch a ‘payroll autosaving’ scheme to help improve employees’ financial wellbeing and resilience by fostering a ‘save before you get paid’ philosophy.  

Payroll autosaving works similarly to a pension scheme. SUEZ employees pay in a set amount each month and over time, build up a contingency fund, which they can withdraw at any time. New SUEZ employees are auto-enrolled in the scheme but can opt out whenever they choose.  

The scheme has been a huge success and won ‘Best reward and recognition initiative’ at the CIPD People Management Awards 2022. We spoke to Michelle Sutton, SUEZ’s Head of Compensation and Reward, about the thinking behind it. 

In this series

Case studies
Supporting employee financial wellbeing: Tesco Stores

Case study on actions taken to help employees improve their financial literacy and decision-making

Case studies
Supporting employee financial wellbeing: Leek Building Society

Case study on how one organisation implemented a range of pay and benefits measures to support employee financial wellbeing

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Supporting employee financial wellbeing: A Singapore-based aerospace company

Case study on how a lunchtime seminar programme is helping employees plan for retirement

Case studies
Supporting employee financial wellbeing: West London NHS Trust

Case study on how an employee financial wellbeing survey resulted in free breakfasts

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