Employee Benefits poll: More than three-quarters (76%) of respondents think that employers should support employees to afford rental deposits and housing costs.
A straw poll of www.employeebenefits.co.uk readers, which received 83 responses, also found that 22% of respondents do not believe employers should help staff with rental deposits and housing costs, while 2% do not know what the employer’s role is with regards to these types of benefits.
Last month, retail organisation John Lewis Partnership launched a property rental benefit for its 85,500 John Lewis and Waitrose employees to support staff financial wellbeing.
The benefit, provided by Canopy, was introduced on 18 May 2018 and enables employees to rent accommodation without a cash deposit, as well as helping staff to build a positive credit score.
Employees who are currently renting a property, or who are planning to do so in the future, are able to use Canopy’s rent tracking service. This allows staff to automatically reconcile their rent payments and improve their credit history, using open banking technology. Employees are also able to add rental payments to their credit history using the Canopy app, to further improve their credit rating.
The benefit also enables employees to access an insurance-based, deposit free alternative to typical cash deposits, which can help to make the moving process more affordable. This service is underwritten by Hiscox.
Employees can additionally use the Canopy app to create a rent passport, which helps staff build a trust score by instantly verifying income, creditworthiness, employment, regular rent payments and past references.
Should working carers have distinct employment rights in addition to those of employees? Have your say in our latest poll…