The Perfume Shop strengthens employee support with new financial wellbeing platform

British fragrance retailer The Perfume Shop has introduced a new financial wellbeing initiative for employees.

The introduction of financial wellbeing platform Wagestream forms part of the chain's ongoing commitment to supporting its teams.

The platform has launched across The Perfume Shop's UK and Republic of Ireland operations, allowing over 2,000 employees to track and access their wages, set aside money directly from their salaries for a rainy-day fund, and access financial education.

Nearly 40% of the retailer's UK workforce and over 50% of the Republic of Ireland workforce have already downloaded the app.

The move comes as The Perfume Shop continues to support its employees through various financial initiatives, including increasing pay by 10% to the real Living Wage in January this year.

The business said it also rewards and recognises hard work by paying commission to everyone who works in its stores through October, November and December, its busiest time of year.

Having launched in October 2022, The Perfume Shop has so far paid out more than £1 million in commission, with the average Sales Advisor earning an additional £250 during the period.

Outside of work, the fragrance retailer has enhanced its paid holiday entitlement for store teams. On joining, employees will receive 30 days paid holiday, which increases to 35 days at five years service and builds up to 38 days from 15 years service.

It has also reviewed its maternity pay offer and implemented enhanced pay for Store Managers, Deputy Managers and Head Office employees, alongside offering employee discount and savings.

Michelle Fellows, People & Development Director at The Perfume Shop, said: "The health and happiness of our employees is extremely important to us, which is why our People Strategy has a clear focus on financial wellbeing.

"With the continued impact of the cost-of-living crisis, we’re constantly looking at ways we can support our teams. We’re proud to be real Living Wage accredited employers and our new partnership with Wagestream, plus commission, enhanced maternity pay, additional paid holiday entitlement, in addition to all our established benefits has been hugely popular with our employees.

"We’re confident we offer one of the best suites of benefits and wellbeing offerings on the high street and these further investments demonstrate how much we value our teams."