Funding Circle unveils £200 “wellness allowance” for staff
Funding Circle is now offering employees a £200 “wellness allowance”, as part of an enhanced package of benefits as it recruits for more than 70 new roles in the UK.
The alternative business lender said the allowance is designed to give its employees – who it calls Circlers – the freedom to choose what they need to live a more healthy and balanced life.
The “wellness allowance” is part of a larger package of benefits for Funding Circle employees, called the ‘money to do more’ scheme, which includes a previously established learning and development allowance of £300.
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“From new running shoes and gym classes/memberships, to a good book or cookery lessons, it is for Circlers to decide what will make a difference to their wellbeing,” Funding Circle said. “Circlers can also transfer their wellness allowance to support their learning and development allowance if they so wish.”
Funding Circle, which exited the peer-to-peer lending space earlier this year, said it has set aside £300,000 this year for its ‘money to do more’ scheme. The scheme sits aside other employee benefits including enhanced parental leave, equity in the business, private medical insurance and an electric car scheme.
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“Funding Circle is a mission-led business and our people and our culture are among our most important assets,” said Alexander Allen, UK managing director at Funding Circle.
“We’re really proud of the value we place on the career development and wellbeing of our Circlers. Who else gives you money to buy running shoes or take up a new hobby of your choice? If it helps our Circlers feel good and find the right balance then it’s important to us as a business.”
Funding Circle’s latest employee benefit comes as the number of job vacancies in the UK rose to a record 1.3 million, according to official data from the Office for National Statistics.
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The country is suffering from severe staff shortages, as hundreds of thousands of people who left the workforce when the pandemic struck have chosen not to return.
Furthermore, lockdown-imposed working-from-home measures for white collar workers have led to increased demands for flexibility and better wellbeing.
