Salary advance schemes | Could these help with the cost-of-living crisis - or make it worse?

Employers looking to help out their staff during the cost-of-living crisis are increasingly partnering with companies offering salary advance schemes.

These Employer Salary Advance Schemes (ESAS) are a way for employees to access up to 50% of their wages before payday, and are essentially loans that are administered through a third party, rather than their employer. The third party connects with the employer’s payroll to let the employee draw some of their wages in advance.