CTT & Paynest Case Study: Boosting EVP and financial wellness

CTT, one of Portugal's largest employers and most recognised brands, boasts a workforce of over 12,000 individuals across various roles—postmen, couriers, retail staff, banking, tech, and administrative services. Although recognised as a top employer, CTT still faces the universal challenge of improving their employee value proposition across the organisation, in order to attract, empower and retain talent.

Managing such a large team also means handling large admin workload to process salary advances, subsidies, approve and reimburse employee expenses. Employee satisfaction and wellness is top of mind for the entire organisation, and being able to help the financial wellness of its employees is an important social mission.

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A Seamless Platform that Boosts Retention, Efficiency and Financial Wellness

Paynest’s all-in-one platform provides modular solutions designed to tackle the diverse challenges of a large, multidisciplinary company like CTT. Through a single app, employees can instantly access earned wages and request advance allowances, giving them greater financial control and wellbeing. At the same time, employees receive personalised support from a financial coach specialised in personal finance.

Expense submissions are simplified—fully digital and fast—streamlining the reimbursement process while giving real-time AI-powered control to finance teams over employee expenses. For CTT, this platform centralises all employee-related financial processes, driving greater efficiency and enhancing employee satisfaction & engagement.

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A More Engaged Workforce

By providing an innovative and holistic solution to their employees’ financial stress, CTT can increase employee engagement and satisfaction contributing to its social mission. This strategy leads to significant reduction in employee turnover, particularly among postmen, distribution and retail staff; which is one of the top priorities for the group with a materially relevant  financial impact.

Furthermore, automating the management, approval, and payment for advances, bonuses, expenses and travel reports, frees up a significant administrative workload across HR, Finance, Accounting and Commercial teams, translating into annual savings and enabling the teams to focus on driving business growth. We are currently rolling out the solution across the CTT group.

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Testimonials

Sílvia Correia, Head of Human Resources, CTT
“At CTT, we are committed to continuously enhancing our employee value proposition and addressing the financial wellness of our workforce. By partnering with Paynest, we have implemented a solution that not only simplifies financial processes but also empowers our employees with greater financial control and personalised support. This initiative is already showing a materially relevant impact on our retention efforts, particularly among key operational roles like postmen and retail staff, and is contributing to a stronger, more engaged workforce across the entire group.”

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Nuno Pereira, Co-Founder & CEO of Paynest

“CTT is the ideal company profile to fully benefit from Paynest’s all-in-one platform due to their diverse workforce and strong focus on innovation & social responsibility—not only the solutions we currently offer but also the future ones aimed at addressing all employee financial matters. It’s a truly powerful partnership for both sides."

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Article published on The Portugal Fintech Report 2024.