How Bippit is helping quality retail businesses like Astrid & Miyu

How Bippit is helping quality retail businesses like Astrid & Miyu

 

How Bippit is helping quality retail businesses like Astrid & Miyu

Astrid & Miyu is on a mission to revolutionise the jewellery experience.

In an industry that’s largely defined by luxury price points or mass production, and stale or impersonal experiences, theirs is a company that wants to do things differently.

Central to this, is a passion for working as a team to break down boundaries, learn together, and grow together. Alexia Aronsten, People and Culture Director at Astrid & Miyu, explains: “we want to support our people holistically. We cannot ask them to flourish at work if they’re not flourishing in their personal lives.”

“Mental health is a huge conversation in our workplace, and the link between mental and financial health is very, very close. So much stress comes from poor financial wellbeing. The problem is, that unless you have financially savvy friends or family, we often don’t receive the education needed to manage our finances.”

The power of financial support in the retail industry

Last year Astrid & Miyu ran an employee engagement survey to gather feedback, and financial wellbeing came up as the company’s number one challenge. This was unsurprising, as Alexia describes…

“Most of our young workforce is in London and in entry-level roles. The retail industry doesn’t pay huge amounts, which makes living in one of the most expensive cities in the world a real struggle.”

“We’ve benchmarked everyone’s pay but I think pay rises in themselves aren’t always the fix. They provide motivation for a short amount of time but their novelty soon wears off once people have adjusted to a new salary and lifestyle.”

“We want to make sure our staff are supported in managing their money effectively and have the guidance they need. We want to help them make their salary go further.”

This is why Alexia turned to Bippit’s financial wellbeing platform.

 

The importance of variety and control

Bippit can improve an employee’s financial literacy through a wide array of supportive features, such as tailored educational resources, goal setting, analytics, webinars, or expert one-to-one coaching. It’s this variety that appealed to Alexia.

“Unlike other platforms, all of Bippit’s coaches are qualified financial experts and the platform caters to all types of learning. Some of our team will want to learn through reading, some through webinars, and others through personal coaching. Bippit provides all of those options.”

“Bippit’s pricing model also puts us in control. We don’t pay per coaching session, but just per person. It means we have a better idea on what to budget for and we don’t have to limit people’s sessions.”

 

Breaking the taboo of financial conversations

In the past few years we’ve seen a huge, and vital, rise in conversations about mental health. There is less stigma surrounding it – both in our personal lives and at work.

Sadly, talking about money still remains one of society’s biggest taboos and that’s something Alexia wants to tackle. “It’s rare that friends talk about money or how they’re doing financially. We want to make money part of the conversation.”

“It’s why Bippit’s monthly webinars are so brilliant. Our employees can see why they need financial support and how helpful it can be for them.”

“If I think back to my younger self, I wish I had had something like Bippit. It will have a big impact for our team quickly, and will make it much easier for everyone to manage their finances. As a company looking after people, that’s all you can ask for.” 

Want to improve your team’s financial health?

Along with the likes of Sipsmith and What3words, Astrid & Miyu is one of the many companies benefitting from Bippit’s all-in-one financial wellbeing platform. 

What to support your team’s financial wellbeing? Book a free Financial Wellbeing Lunch & Learn for your workplace.

 

Ready to explore how Bippit can

support your team?

Working with Sipsmith to improve financial literacy

Working with Sipsmith to improve financial literacy

 

Working with Sipsmith to improve financial literacy

Back in 2009, in a small workshop in London, Sipsmith was born. Since then the company has grown massively in popularity and now offers it’s world-renowned hand-crafted gin across the globe. 

As a B-Corp certified company, Sipsmith believes that life shouldn’t stop when employees are at work, and aims to create an environment where people can be at their best. Central to this environment is giving their team tools and support that they need and want, something we spoke to Jessica Simpson, Sipsmith’s People and Culture Manager, about…

“We’re a family unit where people come first, and this means looking after everyone’s wellbeing. I see the value in all types of wellbeing, and believe there’s various pillars to it: mental, social, physical, and financial.”

“I’m very aware of the power of good financial wellbeing. The past year has put a lot of pressure on everyone’s finances and people (rightly) have more questions and concerns than before.”

“We have quite a young generation of employees at Sipsmith with many people in their first jobs. There is a whole education piece that people aren’t aware of. Many don’t know how to save as they’ve not been taught it in school.”

To tackle this, and address their team’s financial literacy, Sipsmith turned to Bippit…

Improving employee engagement

Bippit gives every employee access to a qualified financial expert who they can talk to and get support from. This support – particularly important at a time of increased living costs – helps them feel less anxious, more secure, and more settled in their job.

Jessica adds: “if we can help our staff with their financial wellbeing then they’ll be happier, less stressed, and more productive. With that in mind, when I first saw Bippit I immediately thought that it looked like an ideal solution.”

“Bippit is a great platform for people to go to with questions, and I think it will increase our employee engagement. The financial coaches provide some extra support that staff don’t necessarily have or that we can’t provide ourselves to them on a day-to-day basis.”

“Of course it helps deal with financial worry, but it also encompasses mental wellbeing. The two are strongly linked, and Bippit views everything holistically.”

 

Boosting existing benefits

Companies are always looking for ways to attract and retain staff, and this has become even more important in light of the Great Resignation. Jessica explains…

“In a competitive jobs market we know that having strong benefits in place can make Sipsmith a more attractive employer, and Bippit will help unlock this.”

“The platform is a really good way for us to start financial conversations, and by talking to a financial coach, our staff may want to engage with another benefit we offer that they hadn’t experienced previously. They can think about their pensions and plan for the future, and now have a platform to support them with this.”

“Having your own financial coach that you can get guidance from really is a massive thing. I think our team will use that a lot, but they can also do their own research with Bippit’s tools and resources.”

 

Looking ahead…

Financial wellbeing is a journey, not a one-time fix. It’s why we work so closely with our partners – whether they’re just getting started, or have been using Bippit for many years.

Jessica says: “I’ve been very busy, so knowing that Bippit handles the set-up process – including getting the comms ready to send out – has made my life so much easier.”

“That’s why Bippit is such good value for money. Having looked at the platform and seeing what it could do, I was expecting it to cost a lot more.”

“You really sense that Bippit wants to help you with your company’s financial wellbeing. They won’t just let go of you once the platform has been implemented. They’re there for the long term and will always be there to help.”

Book a free financial session today

Along with the likes of LS Productions and What3words, Sipsmith is one of the many companies benefitting from Bippit’s all-in-one financial wellbeing platform. 

Want to improve your team’s financial health? Book a free Financial Wellbeing Lunch & Learn for your workplace.

 

Ready to explore how Bippit can

support your team?

Empowering the LS Productions’ team to build their own financial support network

Empowering the LS Productions’ team to build their own financial support network

 

Empowering the LS Productions’ team to build their own financial support network

LS Productions is the UK’s largest production service company. They’re a talented group of Grammy-nominated, BRIT and BAFTA award-winning creative producers who work with global brands across commercials, film and TV, music, fashion, and sports campaigns.

Fundamental to the company’s success has been building an inclusive and positive culture. Laura Macpherson, Operations Manager at LS Productions, explains: “culture is a huge part of what we’re all about. We want people to feel comfortable talking about issues, whether it’s in public or one to one.”

“There’s a real thirst for new ideas here, and that extends to procedural improvements and increasing the benefits we can offer our people.” 

It was this thirst that drove Laura to look at financial wellbeing and its effects on mental health in the workplace…

Speaking from personal experience

Each of Bippit’s founders have their own financial scars and war stories. Moments in their life when they didn’t have the support they needed to make good financial decisions. It’s one of the main reasons why they started Bippit: to give every employee access to a 1-1 financial coach so they wouldn’t face similar struggles.

Of course our founders’ financial challenges are not unique, as Laura notes: “I’ve struggled with my finances in the past and I wish I’d had someone to talk to. Some guidance on what I could have done to make my situation better.”

“If there’s a way we can help our people avoid financial anxieties then I’m all for it. So when I came across Bippit it just made a lot of sense. It’s a wonderful thing to be able to introduce.”

LS Productions already has a mental health and wellbeing policy in place, and provides access to therapy to all staff members. Yet, the company constantly reviews its benefits programme to see how they can improve it. Laura explains: “the past two years have been a transition for everyone, and people’s finances have been up in the air. Some people have been on furlough, some have needed to dip into their savings, and others have had to review where they live.”

“My hope is that with all the various benefits we offer, including Bippit, our team will be able to create their own support network.”

 

Making financial support accessible to all

In the past, getting support from financial experts has been expensive, intimidating, or simply not accessible. 

The Bippit app changes this by matching every employee with their own financial coach based on their needs and experience. This is something Laura was particularly keen to give the LS Productions team.

“When I first spoke to Bippit it was almost like talking to a friend. They explained what Bippit was all about and the company’s desire to help people regardless of what salary they’re on.”

“Looking at the Bippit app I was really impressed by the availability of it all, like the fact you can immediately set up an appointment with a financial coach and speak to them quickly. You don’t have to wait for an appointment which would normally take months or weeks.”

“As a company we work quite long hours and all over the country. Bippit gives everyone the ability to immediately get guidance on their phone or at their laptop. Our employees may just want to get something out of their head and remove a worry. Bippit lets them do that and frees up a bit of brain space.”

“A financial coach is there to help each employee sense-check what they’re doing, whether it’s around investing money or setting up an emergency fund. The team is really excited about it.”

 

Using Bippit to unlock other company benefits

Bippit works to improve the financial knowledge of every employee and to get everyone talking more openly about money. This benefits both the employee and the employer, as Laura notes: “it’s all very well putting employee benefits in place, but they’re only worth it if people actually use them.”

“We offer quite a few financial benefits that can help our people make their money stretch a bit further. My hope is that Bippit will signpost our team to the right ones at the right time.”

Laura also expects Bippit to help reduce financial stress. 

“Worrying about your finances at the end of the month can be an underlying part of stress and anxiety. Mental health and financial wellbeing go hand in hand. They’re so integrated in terms of how they can make people feel, which is why Bippit is so powerful. It will help our people worry about one less thing, enjoy their lives a bit more, and figure out what their work/life balance could be.”

Book a free financial session today

Along with the likes of xDesign and what3words, LS Productions is one of the many companies benefitting from Bippit’s all-in-one financial wellbeing platform. 

Want to lower financial stress in your team?  Book a free Financial Wellbeing Lunch & Learn for your workplace.

 

Ready to explore how Bippit can

support your team?