How Beam is using financial wellbeing to attract the best talent

How Beam is using financial wellbeing to attract the best talent

 

How Beam is using financial wellbeing to attract the best talent

Beam is the world’s first crowdfunding platform for homeless people.

In recent years the company has been recognised by The FT as one of the most innovative organisations in Europe, and by The Guardian as one of the most important social innovations.

Beam’s members often become homeless because of their financial situation, so the team has to deal with a number of different financial issues and anxieties (both in their own lives and the lives of those they work with).

To help support them, Elise Bresler (Beam’s Senior People & Talent Manager) wanted to look at how a financial wellbeing platform could benefit Beam…

“The finance world has created its own language for things. Many don’t know what it all means, or how to use financial products, so they get trapped in difficult situations. Although we work in the tech world, Beam is a social cause and we’re not surrounded by finance talk, so it’s a struggle.”

“A number of our team were starting to look at mortgages and I’ve heard comments like I’m bad with money which is hardly surprising as no one really shows you how to manage your finances.”

“As a company we want our people to feel at ease in both their personal and professional lives. Everyone has a learning and development budget (normally £500 a year) but few are aware of the value of applying that to understanding more about financial topics.”

One financial wellbeing platform that works for all

88% of employees say they want support from an impartial financial expert, and through Bippit’s platform, every employee gets one-to-one access to a qualified financial coach.

A coach who adheres to the highest standards of conduct and ethics, and who has many years of training and experience. An employee can then speak to their coach as much as they like to deal with any financial issues and stress.

“When I first heard about Bippit I thought it was an incredible idea,” explains Elise. “Its expert coaching hooked me because it’s exactly what our team needs.”

“We’ve got all sorts of different people here who are looking for different things. Some are younger and just out of university. They need help understanding how to manage their finances. While some are older and want to start saving for mortgages.”

“When it comes to financial knowledge, there’s a big disparity between senior and junior people in the tech startup world and we want to try and close that gap. What’s great is that we can roll Bippit out to everyone.”

 

 

Creating happier and more settled employees

Employees are twice as likely to leave when they’re anxious about their finances.

Bippit deals with this stress, leaving employees feeling happier and more settled in their job. This is crucial given the winds of change that are present in the jobs market.

Elise adds: “Bippit makes us far more progressive and people have already mentioned how happy the platform’s made them.”

“We’re providing a variety of benefits but I think Bippit will separate us from other companies.”

“Not everyone is providing financial wellbeing yet – so Bippit’s platform will help us attract the very best candidates. People are really drawn to it in the benefits section of our job specs. It really grabs people’s attention.”

 

Saving time spent dealing with financial questions

Bippit’s professional coaches can deal with a range of employee queries, giving support on areas such as pension schemes, equity plans, taxation, and insurance cover. This frees up a company’s time so they can focus on the big picture rather than trying to be an expert in all financial matters.

“We get a lot of questions about pensions. From understanding them, to knowing how to put them all into one pot. With Bippit, everyone now has their own personal coach who can guide them through things like this.”

“In the Analyze section you can also categorise what you’re spending your money on. I know apps like Monzo do that but it’s on a superficial level. Bippit really dives deep into how to link your spending to your goals and does a lot of the work for you, so it’s a far more tailored experience.”

Giving everyone access to financial wellbeing

Beam initially tested Bippit with a handful of employees but they’re now rolling it out to the whole company. “So far everyone seems to be loving it,” says Elise.

“The articles and resources are super useful as they break down complex info into really digestible chunks. The platform explains jargon in layman’s terms and does a great job in making financial wellbeing accessible to everyone.”

Book a free financial wellbeing session today

Along with the likes of Sipsmith and What3words, Beam 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?

Helping HelloFresh deliver a comprehensive benefits package

Helping HelloFresh deliver a comprehensive benefits package

 

Helping HelloFresh deliver a comprehensive benefits package

In Q3 last year, HelloFresh delivered 227 million meals and reached nearly 7 million customers around the world.

The company is a global market leader, that prides itself on its ‘local startup vibe’, and they’ve created a culture for over 17,000 employees which values an entrepreneurial spirit and ownership mentality.

Central to this culture is the desire to look after their people, and give them the support they need to thrive at work and in life. Monica Glover, HelloFresh’s HR Executive, explains…

“We want our team to enjoy working at HelloFresh and feel like it’s a great company to be at. We’re always looking for ways to build up a good rapport with our employees so they can see we genuinely care about them. Giving them the best benefits is key to this.”

Why HelloFresh turned to financial wellbeing

Money worries can affect both our mental and physical health, which in turn can affect our performance at work. It’s why many companies, including HelloFresh, are reviewing their wellbeing strategy.

“When we looked at our benefits we identified a gap in financial wellbeing,” says Monica. “It’s something we think is really important for businesses to offer, and in our case it’s even more vital given the demographics of our team.”

“Many of our team are in their mid to late 20’s, and that’s an age when you encounter things like credit cards, loans, mortgages, and pensions for the first time. It can be overwhelming as you’re not taught about those things at school, and it means that very few of us are actually comfortable with these financial matters.”

“We wanted to give our team access to a service that gave them expert financial support on all of the above. As a business, looking after our people in this way is just common sense.”

 

Helping HelloFresh unlock financial support

Bippit gives every employee access to 1:1 support from a qualified financial expert. This is delivered through an intuitive and straightforward platform, something that Monica was particularly keen on…

“When we started looking at financial wellbeing tools, I really appreciated the friendliness of the Bippit team. They gave us a great tour around the platform which is easy to use, modern, and visually very impressive. Everything was so clear on how things work and the pricing.”

“It’s great that you can have video calls with a financial coach who’s professionally qualified. You’re speaking to an expert, not to a random person who says they can help you, but actually doesn’t know what they’re talking about.”

“Getting started was also really simple with tools like Bippit’s financial health check. It identifies the financial areas you can work on, and prompts you to speak to your financial coach about them. I really liked that!”

 

The importance of tailored and comprehensive support

Each of Bippit’s co-founders went through different financial issues before they started the company. It’s why they wanted to build a platform that catered to everyone – regardless of their age, background, or situation.

Doing this means that companies only need one solution for financial wellbeing, not several, and they also don’t need to pay for different experts to come in and talk about different areas.

Monica adds: “Our employees are at various stages of their financial journey, yet Bippit caters to all of them. I’m personally going to use it to get support on ISAs and how to save for a house. But someone else might use it to learn more about credit cards and how they can build their credit history.”

“The level of financial support that Bippit gives our team is not something every employer is offering right now, and I think that really sets us apart.”

“Bippit will definitely help us reduce stress and create a happier and healthier workforce.”

Book a free financial wellbeing session today

Along with the likes of Sipsmith and What3words, HelloFresh 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?

How Blurred is building best-in-class benefits with Bippit

How Blurred is building best-in-class benefits with Bippit

 

How Blurred is building best-in-class benefits with Bippit

Blurred is a leading global strategic and creative advisory firm. They work with FTSE 100 companies, Fortune 500 multinational organisations, and the world’s leading brands to help them understand their purpose, impact (both environmentally and socially) and in terms of governance.

The company has a number of forward-thinking practices in place. Whether that’s partnering with companies who are actively working towards the UN’s Sustainable Development Goals, or publically committing to reporting diversity and carbon targets.

Blurred’s passion for the planet and people shines through in their work, and is one of the reasons why they’re B Corp certified. They also have a range of initiatives in place to ensure their employees have the support they need to grow. Rachel Minty, Blurred’s Managing Director, explains…

“Coaching is at the heart of our employee proposition.”

“We offer everyone ongoing access to an executive coach, something lots of people take up on a biweekly or monthly basis, and it’s central to our ethos of betterment.”

“We find that it’s a really great way for people to arm themselves with the tools they need for their own development, and it gives them a forum in which they can focus on their career development on an ongoing basis.”

The financial effects of the pandemic and cost of living increases

The number of people in the UK with ‘low financial resilience’ grew by a third post-pandemic, and with living costs set to rise in the coming months, it was important for Rachel that Blurred found new ways to support their staff.

“We get overwhelmingly positive feedback on the coaching we offer, and so when I saw Bippit’s financial coaching service it immediately piqued my interest. Financial coaching isn’t something we’ve done before, but Bippit really resonated with me, especially in the context of rising living costs.”

 

Creating a tailor-made benefits package

The Bippit platform offers something for everyone, no matter their age, background, or situation. Every employee has access to a personalised plan and all the tools they need to build a more secure future.

This is something that appealed to Rachel: “Our team is made up of a range of ages and life stages. The Bippit platform gives each of them support, regardless of their level of knowledge.”

“It’s easy to understand, and you can engage with it on a number of different levels, whether through 1-1 coaching or leveraging the open banking tools to analyse your spending.”

“Bippit felt like a natural extension to the benefits we offer, as we don’t believe that one set package fits everyone, and want to make sure that we have a broad range for people to choose from based on what they need at that moment and where they’re at in life.”

“We’re adopting Bippit to further ensure our team has an outstanding package of benefits.”

 

Book a free financial session today

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

Looking 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?