How Bippit helps Wesleyan support their own financial experts
Wesleyan provides financial advice to doctors, dentists and teachers – creating brighter financial futures for the professions we all trust in. The company has been helping people, both customers and employees, secure their financial futures for over 180 years. It’s why Wesleyan recently brought Bippit in to support their staff’s financial wellbeing.
“We are all about you.”
This is the promise Wesleyan makes to its employees. A promise that involves working with employees to help them reach their career goals and find the right work-life balance.
The company knows that feeling valued is key to an individual’s happiness at work, which is why they offer a range of benefits tailored to each individual’s needs. From annual bonuses to discounted insurance policies and access to unlimited GP consultations. Wesleyan is also committed to Smart Working – giving staff greater choice and flexibility in how, when and where they work.
Everything the company does for its employees centres around creating a personalised approach to wellbeing and remaining open to new ideas.
“The key to a successful retention strategy is listening to your employees,” says Hayley Russell, Capability and Wellbeing Manager at Wesleyan. “There is no point putting a strategy in place that doesn’t work for your people.”
Employee feedback is crucial to ensuring we have the right solutions in place at the right time. We seek this via our regular Employee Opinion Surveys, our ED&I Networks and the Partnership Council who share employee concerns and ideas.
Lisa Perkins, Wesleyan’s HR Director, adds: “We were mindful that we needed to do more to support our employees’ financial wellbeing. We thought it was really critical that our people, at a time of need, understood how to manage their budgets and their money.”
“We gathered insights, came up with a plan, and researched a number of financial wellbeing companies. This is when we landed on Bippit.”
“People like that confidential financial support”
Through Bippit, every Wesleyan employee gets one-to-one access to a qualified financial coach. An employee can then speak to their coach as much as they like to deal with any financial issue or stress. This is what attracted Wesleyan to Bippit.
“We liked that Bippit’s financial coaches have FCA-recognised qualifications. We knew we could advertise it to our colleagues and trust what the coaches were saying.”
Lucy Brooks, Head of HR Operations, continues: “Staff have been really pleased with the ease of which they can use the Bippit app. It’s simple. It’s quick. And you can go into as much or as little detail as you want. We know that people like the idea of having a confidential third party who they can get some support and guidance from.”
This is backed up by how Wesleyan staff have been using Bippit.
Emile Rudd, a Relationship Co-ordinator, says: “It was good to hear my coach’s thoughts. Someone who’s licensed in that area. It reassured me that I’m heading in the right direction when it comes to saving for a property.”
Tony Wilkhu, also a Relationship Co-ordinator, adds: “A few months ago I took out a loan. I used Bippit to get some financial coaching to talk through how I could go about doing that or if it was right for me. It’s a good idea to get Bippit.”
That said, it’s not just Bippit’s coaches that are being put to use.
Sarah Pearson, Executive Compensation & Engagement Manager, explains: “There are some really useful calculators on Bippit, so if you want to know how much you need to save into your pension you can just go on a calculator and all that information is there for you.”
Showing employees that the company cares
Wesleyan recognises that there’s no one-size-fits-all approach to employee wellbeing, and they’re always looking for ways to support staff and grow their confidence. This includes getting more people talking about money and any issues they may have.
“People have genuinely really liked the fact that we’ve provided this service,” says Lucy. “Bippit’s created a space for individuals to talk with each other about the importance of financial wellbeing.”
Hayley adds: “We know that users of Bippit see an increase in their confidence in managing their money. People I talk to speak so highly of the Bippit Breakdown emails. They find them really useful because they take terms that you might see in the news, but don’t totally understand, and explain them clearly.”
Beyond the specific features of Bippit, Wesleyan’s approach to financial wellbeing has not gone unnoticed by employees.
“I’ve worked in other places besides Wesleyan and there have been times where some people felt financially inadequate because they didn’t have support,” says Tony. “I’d say Bippit is probably the thing I use most out of the Wesleyan wellbeing package. The fact that Wesleyan is offering this support means a lot to me.”