Unum is a specialist employee benefits provider striving to create healthy, happy workplaces - starting with their own.

As a Fortune 500 company and a certified ‘Great Place to Work’ in 2024, Unum is on a mission to help the working world thrive. This commitment begins with their own team, which is why Unum UK continually invites employee feedback to shape a comprehensive benefits package that supports every aspect of a person’s wellbeing.

In their latest feedback survey, more than a quarter of employees highlighted a desire to improve their savings. This insight led the company to explore ways they could enhance financial wellbeing across the organisation…

Financial wellbeing: a missing piece in employee support

“We believe in creating a supportive and inclusive environment where curiosity and ambition thrive,” explains Jane Hulme, HR Director at Unum UK.

“For most, a salary alone is not enough to prevent money worries - which is why it’s critical to create a wellbeing package that places financial support at its core.”

Financial concerns are the leading cause of workplace stress and a major driver of employee turnover. Recognising this, Unum sought a solution that would offer meaningful, expert-led financial guidance.

Jane adds: “Studies show that financial wellbeing is often unintentionally overlooked as a low priority in employee benefits packages, despite it being an area of concern for the majority of employees. There’s a disconnect here, and we need to address that.”

Expert-led guidance, available to all

Jane continues: “We wanted to introduce a benefit that helps our employees manage their finances effectively both now and in the future, so they are better prepared for long-term financial security. This is why we partnered with Bippit.”

With Bippit, every Unum UK employee will be matched to a dedicated financial coach with FCA-recognised qualifications. Whether an employee needs help with budgeting, long-term planning, or navigating major life events, they can receive free and tailored support from their coach via unlimited messaging and video calls.

The positive impact of this financial coaching goes beyond just individual benefits though. 

Employees using Bippit are 40% more likely to increase their pension contributions. While this can improve their financial future, it also helps the business save money by reducing employer National Insurance contributions.

Breaking the stigma around financial wellbeing

Financial coaching has often been seen as a luxury, available only to those with significant wealth. Unum UK wanted to change this by ensuring that all employees, regardless of background, had access to expert financial support. 

As Jane explains: “Given the UK’s current economic climate, concerns around money will be affecting all employees, regardless of age or seniority. Many people are uncomfortable talking about finances, but it’s time to break the taboo.”

Bippit is free at the point of use so overcomes these barriers around stigma and access. We believe that everyone should be able to speak to a financial expert, and are delighted that Unum’s UK employees now have this ability.