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