Employees at benefits provider Unum UK will be offered financial coaching via the Bippit platform to help them establish healthy financial habits, including life-stage planning.
The employer decided to bring in the benefit for staff after an employee wellbeing survey picked up opportunities to enhance financial wellbeing. More than a quarter of workers (28 percent) mentioned that they’d like to improve their overall savings situation.
Jane Hulme, HR director at Unum, said: “We believe in creating a supportive and inclusive environment where curiosity and ambition thrive. The introduction of Bippit follows a recent employee survey, which highlighted the importance of financial wellbeing to staff across all levels.”
She added: “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.”
She said that for most people, salary alone is not enough to prevent money worries. This is why it’s critical to create a comprehensive wellbeing package that has financial wellbeing and support at its core, she added.
“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 want to address that with 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.”
