Experian, the UK’s leading credit reporting company, is known for looking after the financial health of millions across the UK. But they’re also experts when it comes to the health and wellbeing of their onw employees. And they have the awards to prove it!

They’re ranked on the UK’s Best Workplaces™ for Wellbeing (2022), a Top 30 Employer for Working Families (2022), they’ve been awarded The Best Financial Wellbeing Strategy (2021) and many, many more.

Finding the Right Solution

So how does a financial services business tackle employee financial wellbeing? Experian knew their staff are financially savvy as professionals, but they wanted to ensure they had access to the same level of expertise for their personal finances.

Gabby Wickes, Wellbeing Lead at Experian, says she immediately connected with the ethos of Octopus Money ethos. “Our focus is about helping customers become financially literate, enabling them to build a better financial future. It’s important that we do all we can to support our employees in achieving this too.”

It was the highly personalised and holistic nature of Octopus’s approach that most stood out to Gabby’s team. “Since the beginning of our partnership with Octopus, we’ve loved the 1-to-1 nature of their holistic coaching, and breadth of the guidance, covering all aspects of our employees’ full financial situation.”

At Experian, all employees get matched with a money coach, with the option to book a free 30-45 minute session. Employees that want to work with their coach and create a personal money plan can pay for the full service through salary sacrifice – which allows them to pass on a significant saving that employees couldn’t get otherwise.

It’s rare to find a financial wellbeing solution that offers both planning technology and the meaningful support you get from building a relationship with a real person. Alexandra Kosylo, Learning Consultant & Talent Analyst, says, “The combination of a human coach and – for those who want it – the planning technology, perfectly addresses both the emotional and rational side of financial planning.”

“We’ve loved the 1-to-1 nature of their holistic coaching and breadth of the guidance, covering all aspects of our employees’ full financial situation.”

The Impact

The launch of Octopus Money at Experian was a big success – with 673 (20%) of Experian’s 3,287 UK employees meeting with their coach. In a world, where engagement with financial benefits is often in the low single digits, the uptake proved there was demand for this personalised support. And the reviews from employees showed the real impact. Experian employees rate their experience with Octopus Money 4.8 out of 5 stars. And one employee commented, “My coach, Sarah’s energy and enthusiasm for coaching, plus her accessible approach to what can be a very fraught subject, really helped put me at ease and even excited me about the possibilities that could be unlocked with a sound financial plan.”

At Experian, the tangible financial impact was even more impressive. The employees who chose to use the full service through salary sacrifice, improved their household’s financial situation by £9,692 on average. This was through a combination of employee pension contributions increasing by 0.6%, savings increasing by 4.5% and investments increasing by 11%.

Alexandra says, “These are difficult times. With Octopus Money, we feel confident that every employee has access to personalised 1-to-1 support and guidance on precisely the right financial actions for them as the process is tailored to each employee’s situation, so they can plan for retirement as well as other goals like property, family or just enjoying life.”

“The real magic of Octopus is the peace of mind it gives – for us, and our employees.” 

Octopus Money Limited is an appointed representative of Octopus Investments Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Registered office: 33 Holborn, London EC1N 2HT. Registered in England & Wales under No. 14069098.

Octopus Money is a trading name of TW11 Wealth Management Limited. Registered in England and Wales (No. 10339119). Authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 763630.

As with all investing, your capital is at risk. If you choose to invest with Octopus Money, the value of your investments can go down as well as up and you may get back less than you invest.