European bank BNP Paribas has introduced a financial coaching service for its 8,000 UK employees as part of its commitment to financial wellbeing
It will offer the coaching, which is provided by Octopus Money, to its entire UK workforce, who will be able to access personalised financial support in the form of holistic, regulated financial planning.
After identifying that 72% of employees cited retirement savings as their top financial priority while 37% said homeownership, BNP Paribas wanted to implement a financial coaching programme to provide clear, actionable steps to help them achieve their goals.
The initiative is part of its strategy to further enhance its benefits package, retain and attract talent, and support employees and their families’ wellbeing.
Katalin Eross, UK head of human resources at BNP Paribas, said: “The way we think about employee benefits is evolving. Employees expect more than just a salary, they want support that makes a real difference to their lives and financial coaching helps to do just that. It is a personalised service which helps staff to get on top of their money: better manage financial stress, money anxiety and focus on what really matters.
“We wanted something that was not just pension and investment-focused, nor IFA-driven, but that supports everything from getting on the housing ladder, starting and supporting a family, budgeting, to targeted savings goals in a way that also integrates with the full suite of our employee benefits.”
Emmanuelle Bury, UK country head at BNP Paribas, added: “True wellbeing isn’t a perk, it’s a necessity, and financial health is a crucial part of that. This partnership with Octopus Money reflects our commitment to supporting our people not just as employees, but as individuals with lives, families, ambitions and futures outside of work. I’m particularly proud of the way this service resonates with women in our business, who too often shoulder the invisible burden of family finances. It’s one more step in creating a culture where everyone has the tools and headspace to thrive.”
