Give your people a safe space to tackle money stress

Goal-setting and qualified, confidential money coaches

As used by

Financial stress hurts your people, so you invest in financial education

When people are stressed by money, they can’t thrive at work or home. A 2020 report from the Financial Inclusion Alliance found that people who are experiencing money worries are eight times more likely to be experiencing sleepless nights. Investing in financial education isn’t just the right thing to do, it makes good business sense. Considering the impact on happiness and productivity, the stakes are high – so your investment needs to deliver.

But financial education alone is not strong enough to change financial behaviours

To improve financial health, you must change behaviour. But research – such as Fernandes et al (2014) – suggests financial education can’t achieve this alone. As an organisation investing to improve financial health, you need a solution that goes beyond static education to deliver personalised content combined with targeted insight and accountability to drive behavioural change.

Financial coaching uses personalised insight and accountability to change behaviour

Real-time financial coaching does three things that static education can’t – the content is personalised because the coach responds directly to your employee. Secondly, the content is delivered just-in-time, because the conversation is initiated by your employee. Finally, coaching creates accountability for behavioural change, which is made easier with additional in-app prompts.

Your questions, answered

: Real-time coaching does three things that education doesn’t: it is delivered at the point-of-need; it links personalised, targeted insight with tangible and easy tasks to change behaviour; and it creates accountability with coaches who set achievable goals and provide ongoing support for employees to achieve these goals. Because of these differences it is much more likely to change behaviours and improve financial wellbeing.
: No. There is a difference between financial advice and financial coaching. Financial advisors are regulated to provide specific product recommendations. Our financial coaches will not do this – they are independent and provide guidance and support to employees to help them make positive choices and improve their own financial health.
: All of our financial coaches complete rigorous training which has been designed by Cheddr, an industry-leading financial health organisation. The programme is based on best practice from the Money and Pensions Service and ILM’s management training for leaders and managers.
: We take privacy extremely seriously. All conversations are confidential and no details of individual conversations are shared with employers.
: No, there is no limit to how many times your staff can speak to our coaches. Where possible, if an individual returns for a second conversation we will connect individuals with the same coach to ensure continuity.

FLEXIBLE PAY

Live visibility of pay and spending for all of your employees

SAVINGS

Putting money aside towards a goal helps all staff build better financial health

COACH

A certified financial coach for every employee, available 24/7

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It's a nice peaceful way of managing your money, plus loads of advice.

Nick, Wagestream User