Money is a stressful topic for many people and can significantly impact their personal and professional lives.
Unipart recognises that personal finance is still very much a taboo subject. We are working hard to improve that by promoting good financial health as a vital aspect of our overall wellbeing.
Financial education is therefore a crucial cornerstone for improving financial wellbeing.
Working with partners such as our employee assistance provider TELUS Health, Salary Finance, and our insurers, we provide access to services that our colleagues use to learn but more importantly inspire them to take action.
Unipart’s active support of annual campaigns such as Financial Wellbeing Month (co-ordinated by FinWELL, MHFA England & R;pple Suicide prevention) reinforces our intention to drive awareness and provide access to relevant material to support our colleagues to take action.
The aim is to meet our people where they are, enabling them to consume the content they need at a time and in a way that suits them, whether this is understanding their payslip, pensions, retirement, buying a new house, or savings.
As a trusted source of information to our teams, the education also extends to the ongoing work our IT security team do to highlight the latest scams and phishing attempts. This protects our people from fraudsters and keeps them safe online.
Unipart’s employee assistance provider, Telus Health, provides a free online tool for assessing the overall health of an individual’s financial wellbeing. By giving colleagues a better understanding of their finances, we empower them to understand and prioritise what their financial goals are.
Using this tool provides an in-depth understanding and suggests appropriate content to read or actions to take to manage any emotions they may also be experiencing.
Unipart’s financial wellbeing partner, Salary Finance, provides a free budget planner. This enables all colleagues to have better understanding and control of their finances.
Why do we think this important? Research by the Yorkshire Building Society indicates that the proportion of UK adults unable to save monthly doubled from 12% in 2019 to 22% in 2023. Additionally, 24% often run out of money before payday, and 21% could sustain themselves for less than a month if they lost their income.
Unipart’s employee assistance provider, Telus Health, also gives colleagues access to hundreds of high street discounts.
On top of this, Unipart also provides its own employee offers ranging from consumer goods to discounts on hotel and attraction tickets.
A key intervention within Unipart’s approach to improving connection within the workplace is our team of Mental Health First Aiders. Trained as listening volunteers, our team of compassionate colleagues provide immediate support and signposting for anyone experiencing emotional distress.
