In partnership with Octopus MoneyCoach, every person, from trainees to partners, at the 650-strong firm will be able to access this unique benefit.
Nimesh Shah, CEO of the firm that initiated the scheme, said: “Even for accountants, financial management and money can be taboo. Very few quality conversations are had, and I wanted this to change as part of the firm’s commitment to the wellbeing of its staff.”
“Financial anxiety can be one of the main factors to a person’s mental health, and this is likely to be more heightened in recent times with the cost-of-living crisis. We want to establish a strong financial well-being culture and community within Blick Rothenberg so that we are collectively supporting each other.”
He added: “This isn’t only about covering the cost to give everyone their one-on-one coach – it’s also about the time we’re giving them. We want people to use work time, to take an hour with their coach and bring their partner in if they want.”
Neasa McNulty of Octopus MoneyCoach, who worked closely with Blick Rothenberg to establish its financial coaching benefit, said, “In professional services and financial services, there can be an additional level of pressure and guilt surrounding personal finance. Employees often say ‘I feel like I should know this, but…’ There’s not always a safe space to discuss your financial goals and how to reach them.”
She says that in industries where there’s a focus on serving others, there can be a pattern of employees not taking time to look after their own. “You’re busy and don’t feel you have time to go home and create a spreadsheet for your finances. So you don’t give yourself the space to apply what you know to your situation.”
Nimesh said: “I have seen some company benefits and perks suffer from low engagement, but this has been a huge success at Blick Rothenberg. People are talking about how it’s such an easy experience – which is important because if these things are difficult, you shy away from them. Your coach sends an e-mail, you choose a slot in their diary, and then you have a one-on-one meeting in less than a week. When we announced the new benefit, over 65% of employees had a first meeting with their coach.”
Nimesh added: “It’s standing out for our new joiners to Blick Rothenberg. They’re surprised we’re taking great interest in their financial well-being as part of our wider well-being agenda.”