GoCo Group plc Case Study
GoCo Group Plc is the owner of comparison website GoCompare and the UK’s largest auto-switching service, Look After My Bills. They employee around 400 employees in the UK.
What did Better with Money do?
During 2020, GoCo Group Plc decided to boost its health and wellbeing employee care and partnered with Better with Money to provide a series of webinars on personal finance topics to ensure that financial wellbeing is at the forefront of their support.
The financial wellbeing webinars are part of GoCo Group’s Wellness Programme, set up during the COVID-19 pandemic to ensure all employees were fully supported in three aspects – a Healthy Mind, Healthy Body and Healthy Life.
As part of developing the programme, GoCo spoke to staff and found that financial wellbeing awareness and support was of paramount importance to employees. In particular, how to manage and make the most of money, the impact of finances due to COVID-19, and other subjects including home buying, family finances, pensions and debt.
“We have all come to realise how important our health and wellbeing is, more than ever. Whilst this has always been important to our employees, having appropriate and meaningful support during these times is vital. We have worked with Better with Money previously and what’s clear is that they have employee financial wellbeing at the heart of what they do.
Aside from offering the practical support, with all the latest financial information, they were able to offer a bespoke programme that is tailored to business and the needs of our employees. Also, having live workshops means that there is more engagement and opportunities to ask relevant questions.”
Tailoring the Webinars to Their Needs?
Better with Money worked with GoCo Group’s People and Culture and Communications teams to develop a suitable programme of events and suggested hosting the “How to be Better with Money” webinar to kick off the financial wellbeing series. This was held in November 2020 during Talk Money Week and covered the money basics such as budgeting, cutting costs, savings, investments, dealing with debt and financial help available during the pandemic. Better with Money provided a tailored, branded webinar invite link to be sent to all employees and ensured that GoCo Group’s benefits were covered during the webinar to enable employees to make the most of their benefits.
At the end of the first webinar, each attendee was asked to complete a feedback form to confirm which topics they would like to hear more about in future. The results of the survey informed the topic of the second session which is being held in January 2021 “Tackling Debt”.
During the webinar, employees were given the opportunity to ask questions and share their own money saving tips with their peers through the chat facility. Examples of information shared included the use of free food apps such as TooGoodToGo and Olio as well as local shopping discounts.
Resources Available to Employees
All employees who registered for the webinar received a recording of the event within 24 hours of the live session and have access to resources such as budget planners, savings and pension calculators and a money health check for download at the Better with Money Website.
A Feedback survey was launched at the end of the webinar and results were shared with GoCo Group Plc within 24 hours of the session. 100% of those who attended the first session said they had enjoyed the webinar and would recommend it to a colleague. More importantly, 82% said they would take action around their finances as a result of the information they learned.
What Employees Said
The talk was really useful and really interesting, having examples of investing apps and the differences between them was really good.
Really great session! I thought it was very accessible in a way that financial advice doesn’t always seem to be, and I look forward to the rest of the series.
This was really useful, thank you for all the information.
his initiative has been well received by employees and we were really pleased with the high number of employees who registered for the event. Better with Money ensured that the webinar ran smoothly and kept our administrative workload to a minimum. Delivery was excellent and we are looking forward to the continued success of our financial wellbeing programme.