Equifax put financial wellbeing at the top of the agenda to help with cost-of-living crisisDownload
Industry: Financial Services
No. of Employees (UK and Ireland): 900
Equifax has a clear strategy around colleague wellbeing: their purpose is to ‘help people live their financial best’. They strive to create economically healthy individuals and communities everywhere they do business.
The team wanted to elevate their colleague experience and increase communications on financial wellbeing, driving engagement through themed campaigns and awareness sessions.
Their main priority being to educate colleagues on personal finance, and support their people and their families through the cost-of-living crisis.
Equifax launched nudge’s impartial financial education platform to support their people’s financial wellbeing and increase awareness of their wider wellbeing programs through personalised, timely communications (nudges).
This includes using Equifax’s intranet, wellbeing hub and wellbeing chatroom channels. Equifax uses the nudge community hub of resources to ensure that communications align with their key wellbeing campaigns such as debt awareness week, mental health awareness week, talk money week and carers week. These events are also supported with custom masterclasses.
Equifax embraced nudge’s ‘Journey to Finpowerment’ campaign to align with Mental Health Awareness month and empower employees to foster better money habits, build resilience and take control of their money. This included the launch of nudge’s financial health check-up that helps employees assess their level of financial wellbeing and an exclusive Equifax masterclass.
To further support their people through the cost-of-living crisis, Equifax issued a nudge to employees promoting their relevant employee benefits. This nudge promoted fuel and travel discounts, along with gift cards and cashback options, directing employees to specific savings on their retail discounts platform.
nudge also ran stakeholder sessions for managers, to help these leaders and influencers with the practical financial knowledge and skills to prevent poor financial wellbeing and support the financial health of their people. The session explored the value of impartial financial education, why financial education is at the heart of employee benefits and signposted the support available on nudge to empower people to take control of their finances.
overall engagement and 66% of employees interacted with the platform
of employees engaged within the last 3 months.
engagement with the nudge promoting the cost-of-living support available.
The nudge platform is an incredibly powerful financial education tool. At Equifax, helping people live their financial best is at the heart of everything we do. The information nudge provides support and enhances our colleagues' financial wellbeing. With the cost-of-living crisis, it's important now more than ever to give our colleagues access to financial resources. The masterclasses' nudge run cover a number of different topics and have really engaged our colleagues to think about their own financial situations.
Engagement & Channels Manager, Equifax UK