Inspired Launches Financial February
Who we are
Inspired Outsourcing is an award-winning contact centre located in the heart of Newcastle city centre. Inspired began their Better Health At Work journey in 2016 and after achieving a pass+ Gold Award in 2019, is currently working towards their Continuing Excellence accreditation.
Mind mental health charity states “money and mental health are often linked. Poor mental health can make managing money harder and worry about money can make your mental health worse.” We are focusing on mental health throughout 2020 to educate and support our colleagues in all aspects of improving their mental well-being, with a specific focus on Financial Health in February. Inspired have also teamed up with Moneywise credit union to inform and offer attainable saving and lending solutions to our workforce.
61% of 25 to 34 year olds are less confident about managing their money.
This resonated with Inspired, as over 80% of our employees are under thirty-four years of age. Working full time and receiving a monthly salary can present budgeting challenges for a young workforce. Our workforce core demographic is also at a higher risk of resorting to payday loans which can lead to spiralling interest and unaffordable repayments.
What we did
Throughout February, Inspired asked their employees what areas of money management would be useful to explore. The most popular topics were saving solutions and debt consolidation. We shared saving tips, debt myth-busting advice and started discussions about payday loans throughout the month. The workforce engaged with these topics via our intranet and began having financial conversations with each other and HR.