As part of its ongoing commitment to provide essential resources and improve the support available to those experiencing financial worries, Virgin Money – in collaboration with mental health charities Mind and Scottish Action for Mental Health (SAMH) – has launched a bespoke training programme for all of its 4,000 customer-facing colleagues. This will equip them with the skills to support and talk to customers about their money worries and mental health.
The new five-module training programme covers key areas including:
- Understanding mental health
- How to engage in sensitive conversations
- Helpful conversation examples and language to avoid
- Understanding our duty of care and how to raise a welfare concern
- Managing your own wellbeing
Financial worries front of mind
This initiative comes at a time when research reveals four out of five UK adults (80%) feel more worried about their finances now that they did five years ago.
The research commissioned by Virgin Money shows that financial pressures are impacting people’s mental health, with over half (52%) of adults reporting feelings of anxiety, 45% experiencing stress, and 27% feeling depressed due to money worries. Household bills and the rising costs of everyday essentials are driving this heightened anxiety, and 66% of adults worry that the cost of living will rise again, while 57% fear that essential household items and paying bills will become unaffordable in the future if prices continue to increase.
Supporting the wider community
Syreeta Brown, group chief people and communications officer at Virgin Money, said: “We understand the impact financial worries can have on mental health, which is why it’s important for us to ensure our colleagues can offer the best possible support to any of our customers facing these challenges.
“The new training programme we have developed in collaboration with Mind and SAMH equips our frontline colleagues with the essential skills and knowledge they need to support our customers during difficult times. By encouraging open conversations and offering practical support, we aim to make a real difference in the lives of those who are struggling with their mental health.”
Financial pressures can significantly impact mental health and with the ongoing cost-of-living crisis, these pressures are only increasing. This programme is a great example of a corporate looking at what it can to support the communities it serves, as well as its own employees. Other corporates leading in their approach to supporting the health and wellbeing of their wider community include Jaguar Land Rover and the Co-op to name just two.
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