When your business thrives on attracting and retaining talent, financial coaching can be the ace up an employer’s sleeve. Thomas Hiles, UK head of benefits at BNP Paribas, and his leadership colleagues, extol the value of a holistic service that helps people achieve personal financial goals, keeps money worries at bay, and enables employees to make better use of employee benefits.
European bank BNP Paribas has introduced a new financial coaching service for its 8,000 UK staff in partnership with provider Octopus Money.
The employer said the coaching service is part of its benefits enhancement strategy to retain and attract talent and support the wellbeing of employees and their families.
Thomas Hiles, UK head of benefits at BNP Paribas, told Benefits Expert that all UK employees now have access to this financial coaching service through Octopus Money.
“Once an employee registers their interest, they’re matched with a dedicated, expert money coach for a one-to-one online session. This first conversation is about understanding their current financial position and what they’d like to achieve – whether that’s buying a first home, consolidating pensions, or saving for their children’s future.”
Following that, employees receive a personalised financial plan, which they can access online through the provider’s portal.
Hiles said the personalised plan brings employees’ future goals to life in a visual timeline and highlights areas they might not have considered.
“The coaches then work with employees to help put these plans into action, whether that’s setting up an ISA, tracking down old pensions, or creating a will. And to keep people on track, follow-up check-ins are offered to review progress and adjust plans as life changes. It’s a genuinely holistic service designed to support every stage of an employee’s financial life.”
Finance sector workers may be expected to navigate complex financial matters in their day jobs, but many have busy lives and workloads, which can make it difficult to find the headspace to manage their own finances.
Ruth Handcock, CEO of Octopus Money, said: “There’s a perception that people in banking have their finances sorted, but that’s not always true. From junior analysts to senior directors, many employees feel stuck juggling short-term needs with long-term goals. Our coaching gives them personalised, practical support to feel confident and in control.”
In addition, the bank’s decision to boost its benefits offer with financial coaching comes as financial sector employers face intense competition for talent from others in the sector and from technology firms. A benefit that supports people’s financial wellbeing in today’s uncertain world can be a differentiator when poachers come calling.
Further studies have shown that most UK adults worry that they will not have enough money in their pension to enjoy a comfortable retirement.
This matches with data collected from surveyed BNP Paribas employees. Ninety percent said they were either “unsure” or “not on track” for reaching their retirement goals, while 72 percent cited retirement planning as a key reason for seeking financial coaching (2025 sample survey of 277 BNPP employees signed up to Octopus Money).
Hiles recognises that a benefit like this only makes an impact if people are aware of it and feel encouraged to use it, which means communication has been key.
“We’ve delivered a multi-channel launch campaign, including segmented email campaigns and internal newsletters, onsite attendance from Octopus Money at our annual benefits fair as well as tailored webinars led by their coaches to demystify what financial coaching involves.”
Early uptake of the service has been strong, he said, with a high number of employees booking introductory sessions and many progressing to full financial plans.
“The qualitative feedback has been equally positive. One employee told us: ‘My coach came prepared so was able to ask the relevant questions and direct me accordingly. The conversation helped me clarify some things in my mind.’ It’s those kinds of moments that make a meaningful difference to people’s wellbeing.”
He said that moving forward, the employer will be measuring success through a combination of quantitative and qualitative metrics, including uptake rates, ongoing engagement, employee feedback, and qualitative wellbeing indicators from BNP Paribas’s wider wellbeing programme.
“Ultimately, it’s about whether our people feel better supported, more financially confident, and less stressed,” he added.
In terms of integrating the financial coaching service with existing employee benefits, Hiles said financial wellbeing is a crucial part of the overall employee experience.
“Financial stress can have a real knock-on effect on mental health, productivity, and personal relationships – so offering a service that helps address this holistically was important to us.
“We deliberately sought a service that didn’t just focus on pensions and investments but could support every aspect of someone’s financial life: from budgeting and saving for a holiday to buying a home, navigating parental leave, and preparing for retirement. It complements our existing pension and savings plans by helping employees make better use of those benefits, and it aligns with our mental health and wellbeing initiatives by helping to ease financial anxiety.
“The early insights we’ve received correlate with other metrics we receive from our pension scheme and benefits surveys and allows us to tailor our communications around wellbeing, and specifically mental health, but also around our pension scheme and other financial education programmes.”
Asked whether this kind of financial wellbeing programme could help close gender and generational gaps in financial confidence and outcomes, Hiles says he recognises the issue.
“Money gaps for women sadly still exist. For example, they must work 19 years longer than men to receive the same amount of pension money on retirement. We have seen significant uptake from women at BNPP so far, showing the need for this type of service. Also younger employees; 22 percent of those accessing coaching were under 30, and 36 percent were aged 30-50.
“I believe that education is a critical first step. Through access to a human coach that they can talk to, women will be empowered to take more of the financial steps they need to – and earlier on – to help address these gaps and achieve their money goals.”
He added: “Don’t underestimate the value of financial coaching as a preventive, proactive tool. It’s not just about crisis moments – it’s about empowering people to feel confident and supported throughout their financial lives. And the early feedback and engagement rates we’ve seen suggest it’s something employees are truly valuing.”
Katalin Eross, UK head of human resources at BNP Paribas, commented: “The way we think about employee benefits is evolving. Employees expect more than just a salary – they want support that makes a real difference to their lives and financial coaching helps to do just that. It is a personalised service which helps staff to get on top of their money: better manage financial stress, money anxiety and focus on what really matters.
“We wanted something that was not just pension and investment focused, nor IFA-driven, but that supports everything from getting on the housing ladder, starting and supporting a family, budgeting, to targeted savings goals in a way that also integrates with the full suite of our employee benefits. We’ve already seen how much employees value it, and I think this type of initiative is going to become the norm in the workplace.”
Emmanuelle Bury, UK country head at BNP Paribas, said: “True wellbeing isn’t a perk – it’s a necessity, and financial health is a crucial part of that. This partnership with Octopus Money reflects our commitment to supporting our people not just as employees, but as individuals with lives, families, ambitions and futures outside of work. I’m particularly proud of the way this service resonates with women in our business, who too often shoulder the invisible burden of family finances. It’s one more step in creating a culture where everyone has the tools and headspace to thrive.”
