Virgin Money trains its employees for the well-being of customers

Virgin Money has just presented a new in-house training initiative for its employees. This training should in particular help them acquire knowledge and good practices to better support end-customers. The particular feature of this programme is that it takes into account both the financial and psychological aspects of well-being.

FACTS

• Virgin Money has just presented its brand new training program for bank employees. This program aims to support the financial and mental well-being of end clients.

• 4000 employees of the bank, customer relationship managers or in charge of customer contact, are involved in this training.

• The proposed program must help them develop the skills necessary to support fragile clients, whether on financial or mental health issues. Five modules were developed for:
  • understanding mental health,
  • having a conversation on this sensitive subject,
  • understand his duties on the matter,
  • managing your own well-being,
  • present typical conversations and language to avoid.

• To develop its program, Virgin Money relies on a collaboration signed with local mental health charities, Mind and SAMH (Scottish Action for Mental Health).

ISSUES

• Addressing a social problem: To justify the relevance of its new positioning, Virgin Money highlights the results of a study conducted last August by the OnPoll survey institute. It revealed that 80% of the British felt more worried about their finances than they had five years earlier, highlighting the link between well-being, mental health and financial health. 52% of adults surveyed even reported having anxiety, 45% felt stress and 25% were depressed because of their financial problems.

• Defend global positioning : The deployment of this training is part of a broader Virgin Money strategy to support the well-being and mental health of its employees and clients. The British bank also organized a special event in Glasgow's local centre involving its charitable partners Samh to offer training sessions, activities and focus groups on stress and a working session to promote positive behavioural change.

• Humanize : Virgin Money's main objective here is to defend a humanized approach to the bank. Beyond the financial sector alone, Virgin Money wants to position itself as a partner in the broader well-being of its clients, thus promoting a benevolent extra-financial positioning.

PERSPECTIVE

• The subject of mental health and well-being has so far been primarily defended by insurers, who included the issue in some of their offers. Alan, In France, for example, it has been doing this for several years.

• This type of positioning then spread more widely, mobilizing in particular the French insurance company Solly Azar, who chose, for example, to look after the mental health of his collaborators in June 2024. The question is no longer a taboo and it is subsequently Axa that put to present a new tool called Mind Health Self-check, to raise awareness of mental health issues among the greatest number.

• Apart from the insurance sector alone, therefore, it is also in the United States that example Before Virgin Money demonstrated the interest of the bank's players in positioning themselves on this issue.

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