Virgin Money has launched a bespoke training programme for all its 4,000 customer-facing colleagues to equip them with the skills to support and talk to customers about their money worries and mental health, as research 1reveals four out of five Brits (80%) feel more worried about their finances now than they did five years ago.
This initiative is part of Virgin Money’s ongoing commitment to provide essential resources and improve the support available to those experiencing financial worries, in collaboration with leading mental health charities, Mind and SAMH (Scottish Action for 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
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.
To coincide with the launch of the new training programme, Virgin Money has hosted a workplace wellbeing event at their Bothwell Street office in Glasgow in collaboration with SAMH, focused on helping colleagues to think about supporting customers in the relationship between money and mental health, as well as their own wellbeing.
The event featured bespoke bite-sized training sessions, a move and talk activity while exploring the impact of stress, and a session on changing unhelpful thinking behaviours. The event also included SAMH’s Wellbeing on Wheels bus, offering consultations with their team, and support from Virgin Money’s Health, Safety, and Wellbeing team. Finally, colleagues had the opportunity to exchange best-practice wellbeing tips with peers from across the bank.
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."
Hazel McIlwraith, director of fundraising and major appeal at SAMH, said: "There's no question that money worries impact mental wellbeing, and it's so important that our financial institutions play their part in looking after their customers. That's why we're thrilled to be working in partnership with Virgin Money and Mind to help give the colleagues who work directly with customers the skills and confidence they need to be able to provide the best possible support to anyone who might be anxious about their financial situation.
“The recent wellbeing event at Virgin Money's Bothwell Street office in Glasgow is a testament to everyone’s commitment to this cause, bringing together colleagues to focus on how they can best support customers."
Andrew Berrie, head of corporate partnerships at Mind, said: “We are delighted about the launch of the new training programme in collaboration with Virgin Money and SAMH. It’s crucial that Virgin Money’s customer-facing employees have the skills and knowledge to support customers experiencing financial worries.
“Financial pressures can significantly impact mental health and with the ongoing cost-of-living crisis, these pressures are only increasing. This programme will ensure vital support is available to customers, making a real difference for those struggling with their mental health.”
1About the research
Research carried out with 2,000 UK adults by OnePoll in August 2024