- More than a quarter (25%) of UK-based Simmons & Simmons employees have signed up to try the Octopus Financial Planning service.
- A new partnership will assist employees in navigating life milestones such as buying a house or retiring.
Octopus Money is a money advice brand that offers money planning and coaching to employees of the leading international law firm Simmons & Simmons.
The initiative was well received, with more than 25% of the company’s 1,000 UK employees booking a time slot with a financial expert in the first two months. And 41% of those who were eligible signed up for the full service, a testament to how important it is to have a healthy financial life at work.
Money is the primary source of stress among employees. 66% believe that their employer does not care about personal finances. The new year, combined with recent political changes, such as the increase in energy caps, has brought fresh concerns. Many are now navigating major life milestones, like buying a house, starting a family or planning for retirement.
Octopus Money, a money coaching service, has partnered up with Simmons & Simmons to provide employees with one-on-one financial coaching to help them achieve their goals, reduce stress and empower informed decisions.
Caroline Turner Inskip, Partner & Global Wellbeing Head at Simmons & Simmons said:
We understand that financial strain can be especially prevalent during this time of the year. This stress affects the ability of employees to be productive and present at work. Octopus Money’s partnership with us has enabled us to offer meaningful support to our employees at a critical time.
Financial wellbeing initiatives have become a differentiator for the legal industry as the competition to attract top talent increases. Simmons & Simmons is leading the way. Octopus Money, which supports over 200,000 UK employees, has already been partnered by other firms including Browne Jacobson, Fieldfisher and others.
Anasuya Iyer, Chief Commercial Officer at Octopus Money, said:
We hear regularly from professionals across a range of sectors, including law and financial services, who are extremely organized in advising the futures of their clients, but have forgotten to think about their own. We’re demonstrating, by partnering with Simmons & Simmons that law firms can make a difference to their teams. This early adoption speaks volumes about how important this type of support .” is.
Already, the impact of this service can be felt.
An employee of Simmons & Simmons wrote:
“I was not sure what to expect as I had never received financial coaching. “[My coach] made me feel at ease. He was clear about what we would be covering, provided me with plenty of input opportunities, and gave me a simple summary of how Octopus can help me moving forward .”
The first appearance of the post Financial wellbeing as a resolution for 2025 was on Human Resources News.
