Providing a Helping Hand
Most people will face vulnerability at some point in their lives. The COVID-19 pandemic saw an increase in the scale and extent of vulnerable circumstances people faced - with both financial and mental wellbeing under pressure. We take pride in doing everything we can to support members and provide a service that works for them.
The four key drivers of vulnerability that we focus on are:
Health
Conditions or illnesses that affect people’s ability to carry out day-to-day activities.
Life events
Major life events such as bereavement, job loss or relationship breakdown.
Financial resilience
Low ability to withstand financial or emotional shock.
Financial capability
Low financial understanding or low confidence in managing money.
How we help
Riffat Tufail is our dedicated Vulnerable Customer Lead. Watch her video to find out how we help members at times of vulnerability:
Helping Hand framework - key principles
Our six key Helping Hand principles have been designed in order to ensure we have a strong focus on understanding members’ needs. They provide an internal framework for us to follow when supporting vulnerability and are continually reviewed for improvements.
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Design
Our propositions are designed to include the needs of vulnerable members and are accessible to all -
Recognise
We recognise when members need additional support and are equipped to create a safe space for disclosure -
Respond
We show empathy and flexibility in the ways we support members, as individual needs will be different -
Record
We ask members if we can record the details they share when they interact with us, so they only need to tell us once -
Monitor
We continually check that we are meeting the needs of members who are in vulnerable situations -
Support
We’re attentive to our colleagues and recognise they need to be supported in order to best serve members
Awards and recognition
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CCA Excellence Awards
We are the proud winners of the Customer Contact Association award for the most effective Vulnerable Customer strategy 2022.
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Engage Awards
We won the Best Customer and Employee Engagement Programme at the Engage Awards 2021 in for our work with Cowry Consulting.
Our recent Helping hand initiatives:
We aim to create a safe space to encourage members to speak up and seek additional help when they need it. Find out more about what we’ve done recently.
What next?
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Financial wellbeing for your employees
Helping your employees plan their finances with confidence.
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Why choose Standard Life?
Let us tell you a bit more about Standard Life, our goals, products and clients.
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Member online experience
Find out more about the online experience offered to members including online dashboard and mobile app.