Archive for September, 2017

One Advice Group Colleague Survey is a Success!

The One Advice Group colleague survey results are in

We carried out the One Advice Group colleague survey last month for the third year running – and we had a really positive response from our people.

When we launched the #ExpressYourself survey, nearly a third of colleagues completed it in the first 24 hours. That was really encouraging to see and it showed that people really did want to share their thoughts with us.

It’s really important in the Group that we give everyone the opportunity to tell us what they think. This is part of our mission, vision and values. And continuously improving what we do doesn’t just help our colleagues. It’s also a benefit for our customers, affiliates and any other stakeholders.

Read more to find out some of the results of the One Advice Group colleague survey – and what we’re doing to value our people.

Biggest ever response

For the One Advice Group colleague survey 2017, almost nine in 10 employees completed the survey. This is the biggest ever response for #ExpressYourself and it was a really positive reaction. It means the people in the One Advice Group are really engaged and see the value in the feedback they give us.

Responses were provided from colleague to director level, showing that everyone wanted to get involved. And when we compared the results of the One Advice Group colleague survey 2017 with the 2015 survey, they showed we had improved in all areas measured.

It was also great to see that the vast majority of colleagues say they care about how our customers are treated. In fact, 98% of our colleagues say they agree or strongly agree with the statement. This is definitely positive as it shows that we’ve got the right people on board to shape the future of the business.

There was a real mix of people who responded to the One Advice Group colleague survey as well. In fact, nearly a third of respondents say they have been here less than two years.

It’s really important that we have input from the whole spectrum of our colleagues. That way, those who have been here for a longer time can see what we’re doing right since our FCA authorisation – and our new colleagues can bring fresh ideas about what we can do to improve.

Our next steps are to make recommendations and form action plans with each department to make specific improvements. By doing this, we can be sure that we target changes in the right areas.

Solutions from Listening Groups

After the One Advice Group colleague survey, we’re now carrying out Coffee Sessions and Listening Groups to get feedback from our employees. This will allow colleagues to expand on the responses they gave in the survey. And this means we can all work together to improve the One Advice Group.

We really want to encourage all colleagues to submit solutions that work for the whole business. We value everyone’s opinion and by opening the floor to feedback in this way, it means we can source really innovative ideas to make things better for everyone.

Want to see more about what we’re doing for our colleagues? Keep an eye on our One Advice Group LinkedIn page or our One Advice Group Glassdoor page for updates.

Independent review into debt advice sector seeks evidence

Evidence for debt advice funding review

An independent debt advice funding review is looking at the current debt funding model to see if anything should change. It will focus on the issues that those with money worries face to ensure they get the support they need.

And now, the review is calling for evidence to support its research into debt advice funding. This means that any recommendations will have the data to back them up. And this will help customers get more positive outcomes.

We’ll take you through the debt advice funding review so you understand why it’s happening. And what’s more, we’ll also explain how it can help consumers.

Why is there a debt advice funding review?

The purpose of the review is to take a closer look at debt advice funding. It’s a response to the increasing demand for debt advice as well as the growth in unsecured borrowing. The Money Advice Service (MAS) is behind the review, and it wants to make sure that there’s enough advice to meet needs.

The focus of the review is:

  • how much debt advice consumers need now and will need in the future,
  • the cost of this debt advice,
  • where the funding should come from for debt advice,
  • benefits of the current debt funding structure and any improvements needed, and
  • how the debt advice sector will incorporate any changes required.

Peter Wyman CBE is leading the independent debt advice funding review. He was a senior partner at PwC for several years and was also President of the Institute of Chartered Accountants in England and Wales. His report to the Debt Advice Steering Group, HM Treasury and the FCA is due in July 2018.

What the call for evidence means

This new request will allow any relevant parties to submit evidence about the current picture of the debt advice sector. It should help to give an overview of the people currently getting debt help, the demand for this and its funding.

According to Wyman, “there is a widespread view that funding arrangements for debt advice need reconsideration.” Hopefully seeking evidence from experts on the debt advice sector will help to address any issues with the market. This should also mean that people actually dealing with those in debt have a say about how help gets funding.

Andy Briscoe, chair of both the Money Advice Service and the Debt Advice Steering Group, said: “Each year 1.5 million people seek help from the debt advice sector to cope with over-indebtedness, and these numbers are likely to increase.

“Meanwhile, the current sources of funding for this vital service are coming under pressure.”

If you have any evidence to submit to the review, you can do this by emailing MAS before December 8 2017 at debtadvicefunding@moneyadviceservice.org.uk