The Age Friendly Team Award: Financial Services Compensation Scheme

Highly Commended for Business in the Community’s Age Friendly Team Award 2019.

FSCS: Helping staff take advantage of flexible working arrangements

  • 83% customer satisfaction, compared with 59% in 2017
  • 72% employee engagement
  • 85% of staff proud to work for FSCS

The people team at the Financial Services Compensation Scheme (FSCS) is important, not just for the staff that work there, but for the business itself.

The company, which helps people get back on track by protecting them when financial services firms fail, is committed to creating an inclusive workplace where the skills of different ages are valued. This is led by its intergenerational people team, which holds regular one-to-ones for all team members, mid-life career conversations for those over-50 and develops bespoke personal development plans.

Every job at FSCS can be carried out flexibly, at home, in condensed hours, or with flexible start and leave times. New laptops, Office 365 and VPN access are available to everybody, so people can choose where they work – whether they are aged 17 or 71.

By making sure it has the right people in its business – regardless of age – FSCS is performing better than it ever has, with 95% of claims processed within published timescales, and a 23% reduction in the cost of claims processing. Meanwhile, customer satisfaction is at a record 83% (compared with 59% in 2017).

Investment and support have driven up employee engagement too – from 60% two years ago, to 72% today. Also, 85% say they feel proud to work at the company.

Information in this impact story has been supplied by FSCS.