Employee Benefits Refresh

The Challenge

Our client is an international company with around 500 employees. On appointing us they already had employee benefits in place but these were not aligned across the company and in some cases did not provide adequate cover to their employees. They needed to be refreshed.

In a sector where competition for staff is keen, they wanted a modern, enhanced benefits package that would help them to attract and retain talented staff, globally. They also wanted to maximise their benefits offering without increasing their annual spend.

Our Approach

We met with members of their HR and Finance teams and discussed what they wanted to achieve and how we could help. We agreed to:

• Review their existing employee benefits and provide advice as to what they should have in place.
• Negotiate and agree best terms with product providers.
• Help them to efficiently implement the revised benefits.
• Conduct staff meetings to introduce and explain the new benefits.
• Provide bespoke technology Lightbox Flex  to give employees online access to their benefits.

We proposed to deliver all of the above at no additional annual cost to our client.

The Outcome

Our re-design, market review and provider negotiations achieved on-going benefits cost savings of more than £97,000 on the client’s previous annual spend.

By introducing Lightbox Flex, our client immediately saved around one month of HR hours per annum as it allowed them to replace paper based Total Reward Statements with real time online versions. Going forward HR’s time spent dealing with employee benefit administration will continue to reduce.

Now

Our client now has

• Benefits aligned across all employees and all company bases.
• An industry-leading employee benefits package tailored to their sector.
• A bespoke employee benefits portal designed using their brand.