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Employee Benefits Presentation

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Building the case for Employee Benefits and Flexible Benefits

Building the case for Employee Benefits and Flexible Benefits

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  • 1. How a well thought out benefits scheme can drive employee engagement
  • 2. Contents
    An Overview of Employee Engagement
    Key areas to consider with Reward Strategy and Employee Engagement
    Why and how has the world of Employee Benefits evolved over recent years
    Deciding what to offer your employees
    Making sure that the communications approach is right for your business
    Measuring the success of any Employee Reward and Recognition Scheme
    Questions
    2
  • 3. An Overview of Employee Engagement
    3
  • 4. Why should you consider employee benefits as part of the engagement question
    • Only 33% of employees are believed to understand the value of benefits
    • 5. Of these 67% of these employees undervalue benefits by over 2/3’s
    • 6. 9% of employees say they have no idea the value of their benefits
    • 7. Only 21% of employees say they have access to CCV’s – 82% of companies offer CCV
    • 8. Only 27% of employees say they have healthcare benefits when 57% actually do
    • 9. Research shows that only 9% of employees have access to total reward statements
    • 10. Research shows that only 11% of employees have Flexible Benefits
    • 11. Only 15% of employees believe they can influence benefits
    • 12. Only 12% of employees would recommend their company. 4 years ago it was double this
    4
  • 13. Key areas to consider with Reward Strategy and Employee Engagement
    5
  • 14. Why has the world of employee benefits evolved over recent years
    6
  • 15. How has the world of employee benefits evolved over recent years
    • The impact of the close of many Defined Benefits Schemes
    • 16. The increase adoption of Salary Sacrifice benefits Schemes
    • 17. The desire of employers to start to offer flexibility to their employees
    • 18. The introduction of Lifestyle benefits and staff discount schemes
    • 19. The introduction of Total reward as an approach to benefits
    • 20. A greater focus on Communication of the offer to employees
    • 21. A greater focus on measuring the Return on Investment of benefits
    • 22. The increase in the use of employee surveys to get feedback on what’s on offer
    7
  • 23. Deciding what benefits to offer to your employees
    8
  • 24. What are organisations offering today
    9
  • 25. Make your employees money go further
    £2000 + a year savings. That’s a 7.5% pay rise on the average salary. (£539 per week according to office of national statistics)
    10
  • 26. Making your employees money go further
    The recession has seen more employers use the tax and NI savings from flex to fund business initiatives and additional pension contributions
    11
  • 27. Why should you consider Flex
    12
  • 28. Why should you consider Flex
    13
  • 29. How many organisations offer Flex
    14
  • 30. How much should you offer?
    15
  • 31. How are Flex schemes run
    16
  • 32. Get the right balance
    17
  • 33. Making sure the communications approach is right for your business
  • 34. A four stage approach
    • Stage1: Listening & Understanding - Employee research (online survey; focus groups; social media forum) can be used before or after any of the stages during the programme.
    • 35. Stage 2: Switch & Engage – a programme designed ensure existing employees are enthused and engaged about the evolving and developing service
    • 36. Stage 3: Launch & Engage – engage the wider employees launching an enhanced level of information and support including an enhanced Flexible Benefits service offering
    • 37. Stage 4: Involve, Build & Engage – an on-going programme of communication and engagement with existing employees and employees who have not participated
  • Communication is key
    20
  • 38. Make sure the communications media is effective
    21
  • 39. Measuring the success of any Employee Reward& RecognitionScheme
  • 40. Summary and potential next steps for you
    • Build a case for Total Reward as a good basis for increased understanding
    • 41. Use Total Reward to market the organisation as a great place to work
    • 42. Introduce Flex to get employees involved in understanding benefits
    • 43. Communicate Total Reward and Flex to demonstrate you value your employees
    • 44. Train and encourage managers to be conduit for communication and engagement
    23
  • 45. Lots to think about.....
    Where do I start
    What do our employees want
    How do we administer it
    Are we inline with private sector
    Is there any budget
    Are we offering best practise
    What financial benefits can we gain
    What financial benefits can our employees gain
    How do we communicate to everyone
    What can we offer
    24
  • 46. Success
    25
  • 47. Thank you
    Find out more
    Access the latest thinking on Rewards & Benefits - ehub.edenred.co.uk
    Attend a free Benefits Workshop - flex.edenred.co.uk
    Talk to us about how we can help & arrange a demo
    26

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