Employee Benefits Presentation


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Building the case for Employee Benefits and Flexible Benefits

Published in: Business

Employee Benefits Presentation

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