Case Studies

Creating a Cohesive Benefits Strategy for a Growing Brand

Challenge

Our client, a start-up that was experiencing rapid headcount growth, faced several benefits-related challenges:

• Lack of Cohesion: Their existing benefits package lacked an overall cohesive structure as the benefits had been added on an ad hoc basis as needed, resulting in inconsistencies. For example, while they offered rich maternity leave, there was no provision for short term company sick pay.
• Ineffective Recognition Scheme: Their existing long service award program needed updating.

 

Solution

To address these issues, we devised a comprehensive strategy:

1. Employee Value Proposition (EVP) Creation:

   • Collaborated with the senior leadership team and employee focus groups.

   • Developed an EVP that reflected the company culture and ways of working.

2. Benefits Analysis and Benchmarking:

   • Conducted a thorough analysis of existing benefits across all four countries where employees were based.

   • Benchmarked against industry standards to identify areas that were not aligned with how they wanted to position themselves as a forward-thinking employer of choice.

3. Strategic Implementation:

   • Worked with an independent broker to negotiate reduced rates on purchased benefits.

   • Introduced new benefits aligned with the new strategy both in individual countries and internationally to attract and retain a more diverse workforce.

   • Collaborated with the marketing team to create benefits booklets and communications consistent with the company’s branding and culture.

4. Revamped Recognition Scheme:

   • Redirected the budget allocated for service awards into a recognition scheme based on employee achievements and behaviours that were in alignment with the values.

 

Results

Our holistic approach yielded significant outcomes:

• Cohesive Benefits and Recognition Strategy: The company now had a unified benefits and recognition package aligned with its culture and values.
• Attracting and Retaining Talent: As they entered the next stage of growth, the company was better positioned to attract, retain and reward their employees.

Using Benefits Communications for a Low-Cost Transformation

Challenge

Our client sought to energise their benefits offering without having the budget to allocate additional funds to increase the existing benefits package.

 

Solution

To address this challenge, we embarked on a comprehensive strategy:

1. Benefits Review and Collaboration:

   • Conducted a thorough review of all existing benefits.

   • Collaborated with providers to understand the benefit scheme designs and if they included any additional free-of-charge benefits.

2. Rebranding Communications:

   • Developed a fresh suite of rebranded benefits communications.

   • Included information about all of the additional free of charge benefits available.

   • Provided detailed information on what each benefit covered.

3. Engaging Senior Management:

   • Engaged with senior management, from board level down, to cascade the message to employees and to transform the way benefits were discussed within the company.

4. Addressing Employee Concerns:

   • Collaborated with the team handling employee queries to identify common pain points and areas of confusion.

   • Worked with the technology provider to fix major bugs in the system and to ensure that answers to frequently asked questions were clearly answered in the content.

   • Streamlined access to essential information for employees.

 

Results

This strategic approach yielded the following results:

• Employee Engagement: The revamped communications led to a 20% increase in employee engagement with the benefits platform.
• Benefits Uptake: Employees responded positively, resulting in a 29% increase in employees choosing to enhance their benefit levels.
• Utilisation Increase: The clear communication and improved portal usability led to a 62% increase in benefits utilisation.

This cost-effective transformation focused on effective communication, empowering employees to make informed choices while optimising existing resources.

Optimising Benefits Budget for Employee Wellbeing

Challenge

Our client, a company that was undergoing rapid transitions and cultural changes, faced a considerable challenge with their existing benefits package. The risk benefits provided were above the normal market practice, and a series of Critical Illness claims from high earners threatened to dramatically increase premiums. Thankfully, those who had claimed were able to recover and return to full-time work promptly, however there were concerns that these key employees could have chosen not to return after receiving substantial payouts.

 

Solution

We approached this using the following steps:

1. Strategic Redefinition:

   • Collaborated with the HR leadership team to define a new Employee Value Proposition (EVP) to align with the new culture.

   • Shifted the benefits strategy away from a more paternalistic offering toward greater flexibility and a focus on employee wellbeing.

2. Budget Reallocation Models:

   • Developed several models to demonstrate how they could reallocate the existing benefits budget effectively to impact more employees.

   • Engaged in negotiations with employee focus groups to ensure alignment with their needs.

3. Enhanced Benefits Package:

   • Retained a lower, flat level, of critical illness cover to address employee concerns and also mitigate the risk of high claims.

   • Introduced a Health Cash Plan (HCP), providing all employees with access to additional benefits, including discounted gym memberships.

4. Wellbeing Strategy Integration:

   • The HCP formed the foundations of the new wellbeing strategy that we created.

   • Aligned this with the company’s evolving culture, emphasising holistic employee health and communicated the organisation’s commitment to employee wellbeing.

 

Results

Our approach achieved the following outcomes:

• Employee Satisfaction: By enhancing benefits and promoting wellbeing, we bolstered employee satisfaction.
• Cost Efficiency: Whilst this wasn’t primarily a cost-saving exercise, we managed to reduce costs through smarter benefits purchasing and scheme design.
• Cultural Alignment: The new benefits framework aligned with the company’s evolving culture, reinforcing its commitment to employee care.

The strategic realignment optimised the benefits budget, ensuring a win-win situation for both the company and its employees.

Rebuilding and Rebranding the Total Rewards Platform

Challenge

Our client, a company with an existing Total Rewards Platform, faced significant challenges. Despite having the system in place, they experienced low levels of employee engagement and received negative feedback indicating that the offering was overly complex.

 

Solution

To address these issues, I undertook a comprehensive review of the existing platform. Collaborating with the technology provider, broker, and internal communications team, we worked to rebrand the benefits package and simplify the technology. The key steps were:

1. Rebranding: We completely rebranded the benefits package, giving it a fresh identity. The goal was to make it more appealing and user-friendly.

2. Simplification: We streamlined the technology behind the platform, ensuring that it was clear, concise, and straightforward for employees to navigate.

 

Results

Despite having no additional budget to change the benefits, we saw the following results:

• Employee Engagement: The redesigned platform, coupled with targeted communications and employee events, led to a substantial increase in engagement, from 40% to 80% compared to the previous annual window.
• Enhanced Understanding: Employees reported a much greater understanding of their benefits package, thanks to the simplified design and improved communication.
• Cost Reduction: A thorough benefits review, conducted alongside a new broker, secured cost savings.
• Coverage Gaps Addressed: We identified significant gaps in coverage for a sizable number of employees, which were rectified.

The holistic approach not only improved engagement but also optimised costs and ensured better coverage for the employees.