There is little point in offering a great benefits package if you don’t communicate to staff how amazing it is. Communication should be at the heart of benefits management and benefits software can certainly help with this.
If you can also improve administration, save time, and implement structure at a very competitive cost, benefits software must be worth consideration.
Benefits software as standard – a must for all businesses.
A financial services consultancy based in London and employing 140 staff, needed help with their existing benefits, as some were arranged through a broker and some direct with insurers – they were not confident they had purchased best of breed and were unsure of commission and fees terms. They were also concerned that staff communication was not as good as it should be.
They were aware that benefits management (or flexible benefits) software was available but were worried about cost as they had been quoted over £19,500 for a bespoke hub.
Understanding the need for professional guidance in dealing with their issues, the company approached Generation Employee Benefits to undertake a full audit of benefits, employee engagement and costs.
Following the audit, the client agreed to transfer management of benefits to us, saving money on benefits cost, especially around Private Medical, due to our fair pricing model.
As we offer benefits management software as standard, integrated into our ‘Generation Complete’ service model, the client saved on the cost of benefits software – £19,500 in this case.
We provided online access, via the bespoke hub, to an additional range of company paid benefits, including – Gym Discount, Shopping Discount, Eye Care Vouchers and Mental Health Helpline. The client also offered employees paid voluntary benefits, including – Top up Life and Critical Illness Cover and Health Screening.
Furthermore, benefits administration was greatly improved with Private Medical joining via self-service, a range of product literature, automatic re-broking and benefits and financial services helplines – all at a touch of a button and incorporated free within their standard service fee. In addition, the company opted to add online Total Reward Statements.
Our bespoke Benefits Hub is now up and running and available to staff on screen and all smart devices – staff benefited from improved communication and can now see all their benefits in one place, download, print or view documents, obtain information, claim forms, and of course see the true value of benefits through total reward.
The client was happy that staff had a more structured view of benefits which helped them to understand what was on offer. HR were delighted, as with Generation Employee Benefits managing the process their workload was reduced, freeing up valuable time for new projects. They were also able to save on fees and commission, through fairer pricing.
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