How to implement and manage flexible benefits

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How to implement and manage flexible benefits
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How to implement and manage flexible benefits?

• Who we are?
• Why flexible benefits?
• How we built the case for the business.
• Creating the right solution.
• Project Management
• Employee Communication
• Encouraging uptake and engagement.
• Refreshing the offering.
• The key take outs

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Who we are

• Danone UK Dairy Subsidiary of Group
  Danone
• Group Danone Global market Leaders in Fresh
  Dairy Products, Bottled Water and No 2 world wide
  in Biscuits.
• Danone UK No 1 in Active Health Drinks
  in the UK market
• (Actimel / Activia brands)
• Company Profile 90 employees Turnover
  160m

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Why flexible benefits

• Internal Survey Results poor appreciation and
  understanding of benefits.
• Employer Branding - benefits not aligned around
  the company vision or values.
• A desire to move to a Total reward offering.
• External Market Competitiveness
• Age profile of the company 29 / 30 years old
• Individual solutions were highly valued in this
  population

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The Business case

• Aon selected as partners
• Feasibility study conducted
• Key stages
• Define the objectives / reasons why
• Audit culture, current benefits, market
  attractiveness,
• Identify core benefits
• Defined a pricing strategy and allowance
• Prototype to test
• Tax
• Legal situation
• Administration and systems to support
• Project Resources
• Communication and launch phase
• Detailed Project Plan
• Costings and Payback

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Creating the right solution

• Objective - Alignment around business values and
  culture
• Employee Workshops testing opinion on the
  prototype.
• Total company surveyed.
• Final recommendation presented and circulated to
  all employees with feedback on workshops.

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Project Management

• Plan drawn up with Aon and manage in conjunction
  with the account manager.
• Milestones (Financial / Systems / process)
  presented at board meetings and share with
  employees.

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Employee Communication

• Key success criteria for the project.
• Communication Plan in place
• All employees involved from the beginning of the
  project.
• Expectations managed during the project
• Marketplace for new suppliers.
• Workshops run at the start of the enrolment
  period and support provided throughout enrolment
  process.
• Communication material produced for the launch
  and on-going

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Encouraging Uptake and Engagement

• Pro-active Communication
• Education of benefits and benefit modelling of
  impact.
• All employees were required to register on-line
  even if no changes were made.
• Help desk available during enrolment period
• Support from Aon
• Results
• 100 of employees enrolled,
• 60 made a change to their previous benefits,
• All benefits chosen by at least one employee

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Refreshing the offering

• Need to keep choices relevant and exciting
• Constant communication and feedback from new
  starters.
• All new benefits surveyed to employees before
  incorporation into package
• Benefits taken out annually if no longer relevant
• Post enrolment analysis is key
• Financial Analysis

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The Key Take outs

• Clearly identified how flexible benefits supports
  / adds value to the company
• Identify the objectives and measures of success
  for the project
• Work with a partner
• Conduct a through feasibility study
• Involve, share and communicate throughout
• Make it simple