Ninety per cent Employee Satisfaction Rate for New Flexible Benefits Scheme

Written by PayPerShop.com - Filed under: Press Releases on August 5th, 2008

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Leading financial and business advisory firm, Grant Thornton, has released the results of an employee satisfaction survey, following its recent introduction of a major flexible benefits scheme across the organisation. The results have demonstrated that over 90 per cent of the firm’s personnel had a genuinely positive experience signing up to the new flexible benefits programme.

The scheme was introduced via full service flexible benefits provider, Vebnet, to 4,200 Grant Thornton employees in February 2008 and saw a staggering 99 per cent enrolment rate.

In addition, the survey found that:

… in terms of operation

Over two thirds of employees found the system easy to log onto
More than 80 per cent felt there was enough information to make an informed decision about their choices
Over 60 per cent of personnel now have an improved understanding of Total Reward Statements

… in terms of suitability

Nearly two thirds of respondents felt that the scheme had the right mix of benefit options to suit their lifestyle
Two out of three employees felt that overall the scheme met their needs

… in terms of communication

Two out of three employees were extremely positive about the strategic marketing campaign used to introduce the new scheme stating that communications was ‘above average’
Eighty per cent of personnel were able to attend presentations to learn more about the new
Eighty five per cent of attendees to the presentations were satisfied with the information which they came away with

In July last year Grant Thornton completed the largest merger in the UK financial sector in almost a decade, merging with RSM Robson Rhodes. The new firm now has 30 offices in the UK. The flexible benefits scheme was introduced to assist with harmonisation of terms and conditions across the firm, and the platform as a method for all employees to sign up to new contracts.

Significant research has been conducted at every phase of the programme in order to embrace all employees. This included online surveys before proceeding with the new benefits scheme, focus groups and post-enrolment evaluation.

Jenny Balme, National Director – Head of Reward & Relations for Grant Thornton UK, is delighted with the results of the survey. “We have placed immense importance on our communication strategy in order to reflect Grant Thornton’s overall approach to employee engagement – and this has really paid off. The results of our flexible enrolment speak for themselves – a 99 per cent take up with over 90 per cent of employees agreeing that they had a positive experience signing up to this new benefits system. We can now feel confident that our employees are all benefiting from new reward packages that are truly valuable to their own specific lifestyle needs.”

About Grant Thornton
Grant Thornton UK LLP is a leading financial and business adviser operating from 30 locations nationwide. We are the UK member of Grant Thornton International, one of the world’s leading organisations of independently owned and managed accounting and consulting firms providing assurance, tax and specialist business advice to privately held businesses and public interest entities. The strength of each local firm is reflected in the quality of the international organisation. All Grant Thornton International member firms share a commitment to providing the same high quality service to their clients wherever they choose to do business.

About Vebnet
Founded in 2000, Vebnet (www.vebnet.com) is now a leading provider of technology and managed services related to total reward and flexible benefit programmes.

Vebnet can provide individual solution components or a full end-to-end service covering reward consultancy, benefit scheme design, communications, brokering, technology, helpdesk and outsourced administration. These solutions drive employee retention, empowerment and are key components in managing the cost of employee benefit provision for employers. Solutions are delivered through an employee benefits portal. These solutions are deployed both in the UK and worldwide.

Vebnet launched its FIX&FLEX® product in 2002 and was listed on AIM in 2003.
Customers include Centrica, Britannia Building Society, JPMorgan, PwC, EY, Swiss Re and Grant Thornton.

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Written by PayPerShop.com - or reproduced on behalf of the company supplying the above information.

Filed under: Press Releases on August 5th, 2008