The Challenge
Employee Benefits Portal Migration
80% take up in first week
80% annual saving
Complex multi-division company
Project
A large UK Financial Services company with well over 1,000 employees, was looking for a new flexible benefits platform that enabled them to spend more money on reward and benefits rather than technology, but which retained the same features and advantages of their existing platform.
This was a complex project involving the migration of an existing flexible benefits build from one platform to the other, which needed to be supported by a substantial communications campaign to employees and replacement of a number of benefit providers.
This was complicated by the organisation having separate divisions, with employees and sub-companies having differing entitlement to benefits as defaults, which needed to be accurately scoped from the prior system, without the benefit of an existing flexible benefits design document.
What we did:
The launch of the new platform was delivered on time, despite very tight timescales with excellent take up and log ins of over 80% by the end of the first week. The new platform saved the company over 80% in annual fees compared to their prior technology platform, while increasing take up of benefits and NI savings to the employer and employees. This was greatly assisted by accommodating both a fixed annual window for some core benefits, as well as rolling enrolment for a suite of other benefits, allowing employees to proactively engage with their benefit choices throughout the year, rather than only in an annual window.
Feedback from staff on the launch of the new platform has been excellent with the majority of respondents stating that the new platform was an improvement on the solution that was in place previously.
A year after launch, they are now in the process of opening their second annual window on the platform for their core benefits, as well as adding in some new benefits which can also be selected throughout the year, to add to those truly flexible benefits that are already in place.
