FLEXIBLE BENEFITS
Huntswood implements flexible benefits to aid recruitment
Huntswood, a professional services firm, has introduced a flexible benefits scheme for its 500-strong workforce.
Huntswood specialises in compliance, training and competence, customer services and consulting. It has headquarters in Reading and other offices in Glasgow, Manchester and London.
Albert Keeshan, head of human capital at Huntswood, said: "As a fast growing organisation we faced the constant challenge of how to attract new recruits". The company recruits mainly from mature financial services organisations where employees typically receive a generous reward package. So, Huntswood has largely relied on using competitive "upfront" salaries to attract and retain employees, but found itself in danger of losing good candidates.
"On joining the company last year, I was asked by my chief executive what we could do to change this situation," said Keenhan. "I proposed the idea of introducing flexible benefits as a potential solution. I felt that this would meet all our needs -- it would give us an attractive reward package that would help us attract and retain the diverse workforce that is so critical to our continued growth and success."
Launch
Following board approval for the proposal, Huntswood appointed thomsons online benefits to help launch and communicate the flexible benefits scheme. In June 2005, the scheme, branded My Benefits, went live following a communication plan that included a poster campaign and benefit open days.
Employees are given the opportunity to flex holidays, pensions, death in service, permanent health insurance, tax-free bicycles and childcare vouchers. They are able to enrol and select their benefits using the self-service solution Perquisite, implemented by thomsons.
A final word
"We are delighted with the feedback and also the take up rate. So far everything indicates that we have made the correct decision in implementing flexible benefits, and that it will have an extremely positive impact on our business. We are now planning to extend the scheme by also introducing the home computer initiative in time for Christmas." -- Albert Keeshan, head of human capital at Huntswood.
Want to know more?
thomsons online benefits was founded in 2000 to "revolutionise the way that benefits are administered and communicated". Further information can be found at www.thomsonsonlinebenefits.com
Posted 14 September 2005