Centrica designed its flexible benefits scheme so that its UK employees can access perks at any time.
Its flexible benefits scheme was created with five principles in mind: flexibility, choice, continuous engagement, affordability and innovation. The organisation wanted to move towards a truly flexible scheme by offering anytime benefits that allow employees to make selections at any time in the year, rather than during a traditional annual enrolment window.
Whether they choose to buy holiday or sign up for the organisation’s bikes-for-work scheme, staff value the flexibility of being able to access benefits when it suits them, explains Tanya Llewellyn, benefits manager at Centrica.
“We recognise the diverse nature of our workforce and provide benefits to suit different needs,” she says. “Centrica offers a wide range of flexible benefits to choose from, such as eye test vouchers, dental insurance, legal help, an electric car scheme, critical illness cover, a give-as-you-earn scheme and a healthcare plan that is self-funded and managed by the Centrica Healthcare Plan Trust. This ensures there’s something for everyone in our five key benefit categories: finance, health, home, leisure and travel. This sits alongside a strong core suite of funded benefit programmes.”
Centrica aims to deliver a comprehensive engagement programme to increase take-up and ensure employees are reminded of different benefits at key times during the year. It uses a multi-channel approach to communication so messages reach staff, and maximises opportunities to speak to field employee groups face to face.
It also recognises that its workforce values support with the increasing cost of living, so plays its part by working and negotiating with suppliers to ensure staff are offered the most competitive rates possible.
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The organisation focuses on specific schemes that help staff with their everyday spending and demonstrate the savings achievable. It also looks to continuously improve its flexible benefit scheme through market benchmarking and feedback.
“We review our scheme all year round and make changes to make the user journey as seamless as possible. We aim to keep our scheme market leading through regular enhancements and implementing new benefits that we believe are the right fit for our staff. For us, innovation is exploring new bespoke benefits that will focus on supporting staff with purchasing our own green products to save on energy, support the business and drive sustainability,” Llewellyn concludes.