IT company CSC continually reviews its corporate wrap proposition to ensure it remains relevant and useful for employees. It introduced the Mymoneyworks platform, which it helped provider Scottish Widows to develop,
for CSC’s 7,500 UK staff in July 2010. Since then, 2,300 staff have enrolled to use it.
The platform includes the company’s group personal pension (GPP) scheme, a cash individual savings account (Isa) and an internet savings account. Employees can pay into the cash Isa and internet savings account either through payroll deductions, which are facilitated through CSC’s flexible benefits plan, or they can join the schemes directly and make payments via direct debit.
Jenny Davidson, director of compensation and benefits for EMEA at CSC, says: “We see the advantage to staff of
being able to save regularly through payroll. It is very much a needs-based offering, so what we are not doing is
pushing particular products to staff. It is all about education and what employees need.”
CSC is currently collating management data to identify which staff are using the platform and which tools they
are taking up. It also plans to survey staff. “The whole process is to keep going back for feedback,” says Davidson.
Read more case studies