Renault has introduced a pensions salary sacrifice arrangement for its trust-based defined contribution (DC) scheme.
The move is intended to help bring cost savings to the business. Marina Polyakova, HR business manager, said: “Employees will get a little bit more money in their pay cheque and, as an organisation, we will get the employer national insurance savings, which is crucial.”
The company has also invested in employee health and wellbeing with a two-week health and wellbeing event, held last month. The event, entitled “Look on the bright side of life”, included tai chi classes, lunchtime walks, reflexology sessions, and head and neck massages. Where these came at a cost, staff were asked to pay the first £3, with the rest subsidised by the company.
Staff could also take advantage of services brought on-site, such as health assessments and a nutritionist. Polyakova said such initiatives were aimed at reducing employee absence, among other objectives.