Event update – Employee Benefits awards deadline draws near

Most effective use of a flexible benefits plan

Winner 2005: Deutsche Bank My Flex Entered by Towers Perrin
Fully aware that this flexible benefits plan was targeted at a sophisticated, wealthy workforce, the judges made sure that they did not simply select a winner which was perceived to be cash rich with the ability to afford the best.

The judges were hugely impressed with the highly sophisticated online system which kept access as simple as possible and was able to cope with complex calculations such as pensions modelling. This was important for a wealthy workforce that has complex financial needs.

Overall the flexible benefits plan helped Deutsche Bank save money and therefore boosted its recruitment package.Most effective healthcare strategy Winner 2005: Severn Trent Water – Health & Safety Department ‘Managing health and wellbeing within Severn Trent Water’ Severn Trent Water was the runaway winner in this category. This scheme aimed to reduce sickness absence and improve productivity. It took a strategic view of health at work, introducing very broad programmes as well as some issue-specific ones.

It addressed highly pertinent matters such as hand and arm vibration syndrome, stress management and work-life balance, and even provided training for workers on lifting. The firm made a £1.4m saving in sickness absence and further savings were projected through increased productivity.Most successful new benefits launch Winner 2005: Vodafone – AllShares
The judges called this a “very carefully thought out worldwide communication strategy”. They were impressed by the wide variety of launch material that was used, and the clever use of a teaser campaign.

In July 2004 Vodafone awarded 350 shares to each of its 56,292 staff employed by 43 companies in 18 countries across five continents.

To achieve a unified, branded launch, managers were given clear and careful guidance and templates of all necessary documents, slides, stickers, posters, and so on.

Almost 100% of eligible staff participated. When the shares vest in 2006, 56,000 new Vodafone shareholders will have been created.