In its second enrolment period the Phoenix Group’s flexible benefits scheme has seen take up rise from 56% to 74%.†
The ‘Flexit’ scheme, which is provided by Vebnet, was originally launched in September 2009 to offer the life and pensions firm’s diverse workforce of 720 employees across four locations more choice.
The latest enrolment period saw the addition of a variety of new benefits including: will writing, a gym membership, a wine club, the Merlin pass which offers discounts at theme parks and attractions around the UK, the Hi-Life dining card which offers discounts at UK restaurants, a motoring package which includes tyre replacement, RAC cover and discounted servicing, and the addition of partners for two of the health screening options.
The scheme also added a link to the online portal which takes staff through to the firm’s non-flex benefits such as the pension and payroll-giving scheme, and employee assistance programme.
The most popular benefit at the latest enrolment was private medical insurance (PMI) with 47% of employees choosing it while holiday buy and sell came in second place with 32% opting for it.
Lynne Weller, group reward manager at the Phoenix Group, says: “The second year of ‘Flexit’ has been a great success. We started our communication campaign early and generated a buzz throughout the organisation about the scheme which has resulted in a fantastic take-up rate of 74%.
“We are already thinking about next year. Our post-enrolment survey has given us great ideas for further enhancements.”
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