EMPLOYEE BENEFITS
Devolved decision-making at Thomas Cook
Thomas Cook, the travel and financial services company, has devolved responsibility for shaping benefits packages to individual business divisions, according to a case study published in a recent edition of Employee Benefits magazine.
The move was prompted by a reorganisation of the group, which employs 15,000 people in the UK, into several autonomous business units.
As Rosalind Bergemann, head of group rewards and benefits, told Employee Benefits: One approach would have been to have a single [benefits] solution for the whole group but this was not felt to be appropriate for what is effectively a multi-business group with very diverse needs.
But individual divisions will not be given a completely free hand. They will be expected to develop their arrangements around a set of long-standing core benefits. And the ultimate aim is to align benefits with the group's key compensation objectives — securing staff loyalty and commitment and helping employees achieve a balance between their work and home lives.
The way Thomas Cook's business units deliver benefits is likely to become far more flexible and better designed to meet employee needs, their lifestyle and stage of life. One of the most tangible proofs of the group's commitment to tailoring benefits more to the needs of the individual is likely to come in the development of flexible remuneration programmes, says Employee Benefits.
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