FLEXIBLE BENEFITS
GVA Grimley refreshes its flex scheme
GVA Grimley, a firm of property advisers, has undertaken a “health check” of its flexible benefits programme at the end of two years to ensure the scheme is right for the business and employees.
As part of the review, GVA Grimley is “increasing business and employee functionality” by adding holiday tracking, total reward statements and net pay modellers to help flex become a “daily working tool” for its 1,500 employees.
GVA Grimley will remain with Vebnet for technology and administration, as well utilising the company’s additional market-related support services.
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New functionality
The new flexible benefits functionality introduced by Vebnet will make a difference to the business in two ways, says Debbie Robinson, HR manager for GVA. “It will make the holiday planning process much easier, plus we want flex to be a daily working tool. By adding the holiday planner, total reward statements and net pay modellers, employees can use the site much more frequently, rather than using it once a year to change their flex choices”.
This too may increase take up rates from the "healthy figure" of more than 70%.
Attractions of flex
The flexible benefits scheme was launched to all employees in January 2005 initially as a recruitment and retention tool. Flex has given the employees a “huge awareness of what their benefits are,” says Robinson.
“They love the flexibility and the fact that they understand their total reward and the benefit value. We can tell them, for example, that they earn £50K salary plus give them a £5k benefit allowance which they can spend as they wish – although some benefits are core to help staff as and when they need these. Additionally, flex helps the youngsters who aren’t typically interested in life assurance and the like; once they understand the value of their total reward they’re impressed.”
A final word
“GVA Grimley has done the right thing. They have reviewed their flex programme, giving themselves a health check to make sure they are handling flex in the right way for the business and for employees. They are saving costs by managing the programme in a different way, but re-investing savings to keep flex fresh, and help it become core to the business” - Marcus Underhill, head of flexible benefits at Vebnet.
Want to know more?
GVA Grimley LLP is one of the UK’s leading firms of property advisers operating from 12 offices with 750 fee earners generating a turnover of £114 million. It is particularly well known for planning, development and regeneration projects. For further information visit www.gvagrimley.co.uk.
Vebnet specialises in the development, deployment and support of internet-based technology for flexible benefits and total reward statements. Customers include The AA, Britannia Building Society, Heineken, Informa, JP Morgan, Nationwide, PwC, KPMG, SonyBMG and Virgin. For more information visit www.vebnet.co.uk.