EMPLOYEE BENEFITS
Vanco wins award for international online flexible strategy
Vanco, a global virtual network operator, has won "Most effective use of an international benefits strategy in the Employee Benefits Awards 2004 for v.choice, its innovative benefits scheme.
The scheme, developed and managed by thomsons online benefits, was launched in April 2003 across eight countries simultaneously. v:choice is claimed to be the first online international and multi-currency flexible benefit programme.
Following the implementation of v:choice, employee research showed that 60% of Vanco staff said v:choice made them feel more positive about the company, while over two-thirds believed the quality of benefits offered is "good" or "very good".
The scheme was extended in early 2004 to cover additional regions in the Czech Republic and France. More benefit choices -- including gym membership and childcare vouchers -- were also added to keep the programme "exciting and fresh".
Simon Hargreaves, group finance director, Vanco plc, said: "With v:choice we have an innovative employee rewards system in place which works on a global basis. As such, we see it providing us with significant sustainable competitive advantage."
Implementation
thomsons online benefits designed, built and tested the initial multiple currency online solution in less than five months. Appropriate benefits were sourced in each country, ensuring that "local cultures and legislation were not infringed". Presentations were given to employees in each country, followed by individual meetings to explain their benefit options and the system. Each country was provided with a local adviser to help explain personal benefits and to act as a source of local help on an ongoing basis.
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Established in 1988, Vanco is a leading global virtual network operator. With solutions available in 230 countries and territories, its customers include Avis Europe, Virgin Retail, Ford Motor Company, Pilkington, RMC Group and Smith & Nephew. For more information visit www.vanco.co.uk
thomsons online benefits was founded in 2000 to "revolutionise the way that benefits are administered and communicated". For more information visit www.thomsonsonlinebenefits.com
Posted 1 June 2004